I am selling my house in Newtown and the EA has just telephoned to warn that the buyers are appointing a new solicitor. The excuse is that the bank will only work with solicitors on their approved list. On what basis would a big named mortgage company only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Newtown ?
Mortgage companies have always had an approved set of law firms that can act for them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
Can your site be used to find a Conveyancing solicitor in Newtown even where I’m not buying or disposing of a house, for instance if I intend to acquire an office in Newtown with a loan from Birmingham Midshires?
The service is mainly there to find domestic conveyancing solicitors in Newtown but we have listed at the end of this page a selection of Newtown commercial conveyancing firms. You will need to speak with the firm directly to see if they can also act for Birmingham Midshires
My wife and I purchased a terraced Edwardian property in Newtown. Conveyancing practitioner acted for me and Accord Mortgages Ltd. I did a free Land Registry search last week and there are a couple of entries: one for freehold, the second leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Newtown and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who conducted the purchase.
I'm buying my first flat in Newtown with the aid of help to buy. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my conveyancer about the side-deal as it would affect my mortgage with Santander. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Hoping to buy a property located in Newtown and I am already nervous. I couldn't find anything specific about Newtown. Conveyancing will be needed in due course but do you know about the Newtown area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Newtown. In the meantime here are some basic statistics that we found
In my capacity as executor for the estate of my aunt I am disposing of a residence in Swansea but live in Newtown. My solicitor (based 260 kilometers from merequires that I sign a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Newtown who can attest this legal document for me?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will be fine regardless of whether they are Newtown based