I was told yesterday by my IFA that my Niton property lawyer is not on the lender Solicitor panel. What can I do to check?
You need to call your Niton conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may be able to suggest a Niton conveyancing firm that is on the conveyancing panel for your mortgage company.
All was ready to complete my purchase in Niton next Monday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook conditions. These requirements are not limited to conveyancing in Niton.
My wife and I are at the point of looking at flats in Niton and I am now considering a potential offer. Should I already have a lawyer in place at this point? I intend to finance via a mortgage with TSB.
It would be wise to instigate your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. As you are seeking a mortgage with TSB, make sure you remember to check that your lawyer is on the TSB conveyancing panel.
The mortgage over my property is with Skipton for my property in Niton. Conveyancing has been completed months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Skipton?
Your original mortgage agreement with Skipton will provide that you need their approval in advance of renting your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. You need not do this via a Skipton conveyancing panel solicitor.
Completion of my remortgage has taken place for my property in Niton. Conveyancing was satisfactory but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
We are planning on selling our property in Niton and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Niton. We have lived in Niton for 4 years we know of no issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing solicitor currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm purchasing my first flat in Niton with a loan from Chelsea Building Society. The sellers would not move on the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not reveal to my conveyancer about the deal as it may affect my loan with Chelsea Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the UK Finance website. UK Finance 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.
My wife and I have recently appointed a conveyancing solicitor in Niton. I need to find out if they are on the bank's approved list of lawyers. Can you advise?
It’s a good idea phone your lawyer and ask them if they are on the bank's approved list. If that does not help call us and we can investigate and revert. If they are not on the lender panel we can certainly arrange a quality conveyancing solicitor in Niton on the approved list for your mortgage company.