I can't travel far from Niton. What is the rationale as to why all Niton property lawyers aren't included on all mortgage company panels?
Mortgage companies highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This led to lenders culling a number of firms from their official list of approved solicitors .
We are only a couple days away from an exchange on a flat in Niton and my mum and dad have sent the exchange deposit to my solicitor. I am now told that as the deposit has not arrived from me my conveyancer needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for this now to hold matters up?
Your property lawyer is obliged to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
What can a local search tell me regarding the property I am purchasing in Niton?
Niton conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search organisations for instance Onsearch The local search plays a central role in most Niton conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I am buying a new build flat in Niton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Niton
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
I was advised by two or three local estate agents in Niton to locate a solicitor using your seach tool. Is there a financial incentive for Estate Agents to recommend your services rather than a competitor’s?
We refuse to offer any financial incentive for pointing buyers and sellers to this site. We thought it would be too underhand to pay a commission because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
A couple of weeks ago I was informed by my mortgage company that their approved lawyers operate no completion no fee basis for conveyancing in Niton. I had a purchase abort and now the lawyers have requested search fees! They are stating that the fees are nothing to do with their fees!
By promising "no move no fee" Niton conveyancing practices are waiving their charges for any work conducted. We should point out that this does not constitute an insurance scheme. you will still required to cover any disbursements that your lawyer has outlayed on your behalf such as Niton local authority checks