I am 4 weeks into the sale of my house in North Cornelly and the estate agent has just telephoned to advise that the purchasers are changing their property lawyer. The excuse is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with certain solicitors rather the firm that they want to appoint for their conveyancing in North Cornelly ?
Lenders 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 represented them for over 25 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise 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 unlikely to have any impact on this.
Can the conveyancing solicitors that are recommend handle auction conveyancing in North Cornelly?
We know of a few auction lawyers we can put you in touch with those conducting auction conveyancing. North Cornelly is one of our locations where our lawyers cover.
As someone unfamiliar with conveyancing in North Cornelly what’s your top tip you can impart for the legal transfer of property in North Cornelly
Not many law firms or advisers will tell you this but conveyancing in North Cornelly or throughout England and Wales is often a confrontational experience. In other words, when it comes to conveyancing there exists an abundance of room for conflict between you and other parties involved in the home moving process. For instance, the seller, estate agent and even potentially your lender. Choosing a law firm for your conveyancing in North Cornelly should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the transaction whose interest is to look after your best interests and to protect you.
Sometimes a potential adversary may try and persuade you that it is in your interests to do things their way. For instance, the estate agent may claim to be assisting by claiming that your lawyer is slow. Or your financial adviser may try to convince you to do something that is contrary to your solicitors advice. You should always trust your lawyer above all other parties in the conveyancing process.
I am purchasing my first flat in North Cornelly benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not inform my lawyer about the deal as it could adversely affect my loan with the bank. Should I keep quiet?.
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 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.
Over the last few months I have been searching for a ground for flat up to £305k and found one near me in North Cornelly I like with open areas and railway links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in North Cornelly suitable, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.
As co-executor for the will of my grandmother I am disposing of a property in Newport but I am based in North Cornelly. My lawyer (approximately 300 miles awayhas requested that I execute a stat dec before completion. Could you suggest a conveyancing practitioner in North Cornelly to attest and place their company stamp on the document?
Technically speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will do regardless of whether they are North Cornelly based