Me and my fiance are purchasing a 2 bedroom flat in Northolt with a mortgage. We like our Northolt lawyer, however the bank says he's not on their "panel". It appears that we have little choice but to appoint one of the mortgage company panel solicitors or continue with our Northolt conveyancing practitioner and pay for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Northolt conveyancing lawyer to apply to be on the conveyancing panel.
Why do I have to pay up front for conveyancing in Northolt?
Where you are retaining lawyers for conveyancing in Northolt your solicitor will ask you place them with funds to cover the the cost of the conveyancing searches. Generally this is requested to cover the fees of the Local Authority Search. When the down payment is payable against the purchase price then this should be asked for immediately ahead of contracts are exchanged. The closing balance that is needed will be payable a few days ahead of the day of completion.
I am planning to acquire a property and require a conveyancing solicitor in Northolt who is on the Nationwide Building Society approved. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Nationwide Building Society in certain locations such as Northolt. We dont recommend any particular firm.
It has been 4 months since my purchase conveyancing in Northolt concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying my first flat in Northolt with a mortgage from Barclays Direct. The sellers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not to tell my lawyer about this side-deal as it may impact my mortgage with Barclays Direct. Should I keep quiet?.
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.
I previously advised by my lender that their panel solicitors work on no completion no charge basis for conveyancing in Northolt. I had a purchase fall through nevertheless the conveyancers want search fees! They say the fees are seperate!
in offering "no completion no fee" Northolt conveyancing practices are waiving their fees for any work carried out. We should point out that this is not to be regarded as an insurance scheme. you will still need to cover any costs that the property lawyer has incurred for you such as Northolt local authority checks