I was advised recently by my mortgage adviser that my Penkridge property lawyer is not on the mortgage company Solicitor panel. How can I check?
You need to contact your Penkridge lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may be able to suggest a Penkridge conveyancing firm that is on the conveyancing panel for your bank.
Do the Building Society Association intend to launch a searchable register to list law firms on the Loughborough BS conveyancing panel for instance in Penkridge?
Lexsure has not been advised of any plans on the part of the BSA to develop such a search facility.
I'm purchasing a new build house in Penkridge with a loan from Platform Home Loans Ltd. The developers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not to tell my lawyer about this side-deal as it would jeopardize my mortgage with Platform Home Loans Ltd. Do I keep my lawyer in the dark?.
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 opted to have a survey carried out on a house in Penkridge prior to instructing solicitors. I have been told that there is a flying freehold element to the house. My surveyor advised that some mortgage companies may refuse to issue a loan on such a home.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. If you call us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Penkridge. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to use a Penkridge conveyancing practitioner in close proximity to the house I am hoping to buy? We have a good friend who can deal with the legal work however his firm is located a couple of hundredmiles drive away.
The primary upside of using a local Penkridge conveyancing firm is that you can drop in to sign documents, present your identification documents and pester them where appropriate. They will also have local knowledge which is a bonus. That being said nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and the majority were impressed that must surpass using an unknown Penkridge conveyancing lawyer solely due to them being based in the area.
We have selected a Penkridge conveyancing solicitor for our home move (novice purchasers) and have spotted in the Ts and Cs that they are not covered by the FCA. Need I be worried or is that the norm with lawyer?
We can't see why they should be. Most solicitor don't lend money. They should be regulated by the Solicitors Regulation Authority, who have stringent conditions in relation to funds deposited on client account.