We wanted to use a conveyancing solicitor in Porthleven for our house move. Our broker has since notified us that our mortgage company The Mortgage Works won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Porthleven conveyancing firms would have been on many bank panels. The financial services regulator in 2010 completed a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms concerning their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum amount of transactions. Many Porthleven conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Porthleven is amongst the thousands of areas where the lawyers we recommend are on the panel for The Mortgage Works.
Me and my brother purchased a semi-detached Victorian house in Porthleven. Conveyancing lawyer represented me and Nottingham Building Society. I did a free Land Registry search last week and I saw two entries: one for freehold, the second leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Porthleven and other areas of the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with the conveyancing solicitor who conducted the conveyancing.
I am purchasing my first flat in Porthleven with the aid of help to buy. The builders would not reduce the price so I negotiated 6k of extras instead. The estate agent told me not to tell my conveyancer about this deal as it will jeopardize 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.
I opted to have a survey completed on a house in Porthleven prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some lenders will not grant a loan on such a property.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to telephone us we can check 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 Porthleven. Conveyancing may be slightly more expensive based on your lender's requirements.
Is it possible to transfer to a new firm as I have to find a firm on the Santander conveyancing list. I was using a high street conveyancing solicitor in Porthleven five minutes from me but he is not accepted by Santander
We will our best to assist in finding you a conveyancing solicitor in Porthleven on the Santander panel. Please note that the solicitors that we on the directory do not pay us commission if you instruct them and are authorised and regulated by the SRA who regulate all conveyancing solicitors in Porthleven. In making use of the find a conveyancing solicitor tool on this page, you can contrast fees for conveyancing solicitors in Porthleven and throughout England and Wales.
What do I do if I am unhappy with the property lawyer who did our conveyancing in Porthleven?
Occasionally the level of service you receive is not as you expect, and unfortunately occasionally things do go wrong. Nevertheless there is recourse if you were not happy with your conveyancing in Porthleven. This varies from trying to resolve matters directly with them, through to reporting a lawyer to their governing body. If things still aren’t sorted out you may consider enlisting the help of the Legal Ombudsman.