My husband and I are planning to purchase a property in Priorslee and have appointed a Priorslee conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Ireland have this morning contacted us to inform me that they have now hit a problem as our Priorslee lawyer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Priorslee lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
What can a local search tell me about the property we're purchasing in Priorslee?
Priorslee conveyancing often commences with the submitting local authority searches directly from your local Authority or through a personal search company such as Searches UK The local search is essential in every Priorslee conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your new home. The search will supply 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 subject headings.
I have recentlyfound out that Stirling Law have closed. They conducted my conveyancing in Priorslee for a purchase of a leasehold apartment 18 months ago. How can I establish that my home is registered correctly in the name of the former proprietor?
The easiest way to check if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Priorslee conveyancing specialists.
I'm purchasing a new build house in Priorslee benefiting from help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not disclose to my lawyer about this deal as it may affect my loan with Halifax. 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 decided to have a survey carried out on a house in Priorslee in advance of retaining lawyers. I have been advised that there is a flying freehold aspect to the property. My surveyor has said that some banks tend not grant a mortgage on such a home.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Priorslee. 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 choose one who is on the Lloyds TSB Bank conveyancing list. I had appointed a local conveyancing solicitor in Priorslee round the corner but he is not accepted by Lloyds TSB Bank
It would be our pleasure to assist you find a conveyancing solicitor in Priorslee on the Lloyds TSB Bank panel. Please note that the law firms 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 Priorslee. In making use of search facility on this page, you can contrast fees for conveyancing solicitors in Priorslee and beyond.