Me and my fiance are purchasing a 2 bedroom apartment in Scarborough with a mortgage. We have a Scarborough conveyancer, but the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or continue with our Scarborough conveyancer as well as pay for one of their panel firms to represent them. We regard this is inequitable; can we not require that the lender use our Scarborough conveyancer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Scarborough conveyancing lawyer to apply to be on the conveyancing panel.
The vendors of the home we are hoping to buy are using a conveyancing firm in Scarborough who has recommended a exclusivity contract with a non-refundable deposit 10k. Are such contracts appropriate for Scarborough conveyancing transactions?
This type of preliminary agreement isn't common in Scarborough, conveyancers are often inclined to veer clients away from them as they divert attention from the main conveyancing focus and if you end up having your deposit forfeited then the solicitor at best left with an upset client and at worst a litigious one. In addition, there is no guarantee that just because the owner has entered into an exclusivity agreement they will complete the sale with you. They may breach the agreement if they are offered a large enough incentive to do so because an aggrieved party with the benefit of a lockout agreement will still have to show losses as a consequence of the breach and this may not equalise the financial benefit that your vendor may obtain by breaching the agreement, however morally condemnable that may be.
Have just purchased a probate house at auction in Scarborough. Conveyancing is needed. What happens now?
Having legally committed yourself to purchase you will need to hire the services of a conveyancing lawyer as a matter of urgency as you will have a tight a fixed date to complete the transaction. All auction property should have an associated auction set of papers. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the legal papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to a leasehold property. You need to hand this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are in order to complete the transaction on the set completion date.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Scarborough solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Scarborough postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Scarborough.
At last I have had an offer on an apartment in Scarborough agreed to, but there is a chain. The owners have offered on a property, but it’s not been accepted yet, and have viewings of other properties booked. I have selected a high street conveyancing solicitor in Scarborough. What do I do now? When do I get the mortgage application with Co-operative started?
It is understandable to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is approx one thousand pounds, then survey, Scarborough conveyancing search fees, etc). First, you must check that your conveyancer is on the Co-operative approved list. Concerning the subsequent steps this very much depends on the circumstances of your case, desire for the property and on the state of the market. In a hot market many home buyers would apply for a home loan with Co-operative and pay for the valuation and only if it was satisfactory would they ask their conveyancer to press on with searches.
Various online forums that I have visited warn that are the number one cause of stalling in Scarborough conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays during the legal transfer of property. Local searches are not likely to feature in any delay in conveyancing in Scarborough.
I am purchasing my first flat in Scarborough benefiting from help to buy. The builders refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my conveyancer about this deal as it may impact my loan with Nottingham Building Society. 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 UK Finance website. UK Finance 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Scarborough before appointing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks will refuse to issue a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Scarborough. Conveyancing will be smoother if you use a solicitor in Scarborough especially if they are acquainted with such properties in Scarborough.