My fiance and I wish to acquire a 1 bedroom apartment in Shooter's Hill with a residential mortgage from Birmingham Midshires.We have a Shooter's Hill conveyancing solicitor but Birmingham Midshires informed us he's not listed on their "panel". we are left little option but to use a Birmingham Midshires panel lawyer or keep our preferred solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Birmingham Midshires use our lawyer?
No, not really. The home loan issued to you is subject to its terms and conditions, a common one being that lawyers needs to be on the Birmingham Midshires approved list. Until recently, most lenders had large numbers of solicitors 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 lawyer to apply to be on the conveyancing panel for Birmingham Midshires
The deeds to my property can not be found. The lawyers who handled the conveyancing in Shooter's Hill 4 years ago are no longer around. What do I do?
You no longer need to have the physical deeds to establish that you are the owner of your registered land or premises, given that the Land Registry have everything they need in a digital format.
I am buying my first flat in Shooter's Hill with a loan from Coventry Building Society. The developers refused to move on the price so I negotiated £7000 of additionals instead. The sale representative advised me not reveal to my conveyancer about the deal as it could put at risk my loan with Coventry Building Society. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, chain free conveyancing. Shooter's Hill is the location of the property. Can you shed any light on this issue?
Flying freeholds in Shooter's Hill are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Shooter's Hill you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Shooter's Hill may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am one month into a residential purchase having been directed to solicitors by the selling agent to handle our conveyancing in Shooter's Hill. I am am starting to be dissatisfied with the level of service. Can you you assist me in finding new solicitors?
They would need to be really poor to suggest changing them. Has the loan offer been issued? If so you need to advise them of the replacement conveyancer and get the offer are re-sent. Your new conveyancer should be on the mortgage company panel to avoid supplemental fees and complications. So that should be your first question of the new conveyancers. Our search tool will help you find a lender approved lawyer for your home move in Shooter's Hill
I've found a house that appears to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have just found out that it's a leasehold as opposed to freehold. I would have thought that there are particular concerns purchasing a leasehold house in Shooter's Hill. Conveyancing lawyers have not yet been instructed. Will they explain the issues?
Most houses in Shooter's Hill are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. it is apparent that you are purchasing in Shooter's Hill so you should seriously consider looking for a Shooter's Hill conveyancing solicitor and check that they have experience in dealing with leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. You may also be required to pay a service charge towards the maintenance of the communal areas where the house is part of an estate. Your conveyancer should advise you fully on all the issues.