I am obtaining a mortgage offer from Santander. I hope to use a Licensed Conveyancer in Temple. Does the Santander Conveyancing panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My wife and I are nearing an exchange on a property in Temple and my parents have sent the exchange deposit to my lawyer. I am now informed that as the deposit has been received from someone other than me my property lawyer needs to disclose this to my bank. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to hold matters up?
The lawyer is obliged to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
I am assisting my mother sell her house in Temple. Does the solicitor commission an energy performance certificate or should I organise this?
After the abolition of Home Packs, EPC’s was retained a mandatory element of selling a property. An energy performance certificate should be to hand in advance of the property being put on the market. This is not as aspect of the sale process that conveyancers normally organise. Where you are instructing a Temple conveyancing lawyer they might be able to arrange energy performance certificates due to their relationships with long established Temple providers
Are all Temple Conveyancing Quality Solicitors on the Nottingham conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
Having read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Temple solicitor - who is on the Skipton conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Skipton will need an independent valuation of the property. Your lawyer will not arrange this. Usually Skipton 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. You may wish to consider appointing your own Temple surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I'm buying a new build house in Temple with a loan from Birmingham Midshires. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not to tell my lawyer about this side-deal as it would affect my mortgage with the bank. Is this normal?.
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.
Due to the guidance of my in-laws I had a survey completed on a house in Temple in advance of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. The surveyor advised that some banks tend not issue a loan on a flying freehold home.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Temple. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Temple to see if the conveyancing will be more expensive.
When it comes to my conveyancing in Temple should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Temple conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the conveyancer's time in submitting the funds this way.