My partner and I are buying a leasehold flat in Upper Tean. My lawyer has never been on on the bank approved list. Is it possible for me to retain my Upper Tean conveyancing solicitor even though they are excluded from the mortgage company panel?
Your options include
- Complete the deal with your existing Upper Tean solicitor but your mortgage company will undoubtedly retain a conveyancer on their approved panel. The net result is additional charges and potential delay.
- Get a new lawyer to conduct the conveyancing, making sure they are on the bank conveyancing panel.
- Appeal to your conveyancing practitioner to apply to join the mortgage company panel
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to instruct their panel conveyancer as I would prefer to instruct a specialised conveyancing solicitor in Upper Tean?
Do check but the the probability is that appoint one of their panel lawyers where you take up the "fee-free" incentive. Speak to the lender to explore if they offer you a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards the cost for your conveyancing solicitor in Upper Tean.
I used Wolstenholmes a few years ago for my conveyancing in Upper Tean. Now, I need my files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Upper Tean of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Upper Tean benefiting from help to buy. The builders refused to move on the price so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not reveal to my conveyancer about the deal as it will put at risk my loan with HSBC 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Upper Tean is the location of the property. What do you suggest?
Flying freeholds in Upper Tean are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Upper Tean 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 Upper Tean may decide 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 property.
Should I be suspicious about estate agents that I am dealing with are suggesting an online conveyancing firm as opposed to a High Street Upper Tean conveyancing firm?
As with many professional services, often input from family and friends can be worth their weight in gold. But there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and banks might all suggest lawyers to retain. On occasion these conveyancers might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the endorsement. You are at liberty to choose your preferred lawyer. You need to be aware that the majority of lenders have an approved list of law firms you are obliged to use for the lender related work in your house move.