Am I correct in assuming that the fact that my solicitor in Waddington is not identified on my bank's solicitor panel that there is a problem with the quality of his conveyancing?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Waddington conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
I am buying a house without a mortgage in Waddington. I have lived for the previous dozen years in Waddington. Conveyancing searches are a lot of money. As I know the area and road very well should I not bother getting the solicitor to do all the conveyancing searches?
If you not getting a home loan, then almost all of the Waddington conveyancing searches are optional. Your lawyer will ’encourage you, perhaps strongly, that you should have searches done, but she is duty bound to do this. One thing to consider; if you are likely to dispose of the house one day, it could be of importance to your future purchaser what the searches determine. On occasion premises with no practical issues can still show up negative search results. A good conveyancing solicitor in Waddington should provide you some constructive advice in this regard.
Is there a search tool that I can use to investigate if the solicitor carrying out my conveyancing in Waddington is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus spending £175.00 in another set of conveyancing bill.
Please do take advantage of the search tool on this page. Pick the mortgage company and type ‘Waddington’ or your preferred area and you will discover numerous conveyancers offices in Waddington or by proximity to you.
I have been told that property searches are the number one cause of obstruction in Waddington house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the most frequent causes of delays during the legal transfer of property. Searches are not likely to feature in any holding up conveyancing in Waddington.
I'm purchasing a new build house in Waddington benefiting from help to buy. The developers would not budge the price so I negotiated £7000 of extras instead. The estate agent told me not to tell my conveyancer about the extras as it could adversely affect my mortgage with the bank. Should I keep quiet?.
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.
I opted to have a survey done on a house in Waddington in advance of instructing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some lenders tend refuse to issue a mortgage on such a house.
It varies from the lender to lender. Santander has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Waddington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Waddington to see if the conveyancing will be more expensive.