Our mortgage company has suggested solicitors on their panel based in Waterloo but I would rather instruct a conveyancing lawyer in Waterloo local to me. Can you assist?
Not all Waterloo conveyancing practitioners are approved and listed on all lender’s conveyancing panel. Please make the most of the above find an approved solicitor tool to find a Waterloo conveyancing solicitor on the on the mortgage company panel.
I am intent on selling our property in Waterloo and the buyers lawyers are claiming that there is a possibility that the property was built land that was not decontaminated. Any high street Waterloo conveyancer would know this is not the case. It does beg the question why the purchasers are using a factory type conveyancing firm rather than a conveyancing solicitor in Waterloo. Having lived in Waterloo for many years we know that this is a non issue. Is it a good idea to get in touch with our local Authority to get confirmation need.
It sounds as though you may have a conveyancing solicitor already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
My wife and I purchased a renovated Georgian property in Waterloo. Conveyancing lawyer acted for me and Clydesdale. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Waterloo and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing lawyer who conducted the conveyancing.
I'm purchasing my first flat in Waterloo with the aid of help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not inform my lawyer about this deal as it would jeopardize my mortgage with the lender. 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.
I decided to have a survey done on a house in Waterloo before retaining lawyers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies will not issue a mortgage on this type of property.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. If you call us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Waterloo. Conveyancing may be slightly more expensive based on your lender's requirements.
My 20yr old son is embarking on her first house purchase, the home loan was agreed last week in principle. When the seller agreed the offer on the flat we contacted the lender to progress the mortgage application. We were very surprised to learn that mortgage lenders do not accept all conveyancing practitioner, they need to be on their approved list, is this correct?
Lenders tend to imposes restrictions either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Waterloo conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.