Me and my fiance are planning to buy a 1 bedroom apartment in Westbury Park with a mortgage. We have a Westbury Park lawyer, however the lender advise she’s not on their "panel". It appears that we have little option but to appoint one of the mortgage company panel firms or retain our Westbury Park conveyancer as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms 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 Westbury Park conveyancing lawyer to apply to be on the conveyancing panel.
I own a freehold residence in Westbury Park yet charged rent, why is this and what is this?
It’s unusual for properties in Westbury Park and has limited impact for conveyancing in Westbury Park but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the generation of fresh rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence after 2037 is to be extinguished.
We wanted to use a property lawyer in Westbury Park for our house purchase. Our broker informed us that our mortgage company The Mortgage Works won't deal with them. Surely this is unfair competition?
Lenders tend to imposes restrictions either the category or the number of conveyancing solicitors on their panel. Typical examples of such restriction(s) being that a law practice must have two or more partners. In addition to restricting the profile of firm, some have decided to limit the amount of solicitor practices they allow to act for them. You should note that The Mortgage Works have no responsibility for the quality of advice provided by any member of The Mortgage Works Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels since 2008 even though there remains differing opinions about the level of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that hundreds of law firms, including some in or near Westbury Park only execute a couple conveyances per annum.
What is the difference between a licensed conveyancer and conveyancing solicitor in Westbury Park
There are many recorded licenced Conveyancers in Westbury Park and Solicitor firms in Westbury Park who provide Conveyancing services It is important to make clear that both are regulated professionals specialising in the legal aspects of the home buying process. They may both also deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We are buying a 4 bedroom semi-detached house in Westbury Park. We would like to an extension at the rear at the property.Will the conveyancing process include enquiries to ascertain if these alterations are permitted?
Your property lawyer will review the deeds as conveyancing in Westbury Park will occasionally reveal restrictions in the title documents which prohibit categories of changes or require the permission of another owner. Many works need local authority planning consent and approval under the building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
Coventry BS have agreed my home loan in principle, my offer on a property in Westbury Park has been accepted, what happens next?
Your estate agent will need to be advised as to your conveyancer's details (ensure that the conveyancers are on the bank’s approved list). Call up Coventry BS or your financial adviser and complete any appropriate forms. Coventry BS will appoint a valuer who will get in touch with the selling agent or vendor to book a time for the valuation to happen. Once conducted (assuming no problems) it takes approximately a week to receive the mortgage offer. Coventry BS will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Westbury Park.
I am buying my first flat in Westbury Park with a mortgage from Lloyds TSB Bank. The builders refused to reduce the amount so I negotiated £7000 of additionals instead. The property agent advised me not inform my conveyancer about this deal as it could impact my loan with the bank. Do I keep my lawyer in the dark?.
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.
What is different about your site and alternative web based conveyancing brokers when it comes to conveyancing in Westbury Park?
At this site obtain a conveyancing quote from a Solicitor or Licensed Conveyancer that appreciates the issues of your conveyancing in Westbury Park. As opposed to estate agents and many comparison sites we do not charge firms a fee if you select them for your home move in Westbury Park