My fiance and I are planning to purchase a house in Whitby and are in fact using a Whitby conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Coventry Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Whitby lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Whitby lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Are there restrictive covenants that are commonly identified during conveyancing in Whitby?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Whitby. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying my first flat in Whitby with a mortgage from Barclays Direct. The developers refused to move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not reveal to my lawyer about the extras as it will affect my mortgage with Barclays Direct. 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Whitby in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the house. The surveyor has said that some lenders tend refuse to give a mortgage on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Whitby. Conveyancing may be slightly more expensive based on your lender's requirements.
Are there any apps to help search for a Whitby solicitor on the TSB conveyancing panel? I am a keen cyclist and am willing to travel upto 10kilometers to meet the conveyancer.
Feel free to make use of the search on this website. Please pick a lender and your location and you will see a number of Whitby conveyancing lawyers based on proximity. We have detailed some Whitby conveyancing firms towards the end of this page and you can call them to verify whether they are on the TSB approved list
I need to find a conveyancing solicitor for my conveyancing in Whitby. I've discover a site which appears to be the perfect offering If there is a chance to get all formalities done via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?