Me and my partner are about to exchange buying a house in Wolverley but as a result of damage from the recent storms I have managed to agree recompense from the owner of £3k by way of a adjustment in the price. I had intended this to be addressed as part of amending the contract but RBS are not allowing this. Why were they notified?
The conveyancer being on a RBS approved list is obliged to advise RBS of any changes to the purchase price. If you prohibit your conveyancer to notify the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancer for your conveyancing in Wolverley.
My Solicitor in Wolverley is not on the Barclays Solicitor Panel. Can I still use my family solicitor even though they are not on the Barclays list of approved lawyers?
Your options are as follows:
- Carry on with your existing Wolverley solicitors but Barclays will need to retain a conveyancer on their panel. This will result in additional total conveyancing fees as well as result in delays.
- Choose a new solicitor to to deal with the conveyancing, obviously checking they are Barclays approved.
- Try to convince your Barclays based solicitor to attempt to join the Barclays panel
I am buying a new build house in Wolverley benefiting from help to buy. The builders refused to budge the price so I negotiated £7000 of extras instead. The estate agent told me not disclose to my solicitor about the extras as it would jeopardize my mortgage with the lender. Do I keep my lawyer in the dark?.
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 opted to have a survey completed on a house in Wolverley before retaining solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some mortgage companies may refuse to issue a loan on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you contact us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wolverley. Conveyancing will be smoother if you use a solicitor in Wolverley especially if they are accustomed to such properties in Wolverley.
How straightforward is it to use the search tool to get a quote from a conveyancing practitioner in Wolverley on the approved list for my mortgage?
First select a mortgage company such as Barclays , The Mortgage Works or Barclays Direct then type in your location a common one being Wolverley. Conveyancing organisations in Wolverley and beyond should be shown.
I need to swap lawyers as my Wolverley lawyer is not on the lender's panel of conveyancing solicitors. Is it practical to instruct different lawyers?
If you haven't yet appointed a solicitor to do anything for you and have just received quotes, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Wolverley that you're considering.