My husband and I are planning to buy a house in Wormwood Scrubs and have appointed a Wormwood Scrubs conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Leeds Building Society have this evening contacted us to inform me that they have now hit a problem as our Wormwood Scrubs lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. 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 mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Wormwood Scrubs solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am purchasing a property without a mortgage in Wormwood Scrubs. I have been residing for the last twelve years in Wormwood Scrubs. Conveyancing searches are a lot of money. As I know the area and road intimately should I not bother getting the solicitor to do all the conveyancing searches?
In the absence of a home loan, then all but one or two of the Wormwood Scrubs conveyancing searches are at your discretion. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches carried out, but he is duty bound to take that path of guidance. One thing to take into account; if you are intend to sell the house one day, it could be of relevance to your prospective buyer what the searches contain. Sometimes premises with day to day issues can still show up detrimental search results. A competent conveyancing solicitor in Wormwood Scrubs should be able to give you some sensible guidance in this regard.
My husband and I decided to purchase a purpose built apartment in Wormwood Scrubs with a mortgage from Skipton Building Society.We would like to retain our Wormwood Scrubs conveyancing solicitor but Skipton Building Society advised that his firm is not listed on their approved list of firms. We have to appoint a Skipton Building Society panel firm or retain our preferred solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan issued to you contains various provisions, a common one being that conveyancers needs to be on the Skipton Building Society solicitor panel. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society
I am buying a new build house in Wormwood Scrubs with a mortgage from Barclays . The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not inform my lawyer about this extras as it would jeopardize my loan 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've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Wormwood Scrubs is where the house is located. Can you offer any guidance?
Flying freeholds in Wormwood Scrubs are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wormwood Scrubs you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wormwood Scrubs may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
As co-executor for the estate of my aunt I am disposing of a house in Newport but live in Wormwood Scrubs. My lawyer (approximately 250 miles awayrequires that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing solicitor in Wormwood Scrubs who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Wormwood Scrubs based