Me and my partner are buying property in Yeadon. My property lawyer is not listed on the lender approved list. Can I still appoint my Yeadon conveyancing solicitor even though they are excluded from the lender approved list?
Various options include
- Complete the deal with your chosen Yeadon conveyancing practitioner but your lender will undoubtedly instruct a property lawyer from their approved list. The net result is additional fees and probable delay.
- Get a new solicitor to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your property lawyer to apply to join the lender panel
All was ready to complete my purchase in Yeadon next Monday. My solicitor now wants me to supply her with evidence of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the mortgage company. What risks does the bank expect the insurance to cover?
All property lawyers on acting for banks would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in Yeadon.
Despite weeks of looking the Title Certificate and documents to our house are lost. The conveyancers who conducted the conveyancing in Yeadon 10 years ago are no longer around. What are my options?
These day there are duplicates made of almost everything, and your conveyancer will know exactly where to look for all the suitable documentation so you may buy or dispose of your property without a hitch. Where copies can’t be located, your conveyancer may be able to put in place insurance or indemnities protecting you against possible claims on the property.
I am purchasing my first flat in Yeadon with a loan from Platform Home Loans Ltd. The builders would not move on the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not inform my conveyancer about the deal as it may impact my loan with the bank. Is this normal?.
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.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. Yeadon is where the house is located. Is there any guidance you can impart?
Flying freeholds in Yeadon are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Yeadon you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yeadon 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.
My husband and I are new to the buying process - agreed a price, yet the property agent advised that the vendor will only move forward if we appoint their preferred solicitors as they are insisting on a ‘quick sale’. Our preferred option is to instruct a high street solicitor used to conveyancing in Yeadon
It is highly unlikely the sellers are driving this. If they require ‘a quick sale', turning down a motivated purchaser is likely to cause more damage than good. Speak to the owners direct and explain that (a)you are genuine purchasers (b)you are excited to move forward, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)but you will continue to instruct your preferred Yeadon conveyancing lawyers - rather thanthe ones that will give the estate agent a commission or meet his conveyancing thresholds pre-set by corporate headquarters.