My wife and I are buying a 2 bedroom flat in Addiscombe with a mortgage. We have a Addiscombe lawyer, but the lender advise he's not on their "panel". It seems we have little option but to select one of the bank panel firms or continue with our Addiscombe property lawyer and pay for one of their panel firms to represent them. This seems very unfair; are we not able to require that the lender use our Addiscombe conveyancing practitioner ?
Unfortunately,no. The mortgage offered to you 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. A further alternative is for your Addiscombe conveyancing solicitor to apply to be on the conveyancing panel.
Can I use your services to recommend a Conveyancing solicitor in Addiscombe even where I’m not purchasing or selling a house, for instance where I wish to acquire a shop in Addiscombe with a loan from The Mortgage Works?
Our search tool is primarily utilised to find residential conveyancing solicitors in Addiscombe but we have listed towards the bottom of this page a selection of Addiscombe commercial conveyancing firms. You will need to speak with the company directly to check if they can also act for The Mortgage Works
I am considering remortgaging my house in Addiscombe, does my lawyer have to be on the UBS Conveyancing panel?
There is nothing to stop you using your solicitor, but UBS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I'm purchasing a new build house in Addiscombe with a mortgage from National Westminster Bank. The sellers refused to budge the amount so I negotiated 6k of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about this extras as it would adversely affect 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 am a fortnight into a freehold purchase having been referred to solicitors by the selling agent to perform conveyancing in Addiscombe. I am am very frustrated with the quality of service. Can you you assist me in finding new solicitors?
They would have to be very poor in order to consider replacing them. Has your loan offer been generated? If so you must make them aware of the new contact details and ensure the offer are issued to the new lawyers. Your new solicitor ideally should be on the banks approved list to avoid escalating expenses and frustration. So that should be your first question of the new lawyers. Our search tool will assist you in finding a lender approved lawyer for your home move in Addiscombe