My partner and I are purchasing a new build flat in Almondsbury and my solicitor is informing me that she has to the mortgage company to disclose incentives from the builder. I am nearing the developer’s deadline to exchange contracts and I don't want to delay matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Almondsbury. My lender is Accord Mortgages
Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 20/11/2022, the requirements read as follows :
We had selected conveyancers located in Almondsbury on the Skipton solicitor approved list. They are now charging me a supplemental amount for dealing with the Skipton mortgage. Is this a supplemental conveyancing fee specified by Skipton?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your property lawyer can levy a fee for this. The charge is not set by Skipton but by your Almondsbury conveyancing practitioner. Plenty of firms on the Skipton panel will charge an ‘acting for lender’ fee but plenty of practices include it on their overall fee.
We are getting a further advance on our home loan from Yorkshire BS as we want to conduct alterations to our property in Almondsbury. Are we obliged to choose a nearby Almondsbury solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS do not ordinarily appoint firms on their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS list.
We expect to receive a OIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Aldermore recommend any Almondsbury solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Almondsbury solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
My wife and I purchased a renovated Victorian property in Almondsbury. Conveyancing lawyer represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Almondsbury and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the position with your conveyancing solicitor who conducted the conveyancing.
I was recommended by numerous estate agents in Almondsbury to get a quote from a solicitor using your seach tool. What’s the financial inducement for Estate Agents to recommend your services ahead of a competitor’s?
We refuse to offer any financial incentive for pointing buyers and sellers our way. We thought it would be too underhand to pay a commission because a client could think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.