Can you clarify what the consequences are if my lawyer’s firm is expelled from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Ashington?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am purchasing a new build house in Ashington with the aid of help to buy. The developers refused to move on the price so I negotiated 6k of fixtures and fittings instead. The house builders rep told me not reveal to my conveyancer about this extras as it would affect my mortgage with Lloyds TSB Bank. 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on last month in what was supposed to be a straight forward, chain free conveyancing. Ashington is where the house is located. Can you offer any guidance?
Flying freeholds in Ashington are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ashington 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 Ashington may decide 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 property.
Taking into account that I will soon part with 450k on 3 bedroom house in Ashington I wish to talk to a solicitor concerning thehome move prior to giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be doing your property ownership legalities in Ashington.There is no ‘factory style conveyancing’ - each client is an important individual, not a case number. The practices that we put you in touch with believe that the figure you are provided with for residential conveyancing in Ashington should be the figure that you are charged.
A couple of months ago I was told by my lender that their panel solicitors work on no move no charge basis for conveyancing in Ashington. My purchase did not proceed nevertheless the lawyers want search fees! They say the fees are seperate!
in offering "no sale no fee" Ashington conveyancing practices are waiving their fees for any work conducted. We must stress this is NOT an insurance scheme. you will still be expected to cover any disbursements that your property lawyer has incurred for you for example Ashington local authority checks