Me and my partner are purchasing a 1 bedroom flat in Axminster with a mortgage. We wish to retain our Axminster solicitor, however the lender advise he's not on their "panel". It appears that we have no option but to use one of the bank panel firms or retain our Axminster conveyancing practitioner and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Axminster conveyancing solicitor to apply to be on the conveyancing panel.
I'm the single recipient of my late father’s estate and I have everything in my name now, including the my former home in Axminster. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I do know about the CML six month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the house in August. Is the property unsalable for six months?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. many banks would take a practical view as this obligation principally exists to pick up on the purchase and immediately sell or the quick reselling of properties.
Completion of my remortgage has taken place for my property in Axminster. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. In most cases complaints to a lender are sorted out very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Bank of Ireland have agreed my mortgage in principle, my bid on a flat in Axminster has been agreed to, what happens next?
The estate agent will wish to know who your solicitors are (make sure the lawyers are on the lender’s approved list). Call up Bank of Ireland or the broker and complete any outstanding documentation. Bank of Ireland will instruct a valuer who will get in contact with the selling agent or seller to schedule a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Bank of Ireland will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Axminster.
Me and my brother own a renovated Edwardian property in Axminster. Conveyancing practitioner acted for me and Clydesdale. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the exact same property. Is it worth asking Clydesdale to clarify?
You should assess the Freehold register you have again and check the Charges Register for 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 Axminster and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also enquire as to the situation with your conveyancing solicitor who conducted the conveyancing.
I'm purchasing my first flat in Axminster with the aid of help to buy. The sellers would not reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep told me not disclose to my solicitor about this extras as it would impact my mortgage with the lender. 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.
Due to the input of my in-laws I had a survey completed on a property in Axminster in advance of instructing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks will refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Axminster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Axminster to see if the conveyancing will be more expensive.