I am nearing exchange of contracts for my maisonette in Aylsham and the EA has just telephoned to warn that the buyers are appointing a new conveyancer. The reason given is that the lender will only engage with solicitors on their approved list. On what basis would a big named mortgage company only deal with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Aylsham ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
My friend recommended that where I am buying in Aylsham I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Aylsham conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Aylsham around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Aylsham Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information about Aylsham.
I have recentlybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Aylsham for a purchase of a leasehold flat 12 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Aylsham conveyancing specialists.
I'm buying my first flat in Aylsham with the aid of help to buy. The developers would not move on the price so I negotiated 6k of extras instead. The sale representative suggested that I not inform my solicitor about the extras as it will jeopardize my mortgage with the bank. 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.
Been reading online that Aylsham solicitors are more expensive than Aylsham conveyancers in Aylsham to use when buying a house. So is it better if I use a conveyancer or a solicitor where I am purchasing for my home move in Aylsham.
When it comes to conveyancing in Aylsham the costs are unlikely to vary dramatically depending on whether the legal expert is a licenced conveyancer or solicitor.