I am obtaining a mortgage with Santander. My intention is to use a Licensed Conveyancer in Bayswater. Does the Santander Conveyancing panel exclude conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My friend recommended that where I am purchasing in Bayswater I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard Bayswater conveyancing searches. It is not a small report of about 40 pages, listing and setting out important information about Bayswater around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bayswater Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information about Bayswater.
I'm purchasing a new build house in Bayswater with a mortgage from Virgin Money. The builders would not reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my solicitor about the extras as it would jeopardize my loan with Virgin Money. Should I keep quiet?.
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.
My step-father has urged me to appoint his conveyancers in Bayswater. Should I use them?
Much as we are happy to recommend a Bayswater conveyancing lawyer the best way to choose a conveyancing practitioner is to get feedback from friends or relatives who have actually experience in using the solicitor you're considering.
Our lawyer in Bayswater has uncovered a a legal deficiency with the lease for the flat we are buying in Bayswater. The seller’s lawyers have suggested defective title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor says that as he is on the mortgage company conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.