The Blackfen conveyancing firm handling our Blackfen conveyancing has identified a difference when comparing the information in the valuation report and what is revealed within the title deeds. My solicitor informs me that he must check that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am considering mortgaging my apartment in Blackfen, does my lawyer need to be on the Principality Solicitor panel?
In theory, you could use a solicitor that is not on the Principality conveyancing panel, but Principality would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Are there restrictive covenants that are commonly picked up during conveyancing in Blackfen?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Blackfen. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm buying a new build house in Blackfen with a mortgage from Yorkshire Building Society. The developers would not budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not reveal to my solicitor about the side-deal as it would adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
I'm refinancing my current property to a BTL loan with Chelsea Building Society and intend to use the remaining equity as a deposit on a second property. The neighborhood we are talking about is Blackfen. Will your lawyers be able to act for both sets of banks and link together the transactions?
Make use of our search tool on this page to be sure that the solicitors are on the relevant lender panels. Assuming that they are the lawyer should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and communicate your desired outcome and needs.