My fiance and I are purchasing a 1 bedroom flat in Bramhall with a residential mortgage from Accord Mortgages Ltd.We like our Bramhall conveyancing solicitor but Accord Mortgages Ltd advised that her practice is not on their "panel". We have to appoint a Accord Mortgages Ltd panel lawyer or retain our local solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
No, not really. The loan offered to you contains various provisions, one of which will be that solicitors will be on the Accord Mortgages Ltd solicitor panel. in the past, most lenders had large numbers of law firms on their panels: a borrower could find 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Accord Mortgages Ltd
I am buying a property in Bramhall. One unusual aspect is that the roof has a solar panel. Barclays have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Barclays your lawyer must check the conveyancing instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Barclays where a lease does not satisfy these requirements. The requirements relate to the installation of panels on properties countrywide and is not isolated to Bramhall.
I am expecting a DIP from RBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Bramhall solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Bramhall solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
Leeds Building Society have agreed my mortgage in principle, my bid on a house in Bramhall has been accepted, what are the next steps?
Your property agent will wish to be advised as to your solicitor's details (make sure the conveyancing practitioners are on the lender’s panel). Contact Leeds Building Society or the broker and complete any appropriate documentation. Leeds Building Society will sellect a valuer who will get in touch with the estate agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. Leeds Building Society will send the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Bramhall.
I am purchasing a new build house in Bramhall benefiting from help to buy. The builders refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not reveal to my solicitor about this extras as it would jeopardize my loan with Halifax. Should I keep quiet?.
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.
I decided to have a survey completed on a house in Bramhall before appointing conveyancers. I have been advised that there is a flying freehold element to the house. Our surveyor has said that some banks may not issue a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Halifax. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Bramhall. Conveyancing may be slightly more expensive based on your lender's requirements.
There are a lot of properties in Bramhall on unadopted roads. We are acquiring such a property. Are there any benefits to buying a house on a private road?
Bramhall conveyancing lawyers are used to dealing homeson unadopted roads. The conveyancing practitioner will investigate Land Registry data to identify any rights or responsibilities. In many cases there is a management company (wholly owned by residents) that proprietors pay into for the upkeep of the road. If there is one, the road should be maintained and appear better than publicly adopted.