I am approaching an exchange on a house in Burnham Market and my parents have sent the ten percent deposit to my conveyancing practitioner. I am now informed that as the deposit has been received from someone other than me my conveyancing practitioner needs to disclose this to my lender. I am advised that, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender concerning my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?
Your conveyancer is legally required to check with lender to ensure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only reveal this to your lender if you agree, failing which, your lawyer must cease to continue acting.
Is there a list of Santander panel conveyancers in Burnham Market on the UK Finance Lenders’ Handbook Website?
No. There is no such directory service on the CML or Building Society Association sites. Very few mortgage companies make their panel listings visible over the internet. Where you are looking for a Burnham Market conveyancer on the Santander please make the most of our facility.
I had a mortgage agreed in principle with UBS. Burnham Market conveyancing solicitors have been selected. How long does it take for UBS to forward the offer to the lawyer?
Some lenders take longer than others. Have UBS done the valuation? Have you advised UBS as to your lawyers' details and checked that your lawyers are on the UBS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I currently have a mortgage with Skipton for my property in Burnham Market. Conveyancing has been completed 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Skipton?
Skipton must be informed of your intention before renting your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. You need not do this via a Skipton conveyancing panel solicitor.
I am buying my first flat in Burnham Market with the aid of help to buy. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not to tell my conveyancer about this extras as it will affect my mortgage with the lender. 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.
I am downsizing from my property. My previous solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Burnham Market if that makes a difference.
Do use our search tool to help you choose a solicitor for your conveyancing in Burnham Market. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs smoothly.
My husband and I are new to the buying process - had an offer accepted, but the selling agent has warned us that the seller will only go ahead if we appoint the agent's preferred conveyancers as they need a ‘quick sale’. My instinct tells me that we should use a family conveyancer used to conveyancing in Burnham Market
We suspect that the owner is unaware of this demand. Should the owner desire ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Contact the owners directly and make the point that (a)you are genuine buyers (b)you are ready to progress, with finances arranged © you are chain free (d) you wish to move quickly (e)but you intend to use your own,trusted Burnham Market conveyancing lawyers - rather thanthose that will earn their negotiator at the agency a introducer fee or achieve conveyancing thresholds set by senior management.