It has come to my attention via my estate agent that my Chertsey solicitor is not on the bank Solicitor panel. How can I be certain if this is indeed the case?
The first thing you need to do is to call your Chertsey conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
Why do I have to pay up front for conveyancing in Chertsey?
Where you are retaining lawyers for conveyancing in Chertsey your lawyer will request that you place them with funds to cover the search fees. Normally this is needed to cover the fees of the Local Authority Search. When the deposit is as part of the purchase price then this should be needed shortly in advance of exchange of contracts. Any further balance that is due will be payable a few days ahead of the day of completion.
We wanted to use a property lawyer in Chertsey for our home move. Our financial adviser informed us that our mortgage company Bank of Ireland won't deal with them. Surely this is unduly restrictive?
Lenders on the whole imposes restrictions either the category or the number of conveyancing practices on their approved list of lawyers. Typical examples of such criteria being that a law practice must not be a sole practitioner. In addition to restricting the profile of firm, some have reduced the amount of solicitor practices they use to represent them. You should note that Bank of Ireland have no responsibility for the quality of advice provided by any member of Bank of Ireland Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there are mixed views regarding the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that hundreds of law firms, including some in or near Chertsey only conduct a couple conveyances per annum.
What is the difference between a licensed conveyancer and conveyancing solicitor in Chertsey
There are many registered licenced Conveyancers in Chertsey and Solicitor partnerships in Chertsey who can assist with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in the home buying process. Both can conduct associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We have agreed to purchase a house in Chertsey. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Leeds Building Society be concerned?
Given that your lender is Leeds Building Society your lawyer must follow the formal instructions set out in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and lawyers are required to report to Leeds Building Society where a lease fails to satisfy these specifications. The specifications relate to the installation of panels on properties nationwide and is not isolated to Chertsey.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Chertsey solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Chertsey surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am buying my first flat in Chertsey with a mortgage from Barnsley Building Society. The builders would not move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not inform my conveyancer about this extras as it may jeopardize my mortgage with the lender. Is this normal?.
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.