Our conveyancer has identified a a problem with the lease for the flat we are purchasing in Chorleywood. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must check that the lender is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with 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 solicitor will have no choice but to discontinue acting for you.
I am purchasing my first flat in Chorleywood with the aid of help to buy. The sellers refused to reduce the price so I negotiated £7000 of additionals instead. The sale representative told me not inform my lawyer about this deal as it could affect my mortgage with National Westminster Bank. 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.
Is it possible to switch solicitor as I need to find a firm on the Santander conveyancing list. I had appointed a family conveyancing solicitor in Chorleywood five minutes from me but the firm is not approved by Santander
It would be our pleasure to assist you find a conveyancing solicitor in Chorleywood on the Santander panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Chorleywood. In utilising search facility on this page, you can contrast fees for conveyancing solicitors in Chorleywood and throughout England and Wales.
My husband and I are a fortnight into a leasehold purchase having been referred to solicitors by the local agent to handle our conveyancing in Chorleywood. We are not happy. Could you help me find new conveyancers?
They would have to be very bad in order to consider diss instructing them. Has your mortgage been sent? If so you must advise them of the new solicitor and have the loan are re-issued. Your solicitor ideally needs to be on the mortgage company panel to avoid supplemental expenses and complications. That should be your first question of the new solicitors. Our find a solicitor tool should assist you in finding a bank approved lawyer for your conveyancing in Chorleywood
Why is it not possible to complete our conveyancing in Chorleywood on a public holiday?
This is due to the fact that on completion the funds will pass between the banks of the purchaser and owner’s solicitor and at present this can only take place on a business day. So you can't complete on a saturday or sunday either.