Is the fact that my solicitor in Cowfold is not identified on my mortgage company's solicitor panel that there is a problem with the standard of her work?
That would more than likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Cowfold conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
I'm purchasing a new build house in Cowfold benefiting from help to buy. The developers refused to reduce the amount so I negotiated 6k of extras instead. The estate agent suggested that I not to tell my conveyancer about the extras as it will adversely affect my mortgage with the 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.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Cowfold is the location of the property. Is there any advice you can give?
Flying freeholds in Cowfold are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cowfold you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cowfold may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm refinancing my current house to a buy to let loan with Yorkshire Building Society and intend to use the remaining equity as a down payment on another property. The location we are looking at is Cowfold. Will your solicitors be able to act for both sets of banks and tie in the transactions?
Make use of our search tool on this site to ensure that the solicitors are approved by both banks. Having checked that they are your lawyer will be able to tie up the two conveyancing matters but you should talk with you conveyancer and specify your desired outcome and requirements.
My partner and I hope to purchase our 1st home in Cowfold. Conveyancing solicitor already appointed. The mortgage adviser suggested that a survey is not necessary as the property was only constructed twenty two years ago.
You would be well advised to have a Home Buyer's Report. As the premises is over 10 years old the property will be without a warranty, so you don't want to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report could be sufficient. They will highlight any apparent issues and recommend further investigation if appropriate. If there are any indications of problems obtain a full Building Survey from the beginning.