Our conveyancer has uncovered a a problem with the lease for the flat we are buying in Creigiau. The other side have offered defective title insurance as a workaround. We are happy with insurance and will pay for it. Our conveyancing practitioner says that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the mortgage company are the client. These conveyancing instructions have to be complied with.
Do all mortgage companies provide you with an approved list of Creigiau conveyancing solicitors? How do you know who is on the Aldermore conveyancing panel?
Creigiau conveyancing firms themselves provide us confirmation that they are on the Aldermore conveyancing panel as opposed to being supplied with a list from Aldermore directly.
I'm purchasing a new build house in Creigiau with a loan from Alliance & Leicester . The sellers refused to budge the amount so I negotiated £7000 of extras instead. The house builders rep told me not disclose to my conveyancer about the deal as it will adversely affect my mortgage with the bank. 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.
Do I need to be concerned that 3rd parties that I am dealing with are suggesting an online conveyancing firm as opposed to a local Creigiau conveyancing company?
As with many professional services, often referrals from connections can be most helpful. But there are numerous people with a vested interest in a conveyancing transaction; estate agents, financial adviser and banks may suggest conveyancers to instruct. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there is an underlying financial incentive behind the recommendation. You have the right to select your preferred lawyer. You need to be aware that some lenders have an approved list of law firms you must use for the mortgage related work in your home move.
Is planning permission needed to change a house into two flats in Creigiau? This has taken place to a property next door to my house in Creigiau and was unaware of it happening until it was finished.
Planning permission is required for converting a single dwelling in Creigiau into flats but possibly not for reverting once again to single dwelling-house so, in answer to your question, yes,a it is needed.