Me and my partner are buying a 3 bedroom apartment in Duffield with a mortgage. We have a Duffield solicitor, however the bank says he's not on their "panel". It appears that we have no option but to appoint one of the bank panel conveyancing practices or keep our Duffield lawyer as well as pay for one of their panel firms to represent them. This feels very unfair; can we not insist that the lender use our Duffield solicitor ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Duffield conveyancing lawyer to apply to be on the conveyancing panel.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Duffield. My lender is Platform
Platform have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 19/9/2020, the requirements read as follows :
Last month we had a mortgage agreed in principle with Principality. Duffield conveyancing solicitors are appointed. How long does it take for Principality to issue the offer to the conveyancer?
Some lenders take longer than others. Have Principality conducted the survey? Have you informed Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Intending to buy a house in Duffield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Duffield conveyancer is on the UBS conveyancing panel.
Santander have agreed my mortgage in principle, my bid on a flat in Duffield has been agreed to, what happens next?
Your property agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s approved list). Call up Santander or your broker and complete any relevant forms. Santander will sellect a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Santander will send the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Duffield.
I am buying a new build house in Duffield with a loan from National Westminster Bank. The builders refused to reduce the amount so I negotiated 6k of extras instead. The estate agent advised me not reveal to my solicitor about this side-deal as it will affect my loan 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.
In what way does the Landlord & Tenant Act 1954 affect my business property in Duffield and how can your lawyers assist?
The particular law that you refer to gives security of tenure to commercial tenants, giving them the legal entitlement to make a request to court for a continuation of occupancy at the end of an expired lease. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. Fees are different for commercial conveyancing. Duffield is one of the hundreds of locations in which the firms we work with are located