we are a couple who are hoping to buy a newly converted apartment in Euxton with a loan from Godiva Mortgages Ltd.We would like to retain our Euxton conveyancing solicitor but Godiva Mortgages Ltd informed us she’s not listed on their "panel". We have to appoint a Godiva Mortgages Ltd panel solicitor or retain our preferred solicitor and fork out for a Godiva Mortgages Ltd panel lawyer to represent them. This seems very unfair; Can we not simply insist that Godiva Mortgages Ltd use our lawyer?
Unfortunately,no. The loan issued to you contains various provisions, one of which will be that lawyers needs to be on the Godiva Mortgages Ltd conveyancing panel. Until recently, most banks had large numbers of solicitors 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. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Godiva Mortgages Ltd
My bid for a property was accepted at auction in Euxton. Conveyancing is necessary. What are my next steps?
Now that you are legally committed yourself to purchase you must find a conveyancing practitioner quickly as you are faced with a fast approaching deadline in which to complete the conveyancing. All auction property will have a corresponding auction pack. This should include evidence of title and search results. If you have purchased leasehold premises the legal pack should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You need to hand this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
Is there a list of Nationwide panel solicitors in Euxton on the Building Society Association’s Website?
No. There is no such directory service on the Council of Mortgage Lenders or Building Society Association websites. A small selection of mortgage companies make their panel listings available over the internet. If you are seeking to appoint a Euxton conveyancing practitioner on the Nationwide please make the most of our facility.
My sealed bid on a detached house in Euxton has been agreed to, the owners do however have a dependent purchase. The vendors have put an offer on a property, but it’s not yet tied up, and have viewings of other flats in the pipeline. I have chosen a nearby conveyancing solicitor in Euxton. What should be my next step? When do I get the mortgage application with Nottingham going?
It is usual to have concerns where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx £1k, then survey, Euxton conveyancing search charges, etc). First, you must check that your property lawyer is on the Nottingham approved list. Concerning the subsequent steps this very much dictated by the circumstances of your case, motivation for the property and on the state of the market. In a hot market many home buyers will apply for a home loan with Nottingham and arrange for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with the conveyancing in Euxton.
I'm purchasing a new build house in Euxton with a loan from Godiva Mortgages Ltd. The developers refused to budge the amount so I negotiated 6k of extras instead. The estate agent told me not disclose to my lawyer about the deal as it may adversely affect my mortgage with Godiva Mortgages Ltd. Is this normal?.
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.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Euxton is where the house is located. Is there any advice you can impart?
Flying freeholds in Euxton are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Euxton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Euxton may ascertain 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 residence.
I'm converting the mortgage on my existing house to a BTL mortgage with Birmingham Midshires and intend to use the remaining equity towards further house. The area we are talking about is Euxton. Will your conveyancers be able to act for both sets of mortgage companies and link together the two deals?
Do use our comparison tool on this site to ensure that the conveyancers are approved by both banks. Having checked that they are your lawyer should be able to tie up the two deals but you should talk with you lawyer and make clear your desired outcome and needs.