I have been referred to a conveyancing solicitor in Fenham. I need to find out if they are accepted on the Clydesdale conveyancing panel. Could you advise?
The first thing you should do is contact the lawyer and ask them whether they are on the lender panel. Otherwise you should call Clydesdale who may be able to confirm.
I'm buying a new build house in Fenham with a mortgage from Aldermore. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not disclose to my lawyer about the side-deal as it would jeopardize my mortgage with Aldermore. 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.
Due to the encouragement of my in-laws I had a survey completed on a property in Fenham ahead of appointing solicitors. I have been told that there is a flying freehold element to the property. My surveyor has said that some mortgage companies will refuse to give a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fenham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am looking for a conveyancing solicitor in Fenham for my sale. Is there any facility to check a firm’s record with the profession’s regulator?
You can find presented Solicitor Regulator Association (SRA) decisions arising from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator could recorded call for training purposes.
22 days into purchasing a residence in Fenham. Conveyancing solicitor has called to say the title is "Leasehold". Does this make a difference on our home loan valuation?
Fenham conveyancing does not usually involve leasehold houses. The key consideration here is the length of lease and the ground rent. If there are hundred of years years remaining with a peppercorn rent, it's almost the same as freehold, so it’s unlikely to affect the marketability too much.
On the flip side, if it's, say, 50 years it will have a significant effect on the value, and probably wouldn't be mortgageable. The remaining lease term and ground rent will be set out in the lease provided to your property lawyer.