We are planning to purchase a 3 bedroom apartment in Fulwood with a mortgage. We like our Fulwood solicitor, however the mortgage company advise she’s not on their "panel". It appears that we have no option but to use one of the lender panel firms or keep our Fulwood property lawyer as well as pay for one of their panel firms to represent them. This seems very unfair; are we not able to require that the mortgage company use our Fulwood conveyancer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Fulwood conveyancing solicitor to apply to be on the conveyancing panel.
I need some quick conveyancing in Fulwood as I am under a deadline to exchange contracts in less than one month. Luckily I do not require a mortgage. Is it possible to avoid the conveyancing searches to save fees and time?
As you are not taking a home loan you are at liberty not to have searches conducted although no conveyancer would recommend that you don't. With lots of history conveyancing in Fulwood the following are instances of issues that can arise and adversely affect future mortgageability: Refused Planning Applications, Outstanding Charges, Overdue Grants, Unadopted Roads,...
Are there restrictive covenants that are commonly picked up during conveyancing in Fulwood?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Fulwood. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am buying a new build house in Fulwood with the aid of help to buy. The developers would not move on the price so I negotiated 6k of fixtures and fittings instead. The property agent advised me not reveal to my conveyancer about the extras as it could affect my loan with the lender. Should I keep quiet?.
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.
Can you offer any advice when it comes to appointing a Fulwood conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a solicitor for lease extension works (regardless if they are a Fulwood conveyancing firm) it is most important that he or she should be familiar with the legislation and specialises in this area of conveyancing. We recommend that you speak with two or three firms including non Fulwood conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be useful:
Can they put you in touch with clients in Fulwood who can give a testimonial?
Fulwood Conveyancing for Leasehold Flats - A selection of Queries before Purchasing
How many of the leaseholders are in arrears for their service charge payments? Is anyone aware of any major works in the near future that could increase the service fees? How is the lease structured?