My property lawyer in Gateshead is not listed on the Norwich and Peterborough Building Society Solicitor Panel. Is it possible for me to retain my prefered solicitor even though they are excluded from the Norwich and Peterborough Building Society approved list?
The limited options available to you here include:
- Complete the purchase with your existing Gateshead solicitors but Norwich and Peterborough Building Society will need to use a lawyer on their panel. This will result in additional total legal fees as well as cause frustration.
- Get an alternative lawyer to to deal with the purchase, obviously checking they are on the Norwich and Peterborough Building Society panel
Are there restrictive covenants that are commonly identified during conveyancing in Gateshead?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Gateshead. 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 my first flat in Gateshead with a mortgage from Clydesdale. The sellers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent suggested that I not to tell my solicitor about this deal as it will put at risk my mortgage with the bank. 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.
How simple is it to transfer to a new solicitor as I have to select one who is on the The Mortgage Works conveyancing panel. I was using a local conveyancing solicitor in Gateshead five minutes from me but she is not approved by The Mortgage Works
It would be our pleasure to assist you select a conveyancing solicitor in Gateshead on the The Mortgage Works panel. Please note that the property lawyers that we on the directory do not pay us commission if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Gateshead. Using the find a conveyancing solicitor tool on this site, you can contrast charges for conveyancing solicitors in Gateshead and throughout England and Wales.
My son is about to join the property ladder, he had his mortgage in principle. After the seller agreed the offer on the apartment we rang the mortgage institution to move forward with his. I was very surprised to learn that mortgage lenders do not accept all solicitor, they have to be on a list, is this right?
Mortgage Companies tend to imposes restrictions either the type or the number of conveyancing practices on their panel. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Gateshead lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.