Some advice if I may. My Glastonbury lawyer is informing me me that she is duty bound toconduct Glastonbury conveyancing searches becausethe firm are on the HSBCsolicitor panel. Do I not have a choice here?
You have limited options available to you. As you are obtaining a home loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your lawyer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Glastonbury conveyancing searches.
We note that you have a search directory listing firms on the Virgin Money conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Glastonbury?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Glastonbury.
Have just purchased a repossessed house at auction in Glastonbury. Conveyancing is needed. What are my next steps?
Having exchanged you will need to appoint a conveyancing practitioner soon as you will have a pending a drop dead date to complete the deal. An auction property should have a corresponding auction set of papers. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You should hand this to your appointed conveyancing solicitor as soon as possible. Do make sure that your finances are in order to complete the transaction on the set completion date.
When it comes to mortgage companies such as Lloyds, do Glastonbury property lawyers face a fee to be on the conveyancing panel?
We are not aware of any bank fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
My offer was accepted on an apartment in Glastonbury on 22/10/2018, valuation was booked five days later, all came back fine. Conveyancer appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm purchasing my first flat in Glastonbury with a loan from Alliance & Leicester . The sellers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not disclose to my conveyancer about the extras as it will adversely affect my loan with the lender. 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.
I am looking for a leasehold apartment up to £305k and found one near me in Glastonbury I like with open areas and station nearby, the downside is that it only has 49 years on the lease. There is not much else in Glastonbury suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.