My fiance and I are purchasing a 2 bedroom flat in Harlow with a mortgage from Alliance & Leicester .We like our Harlow conveyancing practitioner but Alliance & Leicester says he's not on their approved list of firms. we are left little option but to use a Alliance & Leicester panel firm or keep our preferred solicitor and fork out for a Alliance & Leicester panel lawyer to represent them. This seems very unfair; Can we not simply insist that Alliance & Leicester use our lawyer?
Unfortunately,no. The home loan offered to you contains terms and conditions, a common one being that solicitors needs to be on the Alliance & Leicester approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 Alliance & Leicester
I'm purchasing my first flat in Harlow with a loan from Halifax. The sellers would not move on the price so I negotiated 6k of additionals instead. The estate agent told me not inform my lawyer about this deal as it could impact my loan with Halifax. 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.
I opted to have a survey done on a house in Harlow before instructing conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor has said that some banks may refuse to give a loan on a flying freehold home.
It varies from the lender to lender. HSBC has different requirements for example to Halifax. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Harlow. Conveyancing may be slightly more expensive based on your lender's requirements.
I am using a search engine for the phrase cheap conveyancing in Harlow it reveals many solicitorsin the area. How do I determine which is the suitable property lawyer for my move?
The preferential way of finding the right conveyancer is through a trusted referral, so seek the counsel of friends and those you trust who have bought a property in Harlow or a respected estate agent or financial adviser. Costs for conveyancing in Harlow vary, so it's advisable to secure a minimum of four quotes from different property lawyers. Be sure to secure confirmation that the charges are assured not to to be inflated.
What if there is a problem with one of the searches for my conveyancing in Harlow?
Normally, most adverse entries arising from Harlow conveyancing search responses can be handled before completion or title insurance may be obtained. You should remember that regardless of the fact that you intend on buying the premises and might be willing to accept the search results, your mortgage lender may not, and when all said and done they have the word say.