My husband and I are hoping to purchase a 2 bedroom flat in Haydon Bridge with a mortgage. We like our Haydon Bridge conveyancer, however the bank advise she’s not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Haydon Bridge conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your Haydon Bridge conveyancing solicitor to apply to be on the conveyancing panel.
What will a local search tell me about the house I am purchasing in Haydon Bridge?
Haydon Bridge conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company for example Xpress Legal The local search plays an important part in many a Haydon Bridge conveyancing purchase; that is if you don’t want any unpleasant once you have moved into your new home. The search should supply data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject sections.
three months have gone by since my purchase conveyancing in Haydon Bridge took place. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I am buying my first flat in Haydon Bridge with a mortgage from Santander. The developers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not reveal to my conveyancer about the extras as it may affect my loan with Santander. 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've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Haydon Bridge is where the house is located. What do you suggest?
Flying freeholds in Haydon Bridge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Haydon Bridge you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Haydon Bridge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.