I plan on acquiring a ground floor flat in Heathfield. My property lawyer is not listed on the lender solicitor list. Can I still use my Heathfield conveyancing solicitor even though they are excluded from the mortgage company approved list?
You must appoint a conveyancing practitioner to complete the formalities when you require a mortgage to buy your home. The conveyancing practitioner will conduct all the essential legal checks on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage paperwork is dealt with. You could appoint a Heathfield property lawyer of your choice. Nevertheless, where the lawyer appointed is not on the bank conveyancing panel supplemental fees will be levied as separate legal representation will be need by the mortgage company. Conveyancing panel applications may be submitted, so if your solicitor has not in the past applied for membership they should do so.
Can the conveyancing solicitors that you recommend conduct auction conveyancing in Heathfield?
There are a few niche lawyers we can connect you with those who can conduct auction conveyancing. Heathfield is just one of our areas of where our lawyers have offices.
I'm buying my first flat in Heathfield with a loan from Bank of Scotland. The developers would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not disclose to my lawyer about the extras as it may put at risk my mortgage with Bank of Scotland. Do I keep my lawyer in the dark?.
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 Heathfield in advance of instructing conveyancers. I have been told that there is a flying freehold element to the house. The surveyor has said that some lenders tend refuse to grant a loan on a flying freehold premises.
It varies from the lender to lender. Lloyds has different requirements from Nationwide. If you e-mail us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Heathfield. Conveyancing may be slightly more expensive based on your lender's requirements.
I have been advised by a number of property agents in Heathfield to choose a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to offer your lawyers over and above a competitor’s?
We don’t give any financial incentive for sending work our way. We found it would be just too difficult to pay a commission as home movers will think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.