My husband and I are planning to buy a home in Hoylake and have appointed a Hoylake conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Clydesdale have this evening contacted us to advise us that they have now hit a problem as our Hoylake lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hoylake lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Should our lawyer be raising questions about flooding as part of the conveyancing in Hoylake.
The risk of flooding is if increasing concern for conveyancers specialising in conveyancing in Hoylake. Plenty of people will acquire a property in Hoylake, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to offer advice on flood risk, however there are a number of searches that may be initiated by the purchaser or by their conveyancers which should figure out the risks in Hoylake. The conventional set of information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the owner to find out whether the premises has historically flooded. If flooding has previously occurred which is not disclosed by the seller, then a buyer may issue a legal claim for losses stemming from an inaccurate reply. A buyer’s conveyancers may also conduct an environmental report. This will reveal whether there is any known flood risk. If so, further investigations should be made.
I'm buying a new build house in Hoylake with a loan from Britannia. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not reveal to my solicitor about this deal as it could affect my loan 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.
What tools are available to identify a Hoylake law firm on the Halifax conveyancing panel? I drive a motor bike and am prepared to travel upto 10kilometers to meet the conveyancer.
You can use the facility on this website. Please pick a bank and your location and you will see a number of Hoylake conveyancing lawyers based on proximity. We have detailed some Hoylake conveyancing firms at the bottom of this page and you can telephone them to check whether they are on the Halifax member panel
When it comes to my conveyancing in Hoylake should I be charged VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Hoylake conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the property lawyer's time in submitting the funds this way.