My husband and I are acquiring a leasehold flat in Kirkby Stephen. My Conveyancer is not listed on the mortgage company approved panel. Is it possible for me to use my Kirkby Stephen conveyancing solicitor even though they are excluded from the mortgage company approved list?
Various options include
- Carry on with your existing Kirkby Stephen lawyer but your mortgage company will no doubt instruct a conveyancing practitioner from their approved panel. The net result is additional fees together with likely frustration.
- Choose a new property lawyer to act in the purchase, ensuring that they are on the bank conveyancing panel.
- Convince your property lawyer to apply to join the bank panel
I am buying my first flat in Kirkby Stephen benefiting from help to buy. The sellers would not move on the price so I negotiated 6k of extras instead. The estate agent advised me not disclose to my solicitor about this side-deal as it will affect my loan with the bank. 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 carried out on a property in Kirkby Stephen ahead of retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will not grant a loan on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. Should you wish to telephone us we can look into this further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Kirkby Stephen. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kirkby Stephen to see if the conveyancing will be more expensive.
My husband and I are novice buyers - agreed a price, but the estate agent informed us that the owners will only issue a contract if we appoint their recommended lawyers as they want a ‘quick sale’. My instinct tells me that we should use a family conveyancer used to conveyancing in Kirkby Stephen
We suspect that the seller is not behind this ultimatum. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Try to communicate with the sellers directly and make sure they comprehend that (a)you are genuine buyers (b)you are excited to move forward, with finances arranged © you are unencumbered (d) you wish to move quickly (e)but you will continue to appoint your preferred Kirkby Stephen conveyancing lawyers - rather thanthose that will earn the estate agent a referral fee or meet his conveyancing thresholds set by head office.
My partner and I have AIP from Barnsley Building Society who have advised we could borrow up to £350k. At what point do we need to appoint a lawyer for conveyancing? Kirkby Stephen is where we are .
It would be wise to instruct a property lawyer now so that the conveyancer can open the ledger so they can conduct the AML checks etc. Once you wish them to commence work they will seek a deposit normally about £225. That would generally be after you have the mortgage offer and valuation results, but should you want to speed matters you can start the ball rolling sooner even though you may be risking some money.