I plan on buying property in Lincolnshire. My lawyer is not listed on the bank approved list. Am I still permitted to retain my Lincolnshire conveyancing solicitor even though they are excluded from the mortgage company approved list?
You have a number of alternatives available to you here
- Proceed with your preferred Lincolnshire conveyancer but your mortgage company will undoubtedly use a property lawyer from their conveyancing panel. This will result in additional fees together with probable delay.
- Appoint a new property lawyer to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
- Convince your conveyancer to attempt to join the bank panel
I happen to be the single beneficiary of my late father’s will and I have everything in my name now, including the house in Lincolnshire. Conveyancing formalities meant that the Land Registry date was in May. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the property in May. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be impacted by that. Some banks would take a pragmatic view as this provision is primarily there to capture subsales or the flipping of properties.
We are getting the release of further funds on our mortgage from Aldermore as we want to carry out renovations to our house in Lincolnshire. Do we need to choose a high street Lincolnshire solicitor on the Aldermore conveyancing panel to deal with the legals?
Aldermore do not ordinarily require a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
About to purchase apartment in Lincolnshire. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Virgin Money conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Lincolnshire solicitor is on the Virgin Money conveyancing panel.
I'm purchasing my first flat in Lincolnshire benefiting from help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not disclose to my conveyancer about the extras as it may jeopardize my loan with Yorkshire Building Society. Is this normal?.
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.
Given that I am about to spend £400,000 on a terraced house in Lincolnshire I wish to talk to a lawyer concerning theconveyancing in advance of appointing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you first talking to the lawyer who will be conducting your conveyancing in Lincolnshire.There is no ‘factory style conveyancing’ - each client is unique individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Lincolnshire should be the figure that you end up paying.
I am 14 days into a leasehold purchase having been recommend to a firm by the selling agent to carry out the conveyancing in Lincolnshire. We are not happy. Could you you assist me in finding new solicitors?
A lawyer would need to be very bad to suggest replacing them. Has the mortgage been sent? In the event that it has you will need to advise them of the replacement solicitor and get the loan are re-sent. Your new conveyancer needs to be on the banks panel to avoid added expenses and frustration. So that should be your first question of the new lawyers. Our find a solicitor tool should help you find a lender approved solicitor for your home move in Lincolnshire