My mortgage broker says he needs my Longbenton lawyer’ panel reference for the HSBC conveyancing panel. What is the best way to discover this. I have contacted my local Longbenton branch but they have not responded to me.
Have you tried speaking to your Longbenton conveyancing practitioner about this?. They should have a central record lender panel numbers.
Will our conveyancer be asking questions regarding flooding as part of the conveyancing in Longbenton.
Flooding is a growing risk for conveyancers dealing with homes in Longbenton. There are those who acquire a house in Longbenton, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which can give them a better understanding of the risks in Longbenton. The standard property information forms sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the owner to determine whether the premises has suffered from flooding. If the residence has been flooded in past and is not disclosed by the vendor, then a buyer could commence a compensation claim as a result of such an incorrect answer. A buyer’s solicitors should also commission an environmental report. This will higlight whether there is any known flood risk. If so, additional inquiries should be conducted.
Due to the input of my in-laws I had a survey completed on a property in Longbenton before instructing solicitors. I have been told that there is a flying freehold overhang to the house. The surveyor advised that some banks tend refuse to give a mortgage on this type of property.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Longbenton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Longbenton to see if the conveyancing costs will increase in light of this.
We're first time buyers - agreed a price, but the agent informed us that the vendor will only go ahead if we appoint the agent's chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Longbenton
It is improbable the owners are driving this. Should the seller require ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Speak to the owners direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you do not need to sell (d) you wish to move quickly (e)however you are going to use your preferred Longbenton conveyancing lawyers - not the ones that will provide their estate agent a introducer fee or hit his conveyancing targets set by head office.
I am short of a 10% deposit on my apartment purchase in Longbenton , but I still want to proceed. Do I have options?
You can agree a lesser deposit. Many vendors will agree to a lower deposit or even no deposit for a first time buyer or 100% mortgage. Be aware though that if you fail to complete you will still need to hand over a minimum of 10% of the purchase price regardless of how much deposit was agreed.
You can also agree a simultaneous exchange and completion as no deposit is required for this however neither party will be tied in until completion actually takes place and it can be risky if sellers change their mind at the last minute