My fiance and I are planning to acquire a house in Milnthorpe and are in fact using a Milnthorpe conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. National Westminster Bank have this afternoon contacted us to inform me that they have now hit a problem as our Milnthorpe conveyancer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers 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 Quality Scheme. Your property lawyer should contact your mortgage company 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Milnthorpe solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We are selling our property in Milnthorpe and according to the buyers it appears that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a nationwide conveyancing firm as opposed to a conveyancing solicitor in Milnthorpe. Having lived in Milnthorpe for 4 years we know that this is a non issue. Do we contact our local Authority to get confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I have recentlybeen informed that Arc property Solicitors have closed. They conducted my conveyancing in Milnthorpe for a purchase of a freehold house 10 months ago. How can I establish that my home is not still registered in the name of the former proprietor?
The quickest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Milnthorpe conveyancing specialists.
I'm buying my first flat in Milnthorpe with a loan from Clydesdale. The builders would not budge the price so I negotiated 6k of extras instead. The property agent told me not to tell my lawyer about this side-deal as it will jeopardize my loan with the lender. 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.
We have been advised by numerous estate agents that it can take up to two months for Milnthorpe conveyancing to complete.This was a month ago. The paperwork was only sent from the vendors conveyancer yesterday so does the time start running now?
No definitive time frame exists for conveyancing in Milnthorpe. Conveyancing is subject to too much unpredictabilities. Milnthorpe conveyancing searches in and of themselves could take up to month to be returned.