Me and my partner are purchasing a 3 bedroom flat in Northwood with a mortgage. We have a Northwood solicitor, but the mortgage company advise she’s not on their "panel". It appears that we have no choice but to select one of the lender panel conveyancing practices or keep our Northwood conveyancing practitioner as well as pay for one of their panel firms to act for them. We consider that this is inequitable; are we not able to require that the mortgage company use our Northwood conveyancing practitioner ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Northwood conveyancing solicitor to apply to be on the conveyancing panel.
What will a local search tell me concerning the property we're purchasing in Northwood?
Northwood conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search company for example Onsearch The local search is essential in every Northwood conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic headings.
The deeds to our property can not be found. The conveyancers who did the conveyancing in Northwood 4 years ago are no longer around. What do I do?
Nowadays there are duplicates made of almost everything, and your conveyancer should be aware exactly where to find all the suitable documentation so you may buy or dispose of your property without any difficulty. Where duplicates are not available, your solicitor may be able to arrange cover in the form of insurance or indemnities against future claims on your premises.
I'm purchasing my first flat in Northwood with a mortgage from Bank of Scotland. The builders would not move on the price so I negotiated 6k of extras instead. The property agent advised me not reveal to my solicitor about this side-deal as it will affect my loan with Bank of Scotland. Should I keep quiet?.
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.
My father has urged me to use his lawyers for conveyancing in Northwood. Should I use them?
There are no two ways about it it’s preferable to select a conveyancing practitioner is to have recommendations from friends or relatives who have used the firm that you are are thinking of instructing.