Our solicitor has uncovered a a legal deficiency with the lease for the apartment we are purchasing in Ponthir. The seller’s lawyers have put forward defective title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer says that he must ensure that the lender is happy with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
If you had a top tip for choosing a conveyancing solicitor in Ponthir what would it be?
We would encourage you not to go for the lowest Ponthir conveyancing quote. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
Does a directory service exist listing Aldermore panel solicitors in Ponthir on the Council of Mortgage Lender’s Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings visible online. If you are seeking to appoint a Ponthir property lawyer on the Aldermore please make the most of our facility.
is it true that all Ponthir solicitor practices on the Santander conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Santander conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel and in that case the practice would be regulated by the Council of Licensed Conveyancers.
What can a local search inform me about the property I am purchasing in Ponthir?
Ponthir conveyancing often commences with the ordering local authority searches directly from your local Authority or through a personal search company such as Xpress Legal The local search plays a central role in many a Ponthir conveyancing purchase; that is if you don’t want any nasty surprises after you move into your property. The search will provide data on, amongst other things, details on planning applications relevant 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 sections.
I'm buying my first flat in Ponthir with a mortgage from Birmingham Midshires. The sellers refused to budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not to tell my lawyer about the side-deal as it will jeopardize my mortgage 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.
How difficult is it to transfer to a new solicitor as I need to appoint one who is on the Skipton Building Society conveyancing list. I was using a family conveyancing solicitor in Ponthir round the corner but the firm is not accepted by Skipton Building Society
It would be our pleasure to assist you find a conveyancing solicitor in Ponthir on the Skipton Building Society panel. Please note that the law firms that we list do not pay us fee if you instruct them and are authorised and regulated by the SRA who oversee all conveyancing solicitors in Ponthir. In making use of search facility on this website, you can compare charges for conveyancing solicitors in Ponthir and throughout England and Wales.