We wanted to use a conveyancing solicitor in Ponthir for our house move. Our financial adviser has since notified us that our mortgage lenders Skipton Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Banks tend to restrict either the type or the amount of conveyancing firms on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, some have decided to limit the amount of solicitor practices they use to represent them. Be aware that Skipton Building Society have no responsibility for the quality of advice provided by any member of Skipton Building Society Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels a few years ago even though there are differing opinions about the level of solicitor involvement in some of that fraud. Statistics from the Land Registry indicate that plenty of law firms, including some in or near Ponthir only perform one or two conveyances per annum.
I'm purchasing a new build house in Ponthir benefiting from help to buy. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not inform my lawyer about this side-deal as it could affect my loan with the bank. 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.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Ponthir I like with open areas and transport links nearby, the downside is that it's only got 51 years on the lease. There is not much else in Ponthir for this price, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan that many years may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
I need to find a conveyancing solicitor for leasehold conveyancing in Ponthir. I have discover a site which looks to be the perfect answer If there is a chance to get all formalities completed via web that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
How much will conveyancing in Ponthir cost?
The amount you are levied for conveyancing in Ponthir are likely to be calculated at:
- a standard fee; or
- on a time spent basis (i.e. the time spent on the particular case).
These days you seldom hear of Ponthir conveyancing solicitors charge on time basis