My wife and I are buying a 3 bedroom apartment in Prescot and Knowlsey with a mortgage. We have a Prescot and Knowlsey solicitor, however the bank says he's not on their "panel". It seems we have no choice but to appoint one of the bank panel firms or retain our Prescot and Knowlsey conveyancer as well as pay for one of their panel lawyers to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. 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 Prescot and Knowlsey conveyancing lawyer to apply to be on the conveyancing panel.
Are the BSA intent on creating a searchable register to list firms on the Darlington Building Society conveyancing panel for example in Prescot and Knowlsey?
We are not aware of any intention on the part of the BSA to promote such a search facility.
I'm purchasing a new build house in Prescot and Knowlsey with a mortgage from Britannia. The sellers refused to budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my conveyancer about this side-deal as it could affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I decided to have a survey done on a house in Prescot and Knowlsey in advance of retaining solicitors. I have been informed that there is a flying freehold overhang to the property. My surveyor has said that some mortgage companies tend not give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Birmingham Midshires. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Prescot and Knowlsey. Conveyancing will be smoother if you use a solicitor in Prescot and Knowlsey especially if they are accustomed to such properties in Prescot and Knowlsey.
What is different about your site and alternative online quote calculators for conveyancing in Prescot and Knowlsey?
At this site receive a conveyancing quote via a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Prescot and Knowlsey. Unlike many estate agents and many comparison sites we do not operate referral deals with solicitors. A large number of agents and online brokers 'recommend' the firm paying the highest kickback, as opposed to the best value conveyancing in Prescot and Knowlsey