We are intending to buy a 2 bedroom flat in Rawcliffe with a mortgage. We have a Rawcliffe solicitor, however the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel firms or retain our Rawcliffe solicitor and pay for one of their panel ones to represent them. This seems very unfair; are we not able to require that the mortgage company use our Rawcliffe solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Rawcliffe conveyancing lawyer to apply to be on the conveyancing panel.
I am purchasing my first flat in Rawcliffe with the aid of help to buy. The sellers would not reduce the price so I negotiated 6k of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about the deal as it may affect my mortgage 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.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a simple, no chain conveyancing. Rawcliffe is the location of the property. What do you suggest?
Flying freeholds in Rawcliffe are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Rawcliffe you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Rawcliffe may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I was advised by a few property agents in Rawcliffe to get a quote from a property lawyer using your seach tool. Is there a financial upside for Estate Agents to recommend your lawyers over and above alternative conveyancing organisations?
We refuse to make any commission for pointing buyers and sellers in our direction. We thought it would be too underhand a fee because a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My father-in-law has urged me to use his conveyancing solicitors in Rawcliffe. Do I follow his advice?
There are no two ways about it the ideal way to choose a conveyancing practitioner is to seek feedback from friends or family who have used the solicitor you're contemplating using.