My wife and I are intent on purchasing property in Rottingdean. My lawyer is not listed on the lender conveyancing list. Am I still permitted to continue with my Rottingdean conveyancing solicitor notwithstanding that they are not on the bank panel?
Various options include
- Carry on with your preferred Rottingdean property lawyer but your lender will need to use a conveyancing practitioner from their approved panel. This will result in additional charges and probable interruption.
- Get a new solicitor to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your conveyancing practitioner to pull out all the stops to join the bank’s panel of solicitors
I am buying a garden flat in Rottingdean. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Rottingdean you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Rottingdean.
I am buying a new build house in Rottingdean with the aid of help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not reveal to my solicitor about this side-deal as it would jeopardize my loan with the lender. Is this normal?.
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.
Due to the input of my in-laws I had a survey completed on a property in Rottingdean ahead of instructing solicitors. I have been informed that there is a flying freehold element to the property. Our surveyor has said that some lenders tend refuse to give a loan on a flying freehold property.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you call us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Rottingdean. Conveyancing may be slightly more expensive based on your lender's requirements.
We are a couple of weeks into a residential purchase having been referred to a firm by the high street agent to do our conveyancing in Rottingdean. I am am extremely dissatisfied with the level of service. Could you you assist me in finding new solicitors?
A lawyer would have to be very bad in order to consider changing them. Has the loan offer been generated? In the event that it has you will need to inform them of the new lawyer and ensure the mortgage documents are re-issued. The solicitor ideally should be on the lenders approved list to avoid added charges and frustration. That should be your starting point. The find a solicitor tool should assist you in finding a lender approved lawyer for your conveyancing in Rottingdean