Me and my fiance are purchasing property in Rubery. My property lawyer has never been on on the bank conveyancing list. Am I still permitted to continue with my Rubery conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
You will need to have a solicitor to complete the formalities when you require a mortgage to buy your home. They will carry out all the essential investigations on the property, make sure that you’re registered as proprietor and ensure that all the necessary mortgage documentation is dealt with. One can instruct a Rubery property lawyer of your choice. Nevertheless, if the conveyancing practitioner selected is not on the bank approved list further charges will arise as separate legal representation will be required by them. Bank panel applications can be submitted, so where your conveyancer has not historically applied for membership they can do so.
My property lawyer in Rubery has never been on on the Virgin Money Approved Panel. Is it possible for me to retain my family solicitor notwithstanding that they are excluded from the Virgin Money list of approved lawyers?
Your options are as follows:
- Carry on with your preferred Rubery solicitors but Virgin Money will need to instruct a lawyer on their panel. This will inevitably rack up the total conveyancing fees and result in delays.
- Find a new practitioner to to deal with the conveyancing, obviously checking they are Virgin Money approved.
- Persuade your Virgin Money based solicitor to attempt to join the Virgin Money panel
I am purchasing a property in Rubery. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
As you are obtaining a mortgage with Virgin Money your lawyer must comply with the formal instructions outlined in Part two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and lawyers are required to report to Virgin Money where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties nationwide and is not isolated to Rubery.
I was told four weeks ago that my mortgage has been agreed to by Clydesdale. Is it usual for Clydesdale to only issue the offer once my solicitor in Rubery is approved on their conveyancing panel? Clydesdale have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Clydesdale to deal with your lawyer's application to be on the Clydesdale conveyancing panel. There's no guarantee that your solicitor will be accepted.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Rubery solicitor - who is on the Clydesdale conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Clydesdale will need an independent valuation of the property. Your lawyer will not arrange this. Usually Clydesdale will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Rubery surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I need some fast conveyancing in Rubery as I am under a deadline to exchange contracts inside 4 weeks. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a cash buyer you have the choice not to have searches conducted although no solicitor would recommend that you don't. With lots of history conveyancing in Rubery the following are instances of what can show up and adversely impact market value: Refused Planning Applications, Overdue Fees, Overdue Grants, Railway Schemes,...
I am purchasing a new build house in Rubery with a loan from Norwich and Peterborough Building Society. The developers would not reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not inform my solicitor about the extras as it will jeopardize my mortgage with the bank. Do I keep my lawyer in the dark?.
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.