I am acquiring an apartment in Settle. My Conveyancer is not on the mortgage company solicitor panel. Is it possible for me to use my Settle conveyancing solicitor notwithstanding that they are not on the mortgage company panel?
Your options include
- Proceed with your existing Settle property lawyer but your bank will undoubtedly retain a conveyancing practitioner on their approved panel. The net result is additional cost together with likely frustration.
- Appoint a fresh conveyancing practitioner to act in the purchase, obviously checking they are on the lender conveyancing panel.
- Appeal to your conveyancing practitioner to attempt to join the lender panel
We are buying a brand new apartment in Settle and my solicitor is informing me that she is duty bound to the lender to reveal incentives from the developer. I am on a tight deadline to sign contracts and I have no desire to delay matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
We previously appointed conveyancing lawyers locally in Settle on the Skipton solicitor approved list. They are now charging me a further sum for dealing with the Skipton mortgage. Is this a supplemental conveyancing fee set by Skipton?
Provided it is contained in their Terms and Conditions or estimate then yes your conveyancing practitioner can charge a fee for this. This fee is not dictated by Skipton but by your Settle lawyer. Plenty of firms on the Skipton panel will quote an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
I had an offer accepted on a property in Settle on 28/12/2018, valuation was booked 4 days later, received a clean bill of health. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Clydesdale and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Clydesdale conveyancing panel. Can the lender hold off the offer?
A lender would not issue a mortgage 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.
After shopping around on the internet I have found a Settle lawyer having checked that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Settle postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Settle.
Due to the guidance of my in-laws I had a survey completed on a house in Settle in advance of retaining conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some lenders will refuse to grant a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements for example to Halifax. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Settle. Conveyancing may be slightly more expensive based on your lender's requirements.
Why is New Build conveyancing in Settle more costly?
Conveyancing in Settle for recently converted or new build homes usually involve adoption of highways & drains, building regulations approval, planning permission, new build warranties such NHBC as well as additional investigations and contractual concerns.