I am acquiring a brand new flat in Skegness and my conveyancer is informing me that she is duty bound to the bank to disclose incentives from the seller. I am nearing the developer’s deadline to exchange contracts and my preference is not to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
When it comes to mortgage companies such as Kent Reliance, do Skegness lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
The formalities of my purchase has taken place for my property in Skegness. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
After shopping around on the internet I have found a Skegness solicitor having checked that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 property 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 Skegness postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Skegness.
What will a local search reveal concerning the property we're buying in Skegness?
Skegness conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company such as PSG The local search is essential in every Skegness conveyancing purchase; that is if you wish to avoid any unpleasant once you have moved into your property. The search will supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
I'm purchasing a new build house in Skegness with the aid of help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The sale representative advised me not disclose to my conveyancer about the deal as it would jeopardize my mortgage with Norwich and Peterborough Building Society. Is this normal?.
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 issue on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Skegness is the location of the property. Can you shed any light on this issue?
Flying freeholds in Skegness are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Skegness you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Skegness may determine 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 residence.