We are acquiring a brand new flat in Stockport and my solicitor is advising me that she is duty bound to the bank to disclose incentives from the builder. I am on a tight deadline to exchange and I don't want to delay deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I can not fathom if my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Stockport building society branch on various occasions and was informed it wasn't a problem and they would lend. My Stockport conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their specific requirements. Who do I believe?
As long as the lawyer is on the mortgage company approved list, they must comply with the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my flat. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Barclays are being difficult. The Stockport solicitor who is on the Barclays conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in Stockport is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am purchasing a property and the lawyer has referenced Chancel Repair to which the property may be liable as it falls into the area of such a church. She has recommended insurance. Is this strictly warranted for conveyancing in Stockport
Unless a prior acquisition of the house completed after 12 October 2013 you may assume that solicitors delivering conveyancing in Stockport to remain recommending a chancel search and or insurance against a claim.
Due to the input of my in-laws I had a survey completed on a house in Stockport ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the house. My surveyor advised that some lenders may not grant a loan on a flying freehold house.
It varies from the lender to lender. HSBC has different instructions from Nationwide. If you call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Stockport. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stockport to see if the conveyancing will be more expensive.
I am 14 days into a residential purchase having been directed to a firm by the high street agent to carry out the conveyancing in Stockport. We are not happy. Could you help me find new solicitors?
A conveyancer would have to be very bad in order to consider changing them. Has your loan offer been sent? If so you need to make them aware of the new contact details and get the offer are re-issued. Your new conveyancer needs to be on the banks approved list to avoid supplemental costs and complications. So that should be your first question of the new conveyancers. Our search tool can help you find a lender approved conveyancer for your conveyancing in Stockport