We are expecting a mortgage offer soon. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to use their panel solicitor as I would much rather use a local conveyancing solicitor in Stone Cross?
You should check but the the probability is that give you one of their panel lawyers should you want the "fee-free" deal. Speak to the bank and check if they make available a monetary alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Stone Cross.
I'm buying my first flat in Stone Cross with a loan from Santander. The builders would not reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not inform my lawyer about the side-deal as it would jeopardize my mortgage with the lender. 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.
My brother has encouraged me to instruct his conveyancing solicitors in Stone Cross. Should I find my own conveyancer?
There are no two ways about it the best way to select a conveyancing solicitor is to have recommendations from friends or family who have previously instructed the solicitor that you are contemplating using.
Looking forward to sign contracts shortly on a ground floor flat in Stone Cross. Conveyancing solicitors have said that they will have a report out to me tomorrow. What should I be looking out for?
The report on title for your leasehold conveyancing in Stone Cross should include some of the following:
Do you need to have carpet in the flat or are you allowed wood flooring? You should be told what counts as a Nuisance in the lease Alterations to the property The total extent of the property. This might be the flat itself but could also include a loft or basement if applicable. You would want to be sent a copy of the lease
I own a ground floor flat in Stone Cross, conveyancing having been completed half a dozen years ago. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Equivalent properties in Stone Cross with over 90 years remaining are worth £195,000. The ground rent is £45 yearly. The lease expires on 21st October 2082
You have 63 years unexpired we estimate the price of your lease extension to span between £16,200 and £18,600 plus costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of comprehensive due diligence. You should not use this information in tribunal or court proceedings. There are no doubt other issues that need to be taken into account and clearly you should be as accurate as possible in your negotiations. Please do not move forward based on this information before seeking the advice of a professional.
I have been Googling for Stone Cross competitive conveyancing fees. Can I be sure that all the Stone Cross law firms that are identified on your site are on the mortgage company conveyancing panel?
The law firms on our directory have assured us via an online form that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the bank panel. To date we have not been informed by either a bank or a member of the public that the data about a specific Stone Cross conveyancing solicitor being on the mortgage company conveyancing panel is not accurate.