It is a dozen years since I acquired my house in Verwood. Conveyancing lawyers have just been retained on the sale but I am unable to track down the deeds. Will this jeopardise the sale?
You need not be too concerned. First the deeds may be with your lender or they could be in the possession of the lawyers who acted in your purchase. Secondly in most cases the land will be registered at the land registry and you will be able to establish that you own the property by your conveyancing solicitors procuring current official copies of the land registers. Nearly all conveyancing in Verwood relates to registered property but in the unlikely event that your home is unregistered it is more tricky but is resolvable.
We are buying a purpose built apartment in Verwood with a loan from Barnsley Building Society.We would like to retain our Verwood conveyancing lawyer but Barnsley Building Society advised that he's not listed on their "panel". We have to appoint a Barnsley Building Society panel firm or retain our local solicitor and fork out for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The loan offered to you contains various provisions, one of which will be that lawyers will be on the Barnsley Building Society approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Barnsley Building Society
We had selected conveyancing lawyers based in Verwood on the Bank of Ireland solicitor approved list. They are now charging me a further sum for dealing with the Bank of Ireland mortgage. Is this an additional conveyancing fee specified by Bank of Ireland?
Unfortunately, as long as it is in their Terms of Engagement or estimate then yes your property lawyer is entitled to charge a fee for this. This fee is not set by Bank of Ireland but by your Verwood property lawyer. Plenty of firms on the Bank of Ireland panel will quote an ‘acting for lender’ fee but some firms include it on their overall fee.
I am purchasing a property in Verwood. A rare aspect is that the roof has a solar panel. Virgin Money have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Virgin Money your lawyer must follow the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for Virgin Money. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and solicitors are required to report to Virgin Money where a lease does not comply with these conditions. The provisions relate to the installation of panels on properties countrywide and is not limited to Verwood.
We were going to get a AIP from Lloyds this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Lloyds recommend any Verwood solicitors on the Lloyds conveyancing panel, or is it better to go independently?
You will need to appoint Verwood solicitors independently although you'll need to choose one on the Lloyds conveyancing panel. The solicitor represents both you and Lloyds through the process.
I'm purchasing a new build house in Verwood with a mortgage from Norwich and Peterborough Building Society. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent suggested that I not reveal to my solicitor about this deal as it may put at risk my loan with Norwich and Peterborough Building Society. Is this normal?.
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.
I opted to have a survey carried out on a property in Verwood before appointing solicitors. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some banks tend refuse to issue a loan on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Verwood. Conveyancing may be slightly more expensive based on your lender's requirements.