I am selling my home in Walton on the Hill and the estate agent has just text me to say that the purchasers are appointing a new solicitor. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a major lender only deal with specific law firms rather the firm that they want to appoint to handle their conveyancing in Walton on the Hill ?
Mortgage companies have always had panels of law firms that can act for them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
Can the conveyancing solicitors highlighted via your ’find a lawyer’ app perform right to buy conveyancing in Walton on the Hill?
We work with plenty of conveyancing conveyancers carrying out right to buy conveyancing work Do contact us with a view to obtain a costs calculation.
My grandmother passed away last year and as sole heir and executor I was left the property in Walton on the Hill. The house had a relatively small loan left on it of around £5k. I want to have the title changed into my name whilst I re-mortgage to Nationwide, pay off the mortgage. Is this possible?
Where you plan to re-mortgage then Nationwide will insist on your using a conveyancer on the Nationwide conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nationwide conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nationwide mortgage is registered as a charge at the Land Registry.
I'm purchasing a new build house in Walton on the Hill with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my lawyer about this side-deal as it will affect my loan with Aldermore. Do I keep my lawyer in the dark?.
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.
In what way does the Landlord & Tenant Act 1954 affect my commercial premises in Walton on the Hill and how can you help?
The particular law that you refer to provides protection to business tenants, granting the right to apply to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Walton on the Hill