My partner and I are hoping to purchase a home in Widnes and have instructed a Widnes conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Barclays have this evening contacted us to advise us that they have now hit a problem as our Widnes lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Widnes lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Is there a search tool that I can use to investigate if the solicitor handling my conveyancing in Widnes is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Santander thus spending £187.00 plus VAT in supplemental legal bill.
You should take advantage of the search tool on this site. Pick the mortgage company and type ‘Widnes’ or your location and you will discover a number of lawyer based in Widnes or nearest you.
What can a local search reveal concerning the house we're buying in Widnes?
Widnes conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Searchflow The local search is essential in every Widnes conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your new home. The search will reveal information on, amongst other things, details on planning applications applicable 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 topic areas.
I'm purchasing my first flat in Widnes with a mortgage from Yorkshire Building Society. The developers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not to tell my lawyer about the extras as it would put at risk my loan with the lender. Do I keep my lawyer in the dark?.
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've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. Widnes is where the house is located. Can you offer any guidance?
Flying freeholds in Widnes are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Widnes you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Widnes 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.