Is the fact that my solicitor in Wilford is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Wilford conveyancing firm and ask them why they are no longer on the approved list for your lender.
I am about to put a bid on a leasehold property in Wilford. The property agents say that it is normal for flats in Wilford to have less than 75 years remaining. I am expecting a mortgage with Chelsea Building Society. Will the property be mortgageable given that the lease has Seventy One years remaining.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 12/2/2019 the requirements read as follows :
I'm buying a new build house in Wilford benefiting from help to buy. The builders would not move on the price so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not disclose to my lawyer about the deal as it may 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.
We're novice buyers - agreed a price, but the agent has warned us that the vendor will only move forward if we appoint the agent's chosen solicitors as they need a ‘quick sale’. My instinct tells me that we should use a high street conveyancer used to conveyancing in Wilford
It is improbable the sellers are behind this. If they desire ‘a quick sale', alienating a serious purchaser is counter productive. Bypass the agents and go straight to the owners and make the point that (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you intend to instruct your own,trusted Wilford conveyancing firm - not the ones that will earn the estate agent a kickback or achieve conveyancing thresholds pre-set by corporate headquarters.
Do I have to visit the offices of the lender conveyancing panel solicitor to sign the legal charge? If so, I will choose one who does conveyancing in Wilford so that I can pop in to their offices if required.
Most conveyancing panel lawyers for the bank undertake all of the work via the post, internet or over the phone. This means that they can undertake your Conveyancing Transaction no matter where you live in England or Wales. YOu dont have to use a conveyancing solicitor in Wilford. However you should check if you can still book an appointment to go into appointed conveyancing lawyer if you prefer.