Unfortunately I am unable to travel far from Willen. Can you please explain the reason why all Willen property lawyers are not on all lender panels?
Even though it may seem unfair for lenders to restrict who can act for them, from the public’s or conveyancer’s viewpoint, the other side of the coin is that banks are increasingly anxious and regard it crucial to protect them from illegal activities. As a consequence of this concern banks have consolidated their panel of approved conveyancing lawyers to a manageable size.
We see that you have a search directory listing firms on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Willen?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Willen.
Should my conveyancer be raising questions concerning flooding as part of the conveyancing in Willen.
The risk of flooding is if increasing concern for lawyers dealing with homes in Willen. Plenty of people will purchase a house in Willen, completely expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to give advice on flood risk, but there are a various searches that can be initiated by the purchaser or by their lawyers which can give them a better understanding of the risks in Willen. The standard completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to discover if the property has suffered from flooding. In the event that the premises has been flooded in past which is not disclosed by the owner, then a purchaser could issue a compensation claim stemming from an inaccurate reply. The purchaser’s solicitors should also carry out an environmental search. This will reveal whether there is a recorded flood risk. If so, more detailed investigations should be carried out.
I'm purchasing my first flat in Willen with a loan from HSBC Bank. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not disclose to my conveyancer about the extras as it will impact my loan with the lender. Should I keep quiet?.
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 have been on the look out for a ground for flat up to £245,000 and identified one near me in Willen I like with amenity areas and station in the vicinity, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Willen for this price, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a home loan the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this matter.