Our solicitor has uncovered a defect with the lease for the flat we are purchasing in Wilton. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor says that he must ensure that the mortgage company is willing to move forward with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their conditions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. The appropriate lender requirements must be adhered to.
We're in Wilton, First time buyers purchasing with a mortgage (lender is Clydesdale , and our solicitor is on the Clydesdale conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Clydesdale conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is there a list of RBS panel conveyancers in Wilton on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the CML or Building Society Association websites. Very few mortgage companies make their panel listings available on the web. Where you are looking for a Wilton conveyancer on the RBS please use our facility.
We are getting the release of further funds on our home loan from Yorkshire BS as we wish to carry out a loft conversion to our property in Wilton. Are we obliged to appoint a local Wilton solicitor on the Yorkshire BS conveyancing panel to handle the legals?
Yorkshire BS do not ordinarily instruct a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS panel.
Planning on purchasing a house in Wilton. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Wilton lawyer is on the Clydesdale conveyancing panel.
My wife and I are selling our house in Wilton and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the purchasers instructed an online conveyancing outfit as opposed to a conveyancing solicitor in Wilton. Having lived in Wilton for six years we know of no issue. Should we get in touch with our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am buying a new build house in Wilton with the aid of help to buy. The builders refused to move on the price so I negotiated £7000 of extras instead. The sale representative told me not to tell my conveyancer about the side-deal as it could impact my loan with the bank. 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.