My husband and I are buying a 3 bedroom flat in Yarm On Tees with a mortgage. We like our Yarm On Tees lawyer, however the mortgage company says she’s not on their "panel". We have to appoint one of the lender panel solicitors or keep our Yarm On Tees solicitor and pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Yarm On Tees conveyancing lawyer to apply to be on the conveyancing panel.
I am selling our house in Yarm On Tees and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed a web based conveyancing outfit as opposed to a conveyancing solicitor in Yarm On Tees. We have lived in Yarm On Tees for six years we know that this is a non issue. Do we contact our local Authority to obtain confirmation need.
It would appear that you have a conveyancing firm already. What do they say? 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 sickness)
I am buying a new build house in Yarm On Tees with a mortgage from Norwich and Peterborough Building Society. The sellers refused to reduce the amount so I negotiated £7000 of additionals instead. The property agent told me not inform my conveyancer about the deal as it could put at risk my loan with the bank. Is this normal?.
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 should have been a simple, no chain conveyancing. Yarm On Tees is the location of the property. Can you offer any opinion?
Flying freeholds in Yarm On Tees are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Yarm On Tees you would need to get your solicitor to go 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 Yarm On Tees 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 premises.
We're new to the buying process - agreed a price, but the estate agent told us that the owners will only go ahead if we instruct their chosen lawyers as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor who is familiar with conveyancing in Yarm On Tees
It is unlikely the sellers are behind this. If they require ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Avoid the agents and go straight to the owners and make the point that (a)you are genuine buyers (b)you are ready to go, with finances in place © you have nothing to sell (d) you wish to move quickly (e)but you intend to use your own,trusted Yarm On Tees conveyancing firm - rather thanthose that will give the negotiator at the agency a commission or achieve conveyancing figures set by head office.