Unfortunately I am unable to travel far from Broseley. What is the rationale as to why all Broseley solicitors aren't automatically on all mortgage company panels?
A decade ago most mortgage companies demonstrated an attitude to risk which differs from the current day. The FSA in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Accordingly, mortgage companies have since soughtmore data from law firms concerning their processes and the staff employed by them and set certain criteria such as completing a minimum number of transactions. Many law practices have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the mortgage companies set.
We are purchasing our first home. The lawyer has texted usto see if we want to purchase extra conveyancing searches. Frankly we are clueless as to what's necessary for conveyancing in Broseley
The range of Broseley conveyancing searches should be dictated primarily on the property, the location, the probability of any of these risks, your familiarity of the region and risks, your overall attitude to risk. What matters is that you properly comprehend what information the searches could supply. You may then decide if you personally think you need that information. If uncertain, ask your solicitor to advise.
Is there a reason why leasehold purchase conveyancing in Broseley is more expensive?
The conveyancing fees on a leasehold premises in Broseley is inevitably more expensive when contrasted to a freehold property. This is due to the additional work required in corresponding with the landlord and management company to obtain information about whether the rent and service charges have been discharged and whether there are any large sums expected to be spent in the near future on repairs or maintenance of the building.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Broseley property lawyer on the UBS panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your UBS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the UBS mortgage from the register. UBS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in December 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Lloyds are being pedantic. The Broseley solicitor who is on the Lloyds conveyancing panel is saying indemnity insurance will be fine but Lloyds are insisting on a building regulation certificate. Why do Lloyds have a conveyancing panel if they don't accept advice from them?
It is probably the case that Lloyds have referred the matter to their valuer. The reason why Lloyds may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
About to purchase apartment in Broseley. 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 Kent Reliance 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 Broseley property lawyer is on the Kent Reliance conveyancing panel.
I'm buying my first flat in Broseley with a loan from HSBC Bank. The sellers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not disclose to my solicitor about this extras as it may jeopardize 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.