My wife and I are planning to acquire a 3 bedroom flat in Leyland with a mortgage. We like our Leyland lawyer, but the lender says he's not on their "panel". We have to appoint one of the bank panel firms or continue with our Leyland solicitor and pay for one of their panel firms to represent them. We regard this is unjust; are we not able to insist that the lender use our Leyland lawyer ?
No, not really. Your mortgage offer 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 Leyland conveyancing solicitor to apply to be on the conveyancing panel.
We're in Leyland, First time buyers buying with a mortgage (lender is Skipton , and our solicitor is on the Skipton conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Skipton 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.
Do commercial conveyancing searches disclose impending roadworks that could impact a commercial land in Leyland?
Many commercial conveyancing solicitors in Leyland will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Leyland. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Leyland.
For every commercial conveyancing transaction in Leyland it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Leyland commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Leyland.
I am buying a new build house in Leyland with the aid of help to buy. The developers would not reduce the amount so I negotiated 6k of additionals instead. The house builders rep advised me not inform my conveyancer about this side-deal as it would 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.
Due to the input of my in-laws I had a survey completed on a house in Leyland prior to appointing lawyers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some lenders tend not grant a mortgage on this type of house.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Leyland. Conveyancing may be slightly more expensive based on your lender's requirements.