Am I correct in assuming that the fact that my conveyancer in Ludgershall is not on my mortgage company's conveyancing panel that there is a problem with the quality of her conveyancing?
That is most likely an incorrect assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Ludgershall conveyancing practice and enquire why they are no longer on the approved list for your lender.
I am buying a new build house in Ludgershall with a loan from Barnsley Building Society. The sellers would not reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not reveal to my lawyer about the deal as it may impact my mortgage with Barnsley Building Society. 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.
I decided to have a survey done on a house in Ludgershall in advance of instructing solicitors. I have been informed that there is a flying freehold element to the property. My surveyor has said that some lenders may not grant a loan on a flying freehold house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ludgershall. Conveyancing may be slightly more expensive based on your lender's requirements.
My uncle has urged me to use his lawyers for conveyancing in Ludgershall. Should I use them?
Much as we are happy to recommend a Ludgershall conveyancing lawyer the ideal way to find a conveyancing practitioner is to have feedback from friends or relatives who have actually previously instructed the conveyancer you're considering.
Do I cancel my mortgage payments with Coventry BS as soon as a completion date for my home sale in Ludgershall has been set?
No, you should maintain meeting any mortgage payments to Coventry BS pending the mortgage being redeemed on completion as part of your Ludgershall conveyancing.