My husband and I are purchasing a 1 bedroom flat in Welshpool with a mortgage. We have a Welshpool lawyer, but the lender says he's not on their "panel". We have to appoint one of the lender panel conveyancing practices or retain our Welshpool lawyer as well as pay for one of their panel lawyers to act for them. We regard this is inequitable; are we not able to demand that the lender use our Welshpool solicitor ?
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. A further alternative is for your Welshpool conveyancing solicitor to apply to be on the conveyancing panel.
I am buying a new build house in Welshpool with a loan from The Mortgage Works. The sellers refused to move on the price so I negotiated 6k of extras instead. The sale representative told me not to tell my solicitor about this side-deal as it would jeopardize my loan with the lender. Should I keep quiet?.
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.
Do I need to be concerned about third parties that I am dealing with are encouraging me to use a factory type conveyancing firm rather than a local Welshpool conveyancing firm?
As with many service providers, often referrals from connections can be extremely useful or valuable. Nevertheless there are many players in a conveyancing deal; estate agents, financial adviser and mortgage companies might all recommend solicitors to select. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the recommendation. You have the right to select your preferred lawyer. However, bear in mind that the majority of banks have an approved list of conveyancers you have to use for the lender aspect of your conveyancing.
I need to retain a conveyancing solicitor for residential conveyancing in Welshpool. I've discover a web site which looks to be the perfect solution If there is a chance to get all the legals done via web that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Should one as executor remove a deceased person's name from the title register for a property in Welshpool?
If a Welshpool property is co-owned and one of the proprietors passes away, the name will not immediately be removed from the title deeds. It is not necessary to remove their name as in the event of a sale your lawyer would just be asked to supply proof as to the reason the other owner is not a party to the contract, such as a grant of probate.
With the aim of making things more straight forward in the future you may apply to have the deceased party removed from the title by applying to the land registry with proof of the death. There is no charge from the Registry for this service.