I have just been advised by my lender that my Wisbech property lawyer is not on the mortgage company Solicitor panel. What can I do to check?
You need to contact your Wisbech lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
Why is leasehold purchase conveyancing in Wisbech costs more?
In short, leasehold conveyancing in Wisbech and elsewhere usually involve additional due diligence compared to freehold conveyancing. This includes reviewing the lease, liaising with the landlord about the service of required notices, procuring up-to-date service charge and management information, obtaining the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
A friend advised me that where I am purchasing in Wisbech I should ask my conveyancer to perform a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually included in the estimate for your Wisbech conveyancing searches. It is not a small report of more than thirty pages, listing and detailing significant information about Wisbech around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Wisbech.
I'm purchasing a new build house in Wisbech with a loan from Clydesdale. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not disclose to my conveyancer about the side-deal as it would affect my mortgage 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.
I'm remortgaging my primary house to a buy to let mortgage with Chelsea Building Society and I will use the ballance of the raised equity as a deposit on another property. The area we are talking about is Wisbech. Will your lawyers be able to act for both sets of mortgage companies and tie in the transactions?
Do use our comparison tool on this site to be sure that the conveyancers are approved by both banks. Having checked that they are your lawyer will be able to tie up the two transactions but you should talk with you conveyancer and make apparent your desired outcome and needs.