My wife and I are buying a 3 bedroom flat in Crook Log with a mortgage. We like our Crook Log conveyancer, however the mortgage company says she’s not on their "panel". It appears that we have no choice but to appoint one of the lender panel conveyancing practices or continue with our Crook Log conveyancer and pay for one of their panel ones to act for them. This feels very unfair; is there anything we can do?
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. A further alternative is for your Crook Log conveyancing lawyer to apply to be on the conveyancing panel.
We are expecting a mortgage offer soon. The lender mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would prefer to instruct a local conveyancing solicitor in Crook Log?
You should check but the chances are that give you one of their panel lawyers where you want the "fee-free" deal. Call the mortgage company to explore if they offer you a monetary alternative. In the past a few lenders offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor near Crook Log.
I am buying a new build house in Crook Log with a loan from National Westminster Bank. The sellers would not reduce the amount so I negotiated 6k of additionals instead. The sale representative advised me not reveal to my conveyancer about this side-deal as it would jeopardize my loan with the bank. Should I keep quiet?.
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 have been on the look out for a flat up to £235,500 and found one near me in Crook Log I like with a park and railway links nearby, the downside is that it only has 49 years on the lease. I can't really find anything else in Crook Log suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage that many years will be an issue. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
I'm converting the mortgage on my primary property to a buy to let loan with Godiva Mortgages Ltd and I will use the rest of the raised equity as a down payment on further house. The area we are talking about is Crook Log. Will your lawyers be able to act for the two lenders and tie in the conveyances?
Do use our search tool on this site to be sure that the conveyancers are approved by both banks. On the basis that they are the conveyancer will be able to connect the two deals but you should have a chat with you solicitor and make apparent your desired outcome and needs.
I need to retain a conveyancing solicitor for sale conveyancing in Crook Log. I've discover a web site which appears to be the ideal answer If it is possible to get all this stuff done via email that would be preferable. Should I be wary? What should out be looking out for?
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?