Is the fact that my conveyancer in Blaina is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters 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. If you are concerned you should simply call the Blaina conveyancing practice and enquire why they are no longer on the approved list for your lender.
Despite weeks of looking the Title Certificate and documents to my home can not be found. The lawyers who dealt with the conveyancing in Blaina 10 years ago no longer exist. What do I do?
These day there are copies made of almost everything, and your lawyer will know precisely where to look for all the relevant paperwork so you may buy or dispose of your house without a hitch. Where copies can’t be found, your conveyancer can put in place insurance or indemnities against future claims on the property.
I'm purchasing my first flat in Blaina benefiting from help to buy. The sellers refused to budge the amount so I negotiated 6k of extras instead. The sale representative advised me not inform my conveyancer about the extras as it will jeopardize my mortgage with Virgin Money. 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.
Due to the guidance of my in-laws I had a survey completed on a property in Blaina in advance of appointing solicitors. I have been advised that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend not grant a mortgage on such a house.
It depends who your proposed lender is. Bank of Scotland has different requirements from Nationwide. If you call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Blaina. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Blaina to see if the conveyancing costs will increase in light of this.
Do I need to be wary about third parties that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a High Street Blaina conveyancing firm?
As is the case with many professional services, often suggestions from connections can be worth their weight in gold. Yet there are lots of parties with a vested interest in a conveyancing matter; estate agents, mortgage brokers and lenders might all suggest lawyers to select. On occasion these solicitors might be known to one of the organisations as being good in their field, but occasionally there might be a financial incentive behind the endorsement. You are at liberty to choose your preferred lawyer. You need to be aware that some banks have an approved list of lawyers you are obliged to use for the mortgage related work in your conveyancing.