we are a couple who are hoping to buy a newly converted apartment in Moreton with a homeloan from lend.We have a Moreton conveyancing lawyer but lend says he's not on their approved list of firms. we are left little option but to use a lend panel firm or keep our local solicitor and pay for a lend panel lawyer to act for them.This seems very unfair; is there anything we can do?
No, not really. The mortgage offered to you contains terms and conditions, one of which will be that lawyers must be on the approved list.in the past, most banks 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 lawyer to apply to be on the conveyancing panel for
It has been three months since my purchase conveyancing in Moreton completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Moreton with a mortgage from . The sellers would not move on the amount so I negotiated 6k of extras instead. The property agent advised me not to tell my solicitor about the extras as it could put at risk my mortgage with the bank. 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.