My flat in Rainford is up for sale and I have a buyer. Does my lawyer need to be required to be on the Lloyds conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
I am buying my first flat in Rainford with a loan from TSB. The developers would not move on the price so I negotiated 6k of extras instead. The estate agent suggested that I not to tell my solicitor about the deal as it may affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one close by in Rainford I like with open areas and station nearby, however it only has 52 years unexpired on the lease. I can't really find anything else in Rainford for this price, so just wondered if I would be making a grave error acquiring a short lease?
If you need a home loan that many years will likely be an issue. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least 2 years you can request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
Am I right to be wary by estate agents that I am dealing with are suggesting a national conveyancing firm as opposed to a High Street Rainford conveyancing firm?
As with lots of professional services, often input from connections can be worth their weight in gold. Nevertheless there are many players in a conveyancing transaction; estate agents, mortgage brokers and banks may put forward lawyers to use. Sometimes the lawyers might be known to one of the organisations as experts in their field, but sometimes there might be a commercial relationship behind the recommendation. You are at liberty to appoint your preferred lawyer. However, bear in mind that most banks specify a panel list of lawyers you must use for the lender related work in your transaction.
My father has suggested that I appoint his lawyers for conveyancing in Rainford. Should I use them?
No doubt the best way to select a conveyancing practitioner is to seek referrals from friends or family who have previously instructed the solicitor you're considering.