We are buying a 1 bedroom apartment in Arley with a mortgage. We like our Arley solicitor, however the mortgage company says she’s not on their "panel". It appears that we have little choice but to use one of the bank panel solicitors or retain our Arley conveyancing practitioner as well as pay for one of their panel firms to act for them. This seems very unfair; can we not require that the lender use our Arley lawyer ?
Unfortunately,no. The mortgage offered to you 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. Another option that might be available is for your Arley conveyancing lawyer to apply to be on the conveyancing panel.
Our Arley lawyer has uncovered a discrepancy between the surveyor’s assumptions in the valuation report and what is in the conveyancing documents. My solicitor has advised that he must ensure that the lender is OK with this discrepancy and is content to go ahead. Is my solicitor’s stance right?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are planning to buy with Earl Shilton BS. We have called around locally but cant to find a Arley conveyancing firm on the Earl Shilton BS panel. Please you assist?
Feel free to take advantage of the find a lender approved solicitor tool on this web page. Pick the mortgage company and type Arley or your preferred area and you will see a number of lawyer offices in Arley or near you.
I completed on my flat on 9 September and my personal details are still not registered. Should I be concerned? My conveyancing solicitor in Arley advises it should be registered in a couple of weeks. Are transfers in Arley particularly slow to register?
There is nothing unique about conveyancing in Arley registration formalities. As opposed to being determined by geographic area, timescales can differ according to who lodges the application, whether there are errors and whether the Land registry must send notices to any other parties. As of today in the region of 80% of such applications are fully dealt with within 12 days but occasionally there can be extensive delays. Historically registration occurs once the purchaser has moved in to the property so 'speed' is not usually top priority but where it is urgent that the the registration takes place urgently then you or your conveyancer can communicate with the Registry to express the reasoning for the application to be prioritised.
I'm buying my first flat in Arley benefiting from help to buy. The builders would not move on the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my conveyancer about the deal as it would put at risk my mortgage with The Royal Bank of Scotland. 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.
Living abroad it is not practicable to travel my Arley conveyancing lawyers office to sign documents for conveyancing in Arley – is this a problem?
You need not be concerned. Arley conveyancing solicitors can conduct conveyancing transactions for clients throughout the rest of the country. You are unlikely to be required to attend a Arley conveyancers office. Almost all conveyancer can deal with all communications remotely from their Arley office.