I am progressing with the sale of my apartment in Badsey and the estate agent has just called to warn that the buyers are switching conveyancer. The excuse is that the lender will only engage with solicitors on their approved list. Why would a big named lender only deal with certain solicitors rather the firm that they want to choose for their conveyancing in Badsey ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
As a novice what is the most important piece of guidance you can give me regarding purchase conveyancing in Badsey?
You may not hear this from too many lawyers but conveyancing in Badsey or throughout England and Wales is often a confrontational experience. Put another way, when it comes to conveyancing there is lots of opportunity for confrontation between you and other parties involved in the transaction. E.g., the seller, estate agent and even potentially a mortgage company. Selecting a lawyer for your conveyancing in Badsey an important selection as your conveyancer is your adviser, and is the SOLE party in the transaction whose interest is to look after your legal interests and to protect you.
We are witnessing a worrying ongoing adversarial element to conveyancing- someone has to be at fault for the process being so protracted. You your first instinct should be to trust your solicitor ahead of the other parties when it comes to the legal assignment of property.
Do I need to attend the offices of the solicitor to execute the legal charge? If so, I will choose one who does conveyancing in Badsey so that I can pop in to their offices if necessary.
These days conveyancing panel lawyers for lenders conduct their communications via Royal Mail, internet or over the phone. This means that they can undertake the conveyancing transaction regardless of where you live in the country. That being said you can check if you can still book an appointment to visit conveyancing lawyer if just in case this is required.
I have recentlydiscovered that Stirling Law have closed. They conducted my conveyancing in Badsey for a purchase of a leasehold flat 12 months ago. How can I establish that my home is in my name in the name of the previous owner?
The quickest method to see if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Badsey conveyancing specialists.
I am purchasing a new build house in Badsey with the aid of help to buy. The sellers refused to move on the amount so I negotiated £7000 of extras instead. The sale representative advised me not to tell my solicitor about the side-deal as it may adversely affect my loan with Nottingham Building Society. 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 need to find a conveyancing solicitor for leasehold conveyancing in Badsey. I happened to discover a site which looks to be the perfect offering If there is a chance to get all formalities done via web that would be ideal. Should I be wary? What are the potential pitfalls?
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?