I have just been advised by my mortgage broker that my Barrow In Furness lawyer is not on the mortgage company Solicitor panel. What can I do to check?
The first thing you need to do is to call your Barrow In Furness conveyancer. You lawyer should inform you what has happened. Where they are not on the panel they may be able to suggest a Barrow In Furness conveyancing firm that is on the approved list of lawyers for your lender.
I had intended to instruct a property lawyer in Barrow In Furness for our home move. Our broker informed us that our bank Lloyds TSB Bank won't deal with them. Why is this not regarded as unduly restrictive?
Lenders tend to imposes restrictions either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the type of firm, a few banks have decided to limit the number of solicitor practices they allow to act for them. You should note that Lloyds TSB Bank have no responsibility for the quality of advice provided by any member of Lloyds TSB Bank Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of solicitor panels since 2008 even though there are differing opinions about the extent of solicitor engagement in some of that fraud. Figures from the Land Registry indicate that plenty of law firms, including some in or near Barrow In Furness only execute one or two conveyances a year.
My partner and I are planning on selling our house in Barrow In Furness and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Barrow In Furness conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using an online conveyancing firm rather than a conveyancing solicitor in Barrow In Furness. We have lived in Barrow In Furness for three years we know of no issue. Do we get in touch with our local Authority to obtain clarification that there is no issue.
It would appear that you have a conveyancing firm already. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
I'm buying a new build house in Barrow In Furness with the aid of help to buy. The developers refused to move on the price so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my lawyer about the extras as it could affect my mortgage with the lender. 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.
Is it best to instruct a Barrow In Furness conveyancing lawyer in close proximity to the house I am buying? We have a good friend who can deal with the conveyancing however her office is 400miles away.
The primary upside of using a local Barrow In Furness conveyancing practice is that you can pop in to execute paperwork, present your ID and apply pressure on them where appropriate. Having local Barrow In Furness know how is a bonus. However it's more important to get someone that will do a good and efficient job. If you know people who used your friend and the majority were content that should trump using an unfamiliar Barrow In Furness conveyancing solicitor solely due to them being round the corner.
My conveyancers in Barrow In Furness have advised me that they can not locate my conveyancing file. To assist with my purchase I took out a mortgage with the mortgage company. Is it case that being on the mortgage company conveyancing panel they need to have retained the file for a prescribed period?
Different lenders have different requirements but many of the Terms and Conditions of Conveyancing Panel Appointment require the file to be held for a period of 6 years. That being said we have not seen a copy of the lender Conveyancing Panel Terms. It might be worth you contacting the lender directly.