I am progressing with the sale of my home in Birkenshaw and the EA has just telephoned to say that the purchasers are changing their law firm. I am told that this is due to the fact that the lender will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only engage with specific law firms rather the firm that they want to choose to handle their conveyancing in Birkenshaw ?
Mortgage companies have always had panels of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms 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 buyers are not going to have any sway in the decision.
My grandson is buying a newly built flat in Birkenshaw with a mortgage from Nottingham. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We hope to to purchase with Melton Mowbray Building Society. I dropped in a few high street practices yet am unable to find a Birkenshaw conveyancing firm on the Melton Mowbray Building Society approved list. Please you help?
You should make use of the search tool on this site. Please choose the lender and type Birkenshaw or your location and you will discover a number of lawyer based in Birkenshaw or near you.
My aunt informed me that in buying a property in Birkenshaw there could be a number of restrictions as to what one can do in terms of external changes to the property. Is this right?
There are anumerous of properties in Birkenshaw which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Birkenshaw should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it correct that all Birkenshaw CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing list of approved practices?
Some major banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of conveyancing solicitors.
My wife and I are in the process of looking at houses in Birkenshaw and I am now considering a potential offer. Is it sensible to have my conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with Leeds Building Society.
It would be sensible to commence your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are seeking a mortgage with Leeds Building Society, ask your prospective lawyers if they are on the Leeds Building Society conveyancing panel otherwise they can't do the mortgage legal work.
Will our conveyancer be raising enquiries regarding flooding during the conveyancing in Birkenshaw.
The risk of flooding is if increasing concern for solicitors dealing with homes in Birkenshaw. There are those who acquire a house in Birkenshaw, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to impart advice on flood risk, but there are a numerous searches that may be carried out by the purchaser or by their lawyers which can give them a better appreciation of the risks in Birkenshaw. The standard information supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the seller to discover if the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a purchaser may bring a compensation claim resulting from an inaccurate answer. A buyer’s lawyers may also conduct an enviro search. This will higlight if there is any known flood risk. If so, additional investigations should be conducted.
How does conveyancing in Birkenshaw differ for newly converted properties?
Most buyers of new build or newly converted property in Birkenshaw contact us having been asked by the builder to exchange contracts and commit to the purchase even before the house is constructed. This is because house builders in Birkenshaw tend to buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Birkenshaw or who has acted in the same development.