My wife and I are purchasing a 2 bedroom flat in Brackley with a mortgage. We like our Brackley conveyancer, but the lender advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Brackley conveyancer as well as pay for one of their panel firms to act for them. This seems very unfair; can we not require that the bank use our Brackley conveyancer ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Brackley conveyancing lawyer to apply to be on the conveyancing panel.
We note that you have a search directory listing firms on the Coventry BS conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Brackley?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Brackley.
My Conveyancer in Brackley is not listed on the Aldermore Conveyancing Panel. Can I still continue with my prefered solicitor even though they are not on the Aldermore panel?
The limited options available to you here include:
- Carry on with your existing Brackley solicitors but Aldermore will need to retain a conveyancer on their list of acceptable firms. This will result in additional total conveyancing fees as well as cause frustration.
- Find a new practitioner to to deal with the conveyancing, not forgetting to check they are Aldermore approved.
- Try to convince your Aldermore solicitor to seek to join the Aldermore panel
If you had a top tip for choosing a conveyancing solicitor in Brackley what would it be?
It would be unwise to be tempted by the cheapest Brackley conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I'm the only beneficiary of my late mum's estate and I have everything in my name alone, including the my former home in Brackley. The Brackley property was put into my name in September. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in September. Is the property unsalable for six months?
The CML handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How sensible a view banks take of it, depend on the mortgage company as this clause principally exists to capture the purchase and immediately sell or the flipping of properties.
Can you point me to a directory of Santander panel solicitors in Brackley on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings available on the web. If you are in need of a Brackley lawyer on the Santander please use our tool.
I'm buying a new build house in Brackley with a loan from National Westminster Bank. The sellers would not move on the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not reveal to my lawyer about this side-deal as it could impact my loan with the lender. Is this normal?.
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.
Developers have put forward a conveyancing practitioner and I've sought an estimate from them. They are almost three hundred pounds cheaper than my local Brackley lawyer. Should I use them?
Builders frequently have lists of conveyancing practitioners who are quick and who know the builder's paperwork and conveyancer. Plenty of developers offer an inducement to choose a preferred conveyancing practitioner for this reason, any increased charges can be avoided and a developer will not put forward a conveyancing warehouse and run the risk of having the conveyancing stall when they need an exchange in 28 days. A counter-argument for not opting for the suggested property lawyer is that they may be unwilling to 'push' your interests for fear of upsetting the housebuilder. Where you have concerns that this may be the case you should keep with your local Brackley lawyer.