I am in the process of selling my ground floor flat in Bredbury and the estate agent has just e-mailed to advise that the buyers are changing their conveyancer. The excuse is that the bank will only work with property lawyers on their conveyancing panel. On what basis would a major mortgage company only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Bredbury ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders justify this action to a rise in fraud as the reason for the pruning – criteria have been tightened 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 hearing daily from firms 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. Your buyers are unlikely to have any sway in the decision.
We note that you have a post code search directory listing law firms on the TSB conveyancing panel. Do companies pay you a referral fee if I appoint them for our own conveyancing in Bredbury?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bredbury.
My friend recommended that if I am purchasing in Bredbury I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Bredbury conveyancing searches. It is not a small document of more than thirty pages, listing and detailing significant information about Bredbury around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Bredbury Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information about Bredbury.
I used Wolstenholmes a few years ago for my conveyancing in Bredbury. I now require my papers however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Bredbury of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Bredbury benefiting from help to buy. The builders refused to budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not to tell my lawyer about this deal as it would affect my loan with Coventry Building Society. 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.
Finally our conveyancing in Bredbury is completing next Friday, however the people I am buying off wants to vacate on the Saturday midday. Should I agree to this?
You can't complete on a Saturday because the bank systems are not working.