Is the fact that my solicitor in Burton Latimer is not listed on my mortgage company's solicitor panel that there is a problem with the quality of her conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Burton Latimer conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
Can your site be used to find a Conveyancing solicitor in Burton Latimer even where I’m not buying or selling a house, for instance if I want to buy an office in Burton Latimer with a mortgage from Barclays ?
The service is predominantly utilised to help choose domestic conveyancing solicitors in Burton Latimer but we have listed at the bottom of this page some Burton Latimer commercial conveyancing firms. You should speak with the company directly to check if they can also act for Barclays
We're in Burton Latimer, First time buyers buying with a mortgage (lender is Santander , and our solicitor is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
We previously chose conveyancing lawyers located in Burton Latimer on the Principality solicitor approved list. They have just invoiced me a separate amount for dealing with the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your property lawyer is entitled to levy a fee for this. The fee is not dictated by Principality but by your Burton Latimer lawyer. Plenty of firms on the Principality panel will charge an ‘acting for lender’ fee and others do not.
I currently have a mortgage with Coventry BS for my property in Burton Latimer. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
You must advise Coventry BS before letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel lawyer.
I recently had an offer accepted on an apartment in Burton Latimer. My mortgage broker pressured me to appoint their conveyancer. I paid an on account payment of £225. Not long after, the lawyer called me to say that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm buying my first flat in Burton Latimer benefiting from help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not inform my solicitor about this deal as it will impact my loan 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.
We are soon to complete buying a house in Burton Latimer but as a consequence of wreckage from the recent storms I have negotiated compensation from the seller of £3k by way of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process but my bank will not permit this. Why were they involved?
The conveyancing practitioner that is on the bank conveyancing panel is required to disclose to the lender of any amendments to the sale price. In the event that you prohibit your property lawyer to notify the price change to your mortgage company then they would have no choice but to refrain from representing you and the mortgage company.