My wife and I are purchasing a 2 bedroom flat in Bury with a mortgage. We have a Bury solicitor, however the bank advise he's not on their "panel". It seems we have little option but to select one of the mortgage company panel firms or retain our Bury conveyancer as well as pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you 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. A further alternative is for your Bury conveyancing lawyer to apply to be on the conveyancing panel.
My fiance and I changing mortgage lender for our penthouse in Bury with Virgin Money. We have a son 18 who lives with us. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two questions (1) Is this document specific to the Virgin Money conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his entitlement to inherit the property?
First, rest assured that your Virgin Money conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Virgin Money. This is solely used to protect Virgin Money if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Virgin Money had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
Are the Bury conveyancing solicitors identified as being on the Clydesdale conveyancing panel, together with their details provided by Clydesdale?
Bury conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
I'm purchasing a new build house in Bury with a loan from Birmingham Midshires. The builders refused to reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not to tell my solicitor about this side-deal as it may put at risk my mortgage with Birmingham Midshires. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
How easy is it to switch solicitor as I need to instruct one who is on the Yorkshire Building Society conveyancing list. I hired a family conveyancing solicitor in Bury five minutes from me but she is not accepted by Yorkshire Building Society
We will our best to assist in finding you a conveyancing solicitor in Bury on the Yorkshire Building Society panel. Please note that the law firms that we on the directory do not pay us commission if you instruct them and are fully regulated by the SRA who regulate all conveyancing solicitors in Bury. In making use of the find a conveyancing solicitor tool on this page, you can compare and instruct different solicitors and conveyancers both nationally and in Bury.
To what extent are Bury conveyancing solicitors duty bound by the Law Society to issue transparent conveyancing costs?
Contained within the Solicitors Code of Conduct are prescriptive rules and regulations as to how the Solicitors Regulation Authority (SRA) allow solicitors to publicise their fees to clients.The Law Society have a practice note giving advice on how to publicise transparent charges to avoid breaching any such rule. Practice notes are not legal advice issued by the Law Society and is not to be regarded as the only standard of good practice a conveyancing solicitor should adhere to. The Practice Note does, however, represent the Law Society’s view of acceptable practice for publicising conveyancing charges, and accordingly it’s a recommended read for any solicitor or conveyancer in Bury or or elsewhere in the country.