My wife and I are planning to purchase a home in Caddington and have instructed a Caddington conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Platform Home Loans Ltd have this morning contacted us to advise us that there is now an issue as our Caddington lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Caddington lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Are the Caddington conveyancing solicitors identified as being on the Barclays conveyancing panel, together with their details provided by Barclays?
Caddington conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
I am buying a semi-detached house in Caddington. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Caddington you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Caddington.
I am purchasing my first flat in Caddington with the aid of help to buy. The sellers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not inform my lawyer about the side-deal as it could affect 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.
What does commercial conveyancing in Caddington cover?
Caddington conveyancing for business premises covers a broad array of guidance, given by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.
Am I best advised to go with a Caddington conveyancing lawyer based in the area that I am hoping to buy? We have a good friend who can carry out the conveyancing but his firm is located 400miles drive away.
The primary upside of using a local Caddington conveyancing practice is that you can visit the firm to sign paperwork, present your identification documents and pester them where appropriate. They will also have local knowledge which is a benefit. However it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and on the whole were impressed that should outweigh using an unfamiliar Caddington conveyancing lawyer solely due to them being based in the area.