I am selling my home in Cheddar and the estate agent has just called to advise that the purchasers are changing their property lawyer. The excuse is that the mortgage company will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only work with specific solicitors rather the firm that they want to appoint for their conveyancing in Cheddar ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Lenders attribute this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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 purchasers are unlikely to have any sway in the decision.
Please could you vouch for a Nationwide Building Society sanctioned Cheddar conveyancing firm finish our house move within a short deadline? Would it be better to use a high street Cheddar conveyancer or a national comparison site?
We would be happy to suggest some excellent Cheddar conveyancing firms. Another option is to visit the high street in Cheddar. Visit some well established firms and request to speak with a conveyancing solicitor for a fee estimate. Explain your time frames together with your reasons and get a commitment on speed. Select the one that genuine.
Can your site be used to find a Conveyancing solicitor in Cheddar even if I’m not purchasing or selling a house, for instance if I intend to buy a shop in Cheddar with a mortgage from Aldermore?
The service is mainly there to find domestic conveyancing solicitors in Cheddar but we have set out towards the end of this page a selection of Cheddar commercial conveyancing firms. You should make contact with the company directly to establish if they can also act for Aldermore
I have a decision in principle. The lender mentioned the home loan came with free conveyancing. Is the implication that I have to instruct their panel conveyancer as I would much rather use a Cheddar based conveyancing firm?
Do check but the chances are that give you one of their panel conveyancers if you want the "fee-free" offer. Contact the bank and explore if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor in Cheddar.
I used Stirling Law a few years past for my conveyancing in Cheddar. I now require my papers however the law firm has closed. What do I do?
Do call 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 Cheddar of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm buying a new build house in Cheddar with a loan from National Westminster Bank. The sellers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The sale representative suggested that I not inform my solicitor about the side-deal as it will impact my mortgage with the lender. Should I keep quiet?.
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.