Is the fact that my conveyancer in Deeside is not on my bank's solicitor panel that there is a problem with the quality of his work?
That is more than likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer 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 simply call the Deeside conveyancing firm and enquire why they are no longer on the approved list for your lender.
Our lawyer has uncovered a defect with the lease for the flat we are purchasing in Deeside. The other side have put forward defective title insurance as a workaround. We are content with insurance and will pay for it. Our lawyer has advised that he must ensure that the lender is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Can you clarify what the consequences are if my lawyer’s firm is removed from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Deeside?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
What will a local search inform me about the house my wife and I purchasing in Deeside?
Deeside conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations such as Onsearch The local search plays an important part in many a Deeside conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
I'm buying a new build house in Deeside benefiting from help to buy. The sellers refused to move on the price so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my conveyancer about the deal as it could affect my mortgage with Coventry Building Society. 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.
Taking into account that I will soon part with over three hundred thousand on 3 bedroom house in Deeside I would like to have a conversation with the lawyer concerning theconveyancing prior to giving the go ahead to the firm. Can this be arranged?
This is something that we encourage - it is our preference to talk to you we do not take any clients on without you liaising with the lawyer who will be doing your property ownership legalities in Deeside.There is no ‘factory style conveyancing’ - every client is an important individual, not a matter number. The practices that we put you in touch with believe that the figure you are calculated and presented to you for residential conveyancing in Deeside should be the amount on the final invoice that you end up paying.