Am I correct in assuming that the fact that my solicitor in East Molesey is not identified on my bank's conveyancing panel that there is a problem with the standard of the firm’s work?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 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. If you are concerned you should contact the East Molesey conveyancing practice and enquire why they are no longer on the approved list for your lender.
My partner and I are acquiring a brand new duplex in East Molesey and my solicitor is telling me that she is duty bound to the lender to reveal incentives from the seller. I am on a tight deadline to exchange contracts and my preference is not to delay the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Why do I have to pay up front when it comes to conveyancing in East Molesey?
Where you are retaining lawyers for conveyancing in East Molesey your solicitor will ask you place them with funds to cover the search fees. Generally this is called for to cover the fees of the Local Authority Search. When the deposit is as part of the purchase price then this will be asked for shortly prior to exchange of contracts. The final balance that is needed should be sent to your lawyer a few days prior to the completion date.
How do I check that the solicitor carrying out my conveyancing in East Molesey is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Accord Mortgages Ltd thus spending £187.00 plus VAT in further legal bill.
Feel free to make use of the search tool on this site. Pick the mortgage company and type ‘East Molesey’ or your location and you will discover numerous solicitors offices in East Molesey or nearest you.
I'm buying my first flat in East Molesey benefiting from help to buy. The developers refused to budge the price so I negotiated 6k of additionals instead. The house builders rep advised me not inform my solicitor about this side-deal as it could affect my mortgage with Santander. 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.
Should one as executor remove a departed person's details from the title deeds for a house in East Molesey?
Where a East Molesey property is co-owned and one of the owners dies, the name will not immediately be removed from the title deeds. You are not required to remove their name as when it comes to a sale your lawyer would simply need to evidence why the other owner is missing from the contract, typically this is in the form of a grant of probate.
With the aim of making things simpler in the future you can apply to have the deceased party removed from the title by applying to HM Land Registry with proof of the death. There is no land registry fee payable.