I am purchasing a leasehold flat in Great Missenden. My lawyer is not on the lender approved panel. Can I still retain my Great Missenden conveyancing solicitor notwithstanding that they are not on the mortgage company panel of approved conveyancing solicitors?
One will need to use a lawyer to deal with the legal work required when you require a mortgage to buy your home. They will conduct all the necessary investigations on the property, ensuring that you will be registered as proprietor and ensure that all the necessary mortgage paperwork is in place. One can instruct a Great Missenden conveyancer of your choosing. Nevertheless, if the conveyancer selected is not on the bank approved list further costs will arise as separate legal representation will be need by the bank. Lender panel applications can be submitted, so provided your lawyer has not previously applied for membership they should take the chance to apply.
My grandson is about to exchange on a newly built flat in Great Missenden with a mortgage from Leeds Building Society. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am considering mortgaging my flat in Great Missenden, does my lawyer have to be on the Kent Reliance Conveyancing panel?
There is nothing to stop you using your solicitor, but Kent Reliance will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
Various web forums that I have visited warn that are a common cause of hinderance in Great Missenden conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Great Missenden.
Should I be suspicious by estate agents that I am dealing with are recommending an internet conveyancing firm rather than a High Street Great Missenden conveyancing company?
As with lots of service providers, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are many people with a vested interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may suggest solicitors to use. On occasion these lawyers might be known to one of the organisations as experts in their field, but sometimes there may be a financial incentive behind the endorsement. You are free to appoint your preferred conveyancer. Don't forget that some mortgage providers operate an approved list of conveyancers you have to use for the lender aspect of your conveyancing.
I would be grateful if you would clarify what my options are where my Great Missenden conveyancing searches reveals adverse results?
Normally, most issues arising from Great Missenden conveyancing search responses can be dealt with before completion or indemnity insurance may be obtained. It is crucial to note that even though you may be buying the premises and might be content to live with the search results, your building society or bank may not, and ultimately they have the word say.