My husband and I are hoping to buy a 1 bedroom apartment in Hertford with a mortgage. We would like to retain our Hertford solicitor, but the lender advise she’s not on their "panel". It seems we have little option but to use one of the lender panel firms or continue with our Hertford conveyancing practitioner and pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Hertford conveyancing solicitor to apply to be on the conveyancing panel.
I am purchasing a semi-detached house in Hertford. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Hertford 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 Hertford.
We had appointed conveyancing lawyers located in Hertford on the Aldermore solicitor approved list. They are now charging me an additional fee for the legal aspects of the Aldermore mortgage. Is this an additional conveyancing fee specified by Aldermore?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer can levy a fee for this. The charge is not dictated by Aldermore but by your Hertford lawyer. Numerous firms on the Aldermore panel will quote ’dealing with mortgage’ fee and others do not.
We have a mortgage agreed in principle with Principality. Hertford conveyancing solicitors are instructed. How long does it take for Principality to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Principality completed the survey? Have you advised Principality as to your lawyers' details and checked that your lawyers are on the Principality conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer accepted on an apartment in Hertford. My financial adviser recommended their conveyancers. I paid an advanced payment of £225. A few days later, the conveyancer contacted me embarrassingly acknowledging that they were not on the Lloyds conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Lloyds panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have been told that property searches are the number one reason for hinderance in Hertford conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not feature amongst the most frequent causes of delays in the conveyancing process. Searches are not likely to feature in any slowing down conveyancing in Hertford.
I'm purchasing my first flat in Hertford with a loan from Bank of Scotland. The builders refused to move on the price so I negotiated five thousand pounds worth of extras instead. The estate agent told me not disclose to my lawyer about this deal as it will adversely affect my loan with the lender. Should I keep quiet?.
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.
Is it true that a Hertford conveyancing firm has court proceedings brought against them by clients for not carrying out the appropriate conveyancing investigations?
We are not aware of such a Hertford conveyancing claim but according to a recent report, a couple purchasing a house in Cumbria successfully won a claim against their solicitor as a consequence of development permission to construct a wind farm not being identified in conveyancing searches.
If you are purchasing in Hertford It is essential that your property lawyer purchase all Hertford conveyancing searches needed making sure that you have accurate and current information before purchasing a home in Hertford.