I am progressing with the sale of my flat in Hove and the EA has just called to say that the buyers are swapping solicitor. I am told that this is due to the fact that the lender will only work with property lawyers on their approved list. Why would a big named mortgage company only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Hove ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Mortgage companies blame a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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. The buyers are not going to have any sway in the decision.
Would the conveyancing solicitors listed on your site perform conveyancing in Hove by way of an attended exchange?
We do have a number of conveyancing experts who can conduct one day exchanges. You should e-mail us to secure a costs illustration and details as to dates.
Have just purchased a probate house at auction in Hove. Conveyancing is necessary. What is next?
Having legally bound yourself to purchase you now have to find a conveyancing lawyer quickly as you will have a pending a drop dead date to complete the property. Every auction property will have an associated auction pack. This will include evidence of title and search results. In the case of leasehold premises the auction papers should contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork relating to a leasehold property. You should give this to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
Last month we had a mortgage agreed in principle with Santander. Hove conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from Santander?
There is no definitive answer here. Have Santander conducted the survey? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander 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 Hove. My mortgage broker pressured me to appoint their conveyancer. I paid an advanced payment of £225. A couple of days later, the conveyancer called me to say 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'm purchasing my first flat in Hove with a mortgage from Britannia. The builders would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not to tell my conveyancer about the side-deal as it could impact my mortgage with Britannia. 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.
How easy is it to use your search tool to find a conveyancing practitioner in Hove on the approved list for my bank?
1st choose a mortgage company such as Birmingham Midshires, Chelsea Building Society or Alliance & Leicester then choose your preferred area for instance Hove. Conveyancing practices in Hove and beyond should be listed.
My husband and I are in the market for a trustworthy conveyancing lawyer in Hove to buy a home. I I am concerned about by bill escalating out of control and there's lots of Hove conveyancing solicitors to choose from...how do I know which one is best to select?
A trustworthy personal recommendation via a person who has used a conveyancing lawyer before is always a good thing. You are likely to know someone who has used a conveyancing lawyer at some point. Feel free to use our comparison tool for Hove conveyancing quotes