My fiance and I are planning to buy a property in Lamorbey and are in fact using a Lamorbey conveyancing firm. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Lloyds TSB Bank have this afternoon contacted us to advise us that they have now hit a problem as our Lamorbey solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Lamorbey lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
We note that you have a search directory identifying solicitors on the TSB conveyancing panel. Do companies pay you a commission if I appoint them for our conveyancing in Lamorbey?
We are a listing service only for law firms wishing to communicate if they are on the TSB conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lamorbey.
We are buying a property and the solicitor has raised the issue of Chancel Repair for which the property could be liable as it falls into the area of such a church. He has mentioned insurance. Is this strictly necessary for conveyancing in Lamorbey
Unless a prior acquisition of the premises took place post 12 October 2013 you can take it that lawyers conducting conveyancing in Lamorbey to continue to advocate a chancel search and or insurance against a claim.
I'm buying my first flat in Lamorbey with a loan from TSB. The sellers would not reduce the amount so I negotiated £7000 of additionals instead. The house builders rep advised me not disclose to my solicitor about the extras as it will put at risk my loan with the bank. Do I keep my lawyer in the dark?.
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.
We're first time buyers - agreed a price, but the agent informed us that the seller will only proceed if we use the agent's preferred solicitors as they want an ‘expedited deal’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Lamorbey
We suspect that the owner is not behind this demand. If they desire ‘a quick sale', turning down a motivated buyer is counter productive. Try to communicate with the vendors directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you are unencumbered (d) you wish to move quickly (e)but you intend to instruct your own,trusted Lamorbey conveyancing firm - not the ones that will provide their negotiator at the agency a introducer fee or achieve conveyancing targets demanded by HQ.
Do online conveyancing organisations cover everything a local Lamorbey solicitor does or do I still need to retain a solicitor for the final stages for my conveyancing in Lamorbey?
If you instruct an online conveyancer they will undertake all the work your Lamorbey conveyancer would cover.