I can't travel far from Littleport. Is there a reason why all Littleport property lawyers aren't included on all lender panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies pruning less reputable firms off their official list of approved solicitors .
We're in Littleport, First timers buying with a mortgage (lender is Aldermore , and our solicitor is on the Aldermore conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Aldermore conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I used Arc property Solicitors a few years ago for my conveyancing in Littleport. Now, I need the files however cannot find the solicitor. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Littleport of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Littleport with a loan from Godiva Mortgages Ltd. The developers would not budge the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not disclose to my lawyer about this side-deal as it could adversely affect my loan with the lender. 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.
I'm converting the mortgage on my existing house to a BTL loan with Chelsea Building Society and I will use the ballance of the raised equity as a deposit on further property. The location we are talking about is Littleport. Will your solicitors be able to act for both sets of lenders and tie in the transactions?
Do use our search tool on this page to be sure that the conveyancers are on the relevant lender panels. Having checked that they are the solicitor should be able to connect the two transactions but you should have a chat with you lawyer and specify your desired outcome and needs.
What tools are available to find a Littleport conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to 15miles to meet the solicitor.
Feel free to make use of the find a conveyancing panel tool on this website. Please choose the lender and your location, in this case Littleport and you will see a number of lawyer located nearest Littleport. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the mortgage company solicitor panel.