I am progressing with the sale of my house in Loddon and the estate agent has just e-mailed to advise that the purchasers are changing their property lawyer. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. Why would a leading lender only work with certain law firms rather the firm that they want to appoint for their conveyancing in Loddon ?
UK lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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. Your purchasers are unlikely to have any impact on this.
We note that you have a search directory identifying firms on the Nottingham conveyancing panel. Do companies pay you a commission if I instruct them for our conveyancing in Loddon?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Loddon.
In looking at mumsnet.com for a cheap solicitor in Loddon, most post that I must instruct a CQS assured lawyer. What is CQS?
Loddon Conveyancing Quality Scheme solicitors have achieved certification by the law Society The Law Society introduced CQS to establish evidence of quality standards in the home buying process. CQS enables home movers to identify practices who provide a quality residential conveyancing. Loddon is one of locations in England and Wales in which accredited firms are based. The conveyancing scheme obliges practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and annual reviews in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Legal Ombudsman.
I need some fast conveyancing in Loddon as I am faced with an ultimatum to complete in less than 2 weeks. A home loan is not required. Is it possible to escape the need for conveyancing searches to save money and time?
As you are not getting a mortgage you are at free not to do searches although no solicitor would suggest that you don't. Drawing on our experience of conveyancing in Loddon the following are instances of issues that can show up and therefore impact future mortgageability: Enforcement Notices, Overdue Charges, Overdue Grants, Unadopted Roads,...
I have recentlydiscovered that Arc property Solicitors have closed. They conducted my conveyancing in Loddon for a purchase of a leasehold apartment 18 months ago. How can I check that my home is not still registered in the name of the previous owner?
The quickest method to see if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Loddon conveyancing specialists.
I am buying my first flat in Loddon with the aid of help to buy. The builders refused to move on the amount so I negotiated £7000 of extras instead. The house builders rep advised me not inform my solicitor about this deal as it may affect my loan with the bank. 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.