My wife and I are hoping to purchase a home in Much Wenlock and are in fact using a Much Wenlock conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Godiva Mortgages Ltd have this evening contacted us to inform me that there is now an issue as our Much Wenlock solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for 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 Accreditation 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 don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Much Wenlock solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Having invested time researching consumer advice sites for a cheap lawyer in Much Wenlock, most comment that I should use a CQS kitemarked lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in buying or selling property, trusted by some of the UK's major banks. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Council of Licensed Conveyancing. Much Wenlock is one of the numerous areas of the UK where there are Accredited solicitors.
When it comes to lenders such as Nationwide, do Much Wenlock conveyancers face a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to register on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
How can we know in advance if a Much Wenlock conveyancing solicitor on the Skipton panel is any good?
When it comes to conveyancing in Much Wenlock seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always advise that you speak with the lawyer conducting your transaction.
Aldermore have agreed my mortgage in principle, my offer on a apartment in Much Wenlock has been agreed to, what happens next?
The estate agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s approved list). Telephone Aldermore or the financial adviser and finalise any outstanding paperwork. Aldermore will sellect a valuer who will get in contact with the estate agent or owners to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight to get a mortgage offer. Aldermore will issue the offer to you and your property lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Much Wenlock.
I used Arc property Solicitors a few years past for my conveyancing in Much Wenlock. Now, I need my files but cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to help locate 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 Much Wenlock 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 buying a new build house in Much Wenlock with a loan from Halifax. The developers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not to tell my lawyer about the deal as it could put at risk my mortgage with Halifax. Should I keep quiet?.
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.
Is there anything unique about your site and alternative web based conveyancing brokers when it comes to conveyancing in Much Wenlock?
At this site secure an accurate costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Much Wenlock. Unlike many estate agents and many comparison sites we do not operate commission arrangements with solicitors. Many agents and online brokers 'recommend' solicitors that pays the most commission, as opposed to the best value conveyancing in Much Wenlock