I am selling my home in North Finchley and the estate agent has just e-mailed to say that the purchasers are swapping conveyancer. The reason given is that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with specific lawyers rather the firm that they want to select for their conveyancing in North Finchley ?
Banks have always had panels of law firms that can act for them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.
Banks blame a rise in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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.
Is there a search tool that I can utilise to investigate if the solicitor carrying out my conveyancing in North Finchley is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Godiva Mortgages Ltd thus paying £187.00 plus VAT in supplemental conveyancing fees.
You should make the most of the find a conveyancing panel solicitor tool on this page. Please choose the mortgage company and type ‘North Finchley’ or your location and you will be presented with numerous conveyancers based in North Finchley or nearest you.
We are selling our home in North Finchley and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any high street North Finchley lawyer would know that there is no such problem. For the life of me I don't know why the buyers instructed a nationwide conveyancing practice as opposed to a conveyancing solicitor in North Finchley. Having lived in North Finchley for many years we know of no issue. Do we get in touch with our local Authority to get clarification need.
It would appear that you have a conveyancing firm already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am purchasing my first flat in North Finchley with a mortgage from Leeds Building Society. The builders would not move on the price so I negotiated 6k of extras instead. The estate agent advised me not to tell my lawyer about this extras as it will impact my loan with the bank. Is this normal?.
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.
Is it simple use your search app to choose a conveyancing solicitor in North Finchley on the panel for my lender?
1st pick a lender such as Halifax, The Royal Bank of Scotland or Britannia then choose your location such as North Finchley. Conveyancing organisations in North Finchley and across England and Wales will then be shown.
We're novice buyers - agreed a price, but the selling agent advised that the vendor will only move forward if we appoint their chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor accustomed to conveyancing in North Finchley
We suspect that the seller is not behind this request. If they desire ‘a quick sale', alienating a motivated buyer is counter productive. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you intend to appoint your preferred North Finchley conveyancing lawyers - as opposed tothose that will give their estate agent a referral fee or meet his conveyancing figures demanded by corporate headquarters.