I am progressing with the sale of my flat in Penllergaer and the estate agent has just telephoned to warn that the buyers are switching property lawyer. The excuse is that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a leading lender only deal with specific law firms rather the firm that they want to select for their conveyancing in Penllergaer ?
Lenders have always had panels of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say 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. Your buyers are unlikely to have any impact on this.
My colleague suggested that where I am purchasing in Penllergaer I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Penllergaer conveyancing searches. It is a large document of about 40 pages, listing and setting out important information about Penllergaer around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Penllergaer Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with maps and statistics, Local Amenities and other useful information about Penllergaer.
I'm buying my first flat in Penllergaer with the aid of help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The estate agent suggested that I not disclose to my lawyer about the deal as it could put at risk my mortgage 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.
Are there any apps to assist me to identify a Penllergaer law firm on the Britannia conveyancing panel? I am a keen cyclist and am willing to travel upto 25kilometers to meet the solicitor.
Feel free to make use of the facility on this page. Please choose the lender and your location and you will see a number of Penllergaer conveyancing lawyers based on proximity. We have listed some Penllergaer conveyancing firms at the bottom of this page and you can call them to see if they are on the Britannia member panel
I am four weeks into a freehold purchase having been recommend to conveyancers by the selling agent to handle our conveyancing in Penllergaer. I am am very disappointed with the level of service. Could you you assist me in finding new solicitors?
A lawyer would have to be really bad in order to consider changing them. Has the mortgage offer been sent? If so you must inform them of the replacement lawyer and ensure the mortgage documents are re-sent. Your new solicitor ideally needs to be on the banks panel to avoid supplemental expenses and complications. That should be your starting point. The search tool should help you find a bank approved solicitor for your conveyancing in Penllergaer
Are the Penllergaer conveyancing lawyers identified as being on the mortgage company conveyancing panel, together with their details provided by the mortgage company?
Penllergaer law firm practices and firms conducting conveyancing in Penllergaer themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the bank directly.