My husband and I are hoping to purchase a flat in Penllergaer and have instructed a Penllergaer conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this afternoon contacted us to inform me that there is now an issue as our Penllergaer lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also represent 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 Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Penllergaer solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Please help. My Penllergaer lawyer is advising me that he has toconduct Penllergaer conveyancing searches becausethe firm are on the HSBCapproved lawyer panel. Do I not have a choice here?
You have limited options available to you. As you are obtaining a home loan with a bank your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Penllergaer conveyancing searches.
We see that you have a post code search directory listing solicitors on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I appoint them for our own conveyancing in Penllergaer?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Penllergaer.
I am purchasing a new build house in Penllergaer with the aid of help to buy. The sellers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The property agent suggested that I not inform my lawyer about this side-deal as it could affect my mortgage with the bank. 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.
Taking into account that I am about to part with £400,000 on a house in Penllergaer I wish to talk to a conveyancer about myhouse move before giving the go ahead to the firm. Is this something that you can arrange?
Absolutely - we would be happy to talk to you we do not take any clients on without you liaising with the conveyancer who will be conducting your property ownership legalities in Penllergaer.There is no ‘factory style conveyancing’ - each client is unique person, not a case reference. The practices that we put you in touch with believe that the figure you are quoted for your conveyancing in Penllergaer should be the figure that you end up paying.
I have been sourcing a conveyancing solicitor in Penllergaer for my remortgage. Is there any facility to see a solicitor's complaints history with the profession’s regulator?
Members of the public can search for presented Solicitor Regulator Association (SRA) decisions stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.