Am I correct in assuming that the fact that my conveyancer in Rochdale is not identified on my mortgage company's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Rochdale conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
The owners of the property we are looking to purchase have instructed a conveyancing practitioner in Rochdale who has insisted on a exclusivity contract with a down payment 10k. Are such agreements appropriate for Rochdale conveyancing transactions?
Exclusivity agreements are contracts binding a property vendor and prospective acquirer giving the buyer exclusive rights to purchase the property within a prescribed time frame. Essentially, an exclusivity agreement is a contract specifying that you will have a contract at a later time being the contract for the actual sale. It is generally used for buyer confidence though in some cases, the vendor may stand to benefit from such agreements as well. There are many pros and cons to having them but you should to check with your lawyer but beware that it may result in costing you more in conveyancing fees. In light of this these contracts are unusual in relation to conveyancing in Rochdale.
After researching mumsnet.com for a cheap solicitor in Rochdale, most comment that I must look for a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's major mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. Rochdale is one of the numerous areas in England and Wales where there are Accredited lawyers.
I am buying my first flat in Rochdale with the aid of help to buy. The developers refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not reveal to my lawyer about this deal as it will affect 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.
I was pointed in your direction by a few estate agents in Rochdale to choose a conveyancer using your seach tool. What’s the financial incentive for Estate Agents to recommend your lawyers over and above alternative conveyancing organisations?
We refuse to make any financial incentive for pointing buyers and sellers in our direction. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
What type of conveyancing matters do Rochdale conveyancing practices undertake?
Generally most Rochdale conveyancing companies manage to supply a number of legal advice to home and land owners, sellers, buyers, landlords and tenants such as:
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Domestic sale conveyancing in Rochdale or nationally
Property purchase conveyancing in Rochdale and beyond
Staircasing i.e. buying extra shares of a property that has been purchased through a shared ownership scheme Voluntary first registration of land Lifetime mortgages Transfer of property following relationship breakdown