I am nearing exchange of contracts for my house in Sonning Common and the EA has just called to advise that the buyers are appointing a new conveyancer. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only work with specific solicitors rather the firm that they want to choose for their conveyancing in Sonning Common ?
Lenders have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions blame a rise in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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 unlikely to have any impact on this.
Can your site be used to recommend a Conveyancing solicitor in Sonning Common even where I’m not buying or disposing of a house, for instance where I want to acquire a shop in Sonning Common with a mortgage from Leeds Building Society?
The service is primarily there to locate residential conveyancing solicitors in Sonning Common but we have listed at the bottom of this page a selection of Sonning Common commercial conveyancing firms. You should speak with the solicitors directly to establish if they are also authorised to represent Leeds Building Society
Having spent time researching mumsnet.com for an online solicitor in Sonning Common, most post that I must use a CQS kitemarked solicitor. What is CQS?
Sonning Common Conveyancing Quality Scheme practices have been granted accreditation by the law Society The Law Society introduced CQS to promote high standards in the in the legal transfer of properties. CQS helps consumers to recognise practices that provide a quality residential conveyancing. Sonning Common is one of the many areas in England and Wales in which accredited firms have offices. The conveyancing scheme requires law firms to undergo a strict assessment, compulsory training, self-certification, random audits and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Association of British Insurers.
I'm buying my first flat in Sonning Common with a mortgage from Barclays Direct. The sellers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not reveal to my solicitor about the deal as it may affect my loan with the bank. Do I keep my lawyer in the dark?.
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.
I've recently found out that there is a flying freehold element on a property I put an offer in two weeks back in what should have been a straight forward, no chain conveyancing. Sonning Common is where the house is located. Can you offer any advice?
Flying freeholds in Sonning Common are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Sonning Common you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Sonning Common may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My husband and I are first time buyers - agreed a price, yet the estate agent advised that the owners will only go ahead if we instruct their chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Sonning Common
It is unlikely the sellers are behind this. If they desire ‘a quick sale', alienating a genuine buyer is is going to put the whole deal at risk. Contact the sellers directly 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 intend to proceed fast (e)however you will continue to appoint your preferred Sonning Common conveyancing firm - rather thanthose that will provide the estate agent a introducer fee or achieve conveyancing targets set by head office.