I am purchasing a flat in Stevenage. My Solicitor has never been on on the lender approved panel. Am I still permitted to continue with my Stevenage conveyancing solicitor even though they are not on the mortgage company list of approved lawyers?
One must have a conveyancing practitioner to complete the formalities when you take out a mortgage to buy your home. The lawyer will conduct all the necessary investigations on the property, ensuring that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is in place. You may instruct a Stevenage conveyancing practitioner of your choice. However, where the lawyer selected is not a member of the mortgage company solicitor panel further costs will arise as separate legal representation will be required by them. Bank panel applications may be submitted, so provided your solicitor has not historically applied for membership they should take the opportunity to apply.
My grandson is about to exchange on a new build apartment in Stevenage with a home loan from RBS. His solicitor has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the RBS conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the RBS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As a FTB what is the most important piece of guidance you can give me regarding purchase conveyancing in Stevenage?
Not many law firms or advisers will tell you this but conveyancing in Stevenage or throughout Hertfordshire is often a confrontational experience. In other words, when it comes to conveyancing there is plenty of room for friction between you and other parties involved in the legal transfer of property. E.g., the seller, selling agent and sometimes your lender. Choosing a law firm for your conveyancing in Stevenage is a critical decision as your conveyancer is your adviser, and is the ONLY person in the process whose role it is to act in your best interests and to keep you safe.
On occasion a third party with a vested interest will try and persuade you that it is in your interests to do things their way. For instance, the selling agent may claim to be assisting by claiming that your lawyer is dragging his heels. Or your mortgage broker may tell you to do take action that is against your lawyers guidance. You should always trust your lawyer above all other parties in the home moving process.
Please explain the implications if my solicitor is suspended from the TSB Conveyancing panel ahead of completing my conveyancing in Stevenage?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial land in Stevenage?
Its becoming the norm that commercial conveyancing solicitors in Stevenage will execute a SiteSolutions Highways report as it reduces the time that conveyancers expend in researching accurate data on highways that impact buildings and development assets in Stevenage. The search result sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Stevenage.
For each commercial conveyancing transaction in Stevenage it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can result in delays to Stevenage commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Stevenage.
I was recommended by two or three local selling agents in Stevenage to choose a property lawyer using your seach tool. Is there a financial incentive for Estate Agents to offer your site ahead of another?
We don’t give any referral fee for directing people our way. We thought it would be too underhand a fee as home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.