I am nearing exchange of contracts for my apartment in Tadley and the EA has just e-mailed to advise that the buyers are swapping conveyancer. I am told that this is due to the fact that the bank will only engage with solicitors on their conveyancing panel. Why would a big named mortgage company only work with specific law firms rather the firm that they want to select to handle their conveyancing in Tadley ?
UK lenders have always had panels of law firms they are willing to work with, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions justify this action to a rise in fraud as the reason for the pruning – criteria have been narrowed 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 claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
Would the conveyancing practitioners listed on your site conduct auction conveyancing in Tadley?
We know of a few niche lawyers we can put you in touch with those conducting auction conveyancing. Tadley is one of hundreds of locations where our lawyers cover.
We are buying a house and require a conveyancing solicitor in Tadley who is on the Nationwide solicitor panel. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Nationwide . We don't recommend any particular firms conducting conveyancing in Tadley.
I have been told that property searches are the main reason for obstruction in Tadley house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Tadley.
I'm purchasing my first flat in Tadley with the aid of help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about this side-deal as it will impact my mortgage with Virgin Money. Do I keep my lawyer in the dark?.
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've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Tadley is where the house is located. Can you offer any opinion?
Flying freeholds in Tadley are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tadley you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tadley may decide 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 residence.