Much to our surprise we have been told by our financial adviser that my Templecombe lawyer is not on the bank Conveyancing panel. What can I do to be sure whether this is correct?
The sensible course of action for you to take is to call your Templecombe lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
My husband and I are buying a newly converted apartment in Templecombe with a homeloan from Lloyds TSB Bank.We like our Templecombe conveyancing practitioner but Lloyds TSB Bank advised that her practice is not on their "panel". It seems we are left with no choice but to instruct a Lloyds TSB Bank panel firm or keep our preferred solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan offered to you contains terms and conditions, one of which will be that conveyancers must be on the Lloyds TSB Bank approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Lloyds TSB Bank
We had selected conveyancing lawyers with offices in Templecombe on the Virgin Money solicitor approved list. They are now charging me a supplemental sum for the legal aspects of the Virgin Money mortgage. Is this an additional conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your lawyer is entitled to levy a fee for this. This fee is not dictated by Virgin Money but by your Templecombe conveyancer. Plenty of firms on the Virgin Money panel will charge ’dealing with mortgage’ fee and others do not.
My wife and I have organised a further advance on our home loan from UBS as we wish to conduct a loft conversion to our property in Templecombe. Do we need to appoint a high street Templecombe solicitor on the UBS conveyancing panel to deal with the paperwork?
UBS don't usually require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the UBS conveyancing panel.
I'm spending time looking at houses in Templecombe and I am now considering a potential offer. Should I already have a solicitor appointed at this stage? I am planning to take a mortgage with Co-operative.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. As you are obtaining a mortgage with Co-operative, make sure you remember to check that your lawyer is on the Co-operative conveyancing panel.
I have recentlydiscovered that Action Conveyancing have closed. They conducted my conveyancing in Templecombe for a purchase of a leasehold flat 18 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Templecombe conveyancing specialists.
I'm purchasing my first flat in Templecombe with a loan from HSBC Bank. The sellers refused to reduce the amount so I negotiated £7000 of extras instead. The sale representative advised me not disclose to my lawyer about this deal as it could adversely affect my mortgage with the lender. 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.
Am I better off to choose a Templecombe conveyancing practitioner in close proximity to the house I am hoping to buy? An old friend can execute the legal work but his firm is located 300kilometers drive away.
The benefit of a high street Templecombe conveyancing practice is that you can visit the firm to sign paperwork, deliver your identification documents and pester them if necessary. Having local Templecombe know how is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If other friends have used your friend and the majority were content that must trump using an unknown Templecombe conveyancing solicitor just because they are based in the area.