We are hoping to buy a 1 bedroom apartment in West Harrow with a mortgage. We wish to retain our West Harrow solicitor, but the mortgage company says she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our West Harrow conveyancing practitioner and pay for one of their panel firms to act for them. This feels very unfair; are we not able to insist that the lender use our West Harrow conveyancer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, 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. Another option that might be available is for your West Harrow conveyancing solicitor to apply to be on the conveyancing panel.
The owners have rather brash vendors who has suggested a preliminary contract with a down payment 10k. Are such contracts appropriate for West Harrow conveyancing transactions?
Exclusivity agreements are contracts binding a property seller and prospective acquirer granting the buyer the sole right to the sale of the property within a prescribed time frame. For all intents and purposes, an exclusivity agreement is a contract specifying that you should receive a contract at a later date which is the main conveyancing contract. It tends to be utilised for buyer assurance though in some cases, the vendor may stand to benefit from such agreements as well. There are various pros and cons to having an agreement but you should to check with your lawyer but note that it may end up costing you more in conveyancing fees. For these reasons these contracts are unusual when it comes to conveyancing in West Harrow.
My lender has suggested solicitors on their panel based in West Harrow but I would rather choose a conveyancing lawyer in West Harrow local to me. Can you assist?
Not all West Harrow conveyancing firms are on all banks conveyancing panel. Do make the most of our find an approved solicitor tool to identify a West Harrow conveyancing solicitor on the on the mortgage company panel.
We had chosen solicitors with offices in West Harrow on the Virgin Money solicitor approved list. They have just billed me a separate sum for the legal aspects of the Virgin Money mortgage. Is this a supplemental conveyancing fee set by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancing practitioner can levy a fee for this. This charge is not set by Virgin Money but by your West Harrow lawyer. Some firms on the Virgin Money panel will quote an ‘acting for lender’ fee and others do not.
We were going to get a OIP from Aldermore this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any West Harrow solicitors on the Aldermore conveyancing panel, or is it better to go independently?
You will need to appoint West Harrow solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Bank of Ireland are being pedantic. The West Harrow solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am purchasing my first flat in West Harrow with a mortgage from Accord Mortgages Ltd. The sellers would not move on the price so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my solicitor about this side-deal as it will put at risk my mortgage with Accord Mortgages Ltd. Is this normal?.
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 UK Finance website. UK Finance 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 need to instruct a conveyancing solicitor in West Harrow for my home move. Is it possible to see a solicitor's record with the legal regulator?
You may see presented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after Jan 2008. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA sometimes recorded call for training requirements.