I am nearing exchange of contracts for my ground floor flat in West Hill and the EA has just e-mailed to warn that the purchasers are changing their property lawyer. I am told that this is due to the fact that the lender will only engage with property lawyers on their conveyancing panel. On what basis would a big named lender only work with specific lawyers rather the firm that they want to select to handle their conveyancing in West Hill ?
Banks have always had an approved set of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks justify this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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. Your buyers are not going to have any sway in the decision.
Would the conveyancing practitioners highlighted through your search tool handle right to buy conveyancing in West Hill?
We work with numerous conveyancing practitioners carrying out right to buy conveyancing Do contact the lawyers listed in order to secure a conveyancing quote.
Do I need to pay for insurance to address the risk of chancel repairs when purchasing a property in West Hill?
Unless a previous acquisition of the premises completed post 12 October 2013 you could expect conveyancing practitioners conducting conveyancing in West Hill to continue to suggest a chancel search and or chancel repair liability policy.
I'm purchasing a new build house in West Hill with a mortgage from Skipton Building Society. The developers would not budge the price so I negotiated 6k of additionals instead. The house builders rep suggested that I not reveal to my lawyer about the deal as it could affect my mortgage 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 decided to have a survey carried out on a house in West Hill in advance of appointing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold property.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in West Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
My step-father has suggested that I appoint his conveyancing solicitors in West Hill. Should I choose my own property lawyer?
No doubt the ideal way to find a conveyancing practitioner is to get feedback from friends or family who have actually used the solicitor that you are are thinking of instructing.