My partner and I are looking to purchase a flat in Beaworthy and are in fact using a Beaworthy conveyancing practice. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Virgin Money have this evening contacted us to inform me that they have now hit a problem as our Beaworthy solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Beaworthy solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We are planning to acquire a house and need a conveyancing solicitor in Beaworthy who is on the Bank of Ireland solicitor panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Bank of Ireland . We don't recommend any particular firms conducting conveyancing in Beaworthy.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Beaworthy so that I can attend their offices when needed.
As opposed to 15 years ago, almost all banks no longer require their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to hand over ID documents and there are still manifest advantages to instructing a locally based solicitor, in your case a conveyancing solicitor in Beaworthy.
I'm purchasing a new build house in Beaworthy benefiting from help to buy. The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The estate agent advised me not reveal to my solicitor about this side-deal as it would impact my loan with Birmingham Midshires. 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.
We are in the process of buying a house in Beaworthy. Conveyancing is not yet done but we wish to have the amount we are are buying for confidential from the likes of Zoopla. Is this possible and how?
HM Land Registry by statute are required to disclose price paid data on a register of the title for domestic properties countrywide which includes homes in Beaworthy. The register of ownership is an open document, so the Land Registry would be breaching their statutory duty excluded certain properties such as the one in Beaworthy.
You can make a request of the Land Registry to hide the amount paid data however the answer will be in the negative.