Find a Binfield Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Binfield? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Binfield transaction at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Binfield conveyancers for over 130 lenders.

Recently asked questions about conveyancing in Binfield

I plan on buying a flat in Binfield. My property lawyer is not on the lender approved list. Am I still permitted to use my Binfield conveyancing solicitor notwithstanding that they are not on the lender approved list?

Your options include

  • Proceed with your chosen Binfield solicitor but your mortgage company will no doubt instruct a property lawyer from their conveyancing panel. This will result in additional cost and likely frustration.
  • Appoint a fresh property lawyer to act in the purchase, ensuring that they are on the mortgage company conveyancing panel.
  • Convince your conveyancing practitioner to pull out all the stops to get accepted on the mortgage company panel of solicitors

I am only a couple days away from an exchange on a house in Binfield and my parents have sent the 10% deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the bank concerning my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?

The property lawyer is duty bound to check with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.

We're in Binfield, First time buyers purchasing with a mortgage (lender is Virgin Money , and our lawyer is on the Virgin Money conveyancing panel). How long should the conveyancing process take?

The fact that your lawyer is on the Virgin Money conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.

Will our conveyancer be raising questions regarding flooding during the conveyancing in Binfield.

Flooding is a growing risk for conveyancers specialising in conveyancing in Binfield. There are those who buy a property in Binfield, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory insurance cover, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.

Solicitors are not qualified to give advice on flood risk, but there are a number of searches that may be initiated by the purchaser or by their conveyancers which can give them a better understanding of the risks in Binfield. The standard property information forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to find out whether the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a buyer may issue a claim for damages as a result of such an misleading reply. The buyer’s lawyers may also conduct an environmental search. This should reveal whether there is any known flood risk. If so, further investigations should be conducted.

I am buying a new build house in Binfield benefiting from help to buy. The builders would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not reveal to my lawyer about the deal as it would put at risk my mortgage with Bank of Ireland. 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.

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