My partner and I are buying a flat in Brixham. My Solicitor has never been on on the mortgage company approved list. Can I still use my Brixham conveyancing solicitor notwithstanding that they are excluded from the mortgage company approved list?
You have numerous alternatives open to you here
- Complete the purchase with your preferred Brixham conveyancer but your mortgage company will need to use a lawyer from their approved list. This will result in additional cost together with potential frustration.
- Choose a new property lawyer to act in the purchase, making sure they are on the mortgage company conveyancing panel.
- Convince your property lawyer to do everything within their powers to get listed on the lender’s panel of solicitors
In reviewing moneysavingexpert.com for a conveyancing solicitor in Brixham, most advise that I must instruct a CQS accredited solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in home ownership transfers, trusted by some of the UK's major mortgage companies. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Society for Licensed Conveyancers. Brixham is one of the many areas of the UK where there are CQS solicitors.
I am purchasing my first flat in Brixham benefiting from help to buy. The developers refused to reduce the price so I negotiated £7000 of additionals instead. The estate agent told me not reveal to my lawyer about the deal as it could impact my loan with the bank. Do I keep my lawyer in the dark?.
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.
My step-father has recommend that I appoint his conveyancers in Brixham. Do I follow his guidance?
No doubt the ideal way to choose a conveyancing solicitor is to get feedback from friends or family who have previously instructed the firm you're considering.
My partner and I about to complete buying a house in Brixham but as a result of wreckage from the recent storms I have agreed recompense from the current proprietors of £2k by way of a adjustment in the price. I had intended this to be dealt with as part of the conveyancing process yet my lender will not permit this. Should they have been involved?
Your lawyer being on a bank approved list is required to inform the lender of any changes to the sale price. In the event that you were to refuse your lawyer to report the reduction to your lender then they would have no choice but to discontinue representing you and the mortgage company.