My Broadstairs lawyer has identified a difference between the assumptions in the home valuation report and what is revealed within the legal papers for the property. My lawyer has advised that he must ensure that the bank is OK with this discrepancy and is content to go ahead. Is my lawyer’s stance legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
I am remortgaging my home in Broadstairs, does my lawyer need to be on the HSBC Conveyancing panel?
In theory, you could use a solicitor that is not on the HSBC conveyancing panel, but HSBC would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Is it the case that all Broadstairs CQS (Conveyancing Quality Scheme) solicitors are on the RBS conveyancing panel?
Some major banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I recently had an offer agreed on an apartment in Broadstairs. My mortgage broker recommended their conveyancers. I paid an advanced payment of £225. A few days later, the solicitor called me embarrassingly acknowledging that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Co-operative have agreed my home loan in principle, my offer on a property in Broadstairs has been agreed to, what are the next steps?
The estate agent will need to know who your solicitors are (ensure that the conveyancing practitioners are on the bank’s approved list). Call up Co-operative or the financial adviser and finish off any outstanding documentation. Co-operative will appoint a valuer who will get in contact with the estate agent or vendor to book an appointment. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Co-operative will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Broadstairs.
I'm purchasing a new build house in Broadstairs with the aid of help to buy. The sellers would not move on the price so I negotiated £7000 of additionals instead. The house builders rep advised me not reveal to my lawyer about this deal as it will affect my mortgage with the lender. 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.
What tools are available to search for a Broadstairs conveyancing solicitor on the mortgage company conveyancing panel? I have a car and am prepared to travel up to twentykilometers to meet the solicitor.
Feel free to make use of the find a conveyancing panel search on this page. Please choose the lender and your location, in this case Broadstairs and you will see a number of lawyer located nearest Broadstairs. Alternatively you can type in the name of your proposed law firm and see if they are listed as being on the bank solicitor panel.