We see that you have a search directory listing law firms on the Yorkshire BS conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Cardigan?
We are a listing service only for law firms wishing to communicate if they are on the Yorkshire BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Cardigan.
we are a couple who are purchasing a newbuild apartment in Cardigan with a loan from Aldermore.We use our Cardigan conveyancing lawyer but Aldermore informed us her practice is not on their approved list of member firms. It seems we have no choice but to instruct a Aldermore panel lawyer or retain our local solicitor and pay for a Aldermore panel lawyer to act for them. We feel as though this is unjust; is there anything we can do?
Unfortunately,no. The home loan issued to you is subject to its various provisions, one of which will be that solicitors needs to be on the Aldermore approved list. Until recently, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Aldermore
We are purchasing a property in Cardigan. It might be a silly question but how we can trust a conveyancer? At some point we will need to deposit money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the house in Cardigan. The Cardigan property was put into my name in August. I now wish to sell up. I understand that there is a CML 6 month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view mortgage companies take of it, depend on the lender as this provision is primarily there to identify subsales or the quick reselling of properties.
I have paid off my mortgage with Nationwide. I assume I don't need a Cardigan conveyancer on the Nationwide panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
I'm buying my first flat in Cardigan with the aid of help to buy. The developers would not reduce the amount so I negotiated five thousand pounds worth of extras instead. The property agent advised me not reveal to my conveyancer about this side-deal as it could affect my mortgage with the lender. 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.
Am I better off to instruct a Cardigan conveyancing solicitor based in the location that I am buying? An old friend can handle the conveyancing however they are based 400miles away.
The benefit of a high street Cardigan conveyancing firm is that you can pop in to sign paperwork, deliver your ID and pester them where appropriate. They will also have local knowledge which is a benefit. However nothing is more important than finding someone that will do a good and efficient job. If you know people who instructed your friend and the majority were happy that should outweigh using an unknown Cardigan conveyancing solicitor solely due to them being Cardigan based.