Do all mortgage companies provide you with an approved list of Common Edge conveyancing solicitors? How do you know who is on the conveyancing panel?

Common Edge conveyancing firms themselves provide us confirmation that they are on the conveyancing panel as opposed to being supplied with a list from directly.

This question may be naive but I am unseasoned as a 1st time purchaser of a ground floor flat in Common Edge. Do I receive the keys to the property on the completion date from my conveyancer? If so, I will use a High Street conveyancing solicitor in Common Edge?

There is no need to visit the lawyers office on the day of completion. Your solicitors will electronically transfer the purchase money to the owner’s conveyancers, and once they have received this, you should be called to collect the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.

When it comes to mortgage companies such as , do Common Edge have to pay an annual charge to be on the list of approved solicitors?

We are unaware of any lender fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.

I can not work out if my mortgage offer requires a lease extension. I have called my Common Edge bank branch on a couple of occasions and was told it does not impact the mortgage offer and they will lend. My Common Edge conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they would not lend based on their published requirements. Who do I believe?

As long as the is on the bank panel, she or he must adhere to the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years remaining.

A friend suggested that where I am purchasing in Common Edge I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?

A search of this type is usually quoted for as part of the standard Common Edge conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Common Edge around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Common Edge Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful information regarding Common Edge.

I'm buying a new build house in Common Edge with a loan from . The sellers would not reduce the amount so I negotiated 6k of extras instead. The sale representative suggested that I not disclose to my solicitor about the side-deal as it would affect my mortgage with the lender. Should I keep quiet?.

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.

Do I need to be concerned about third parties that I am dealing with are recommending a nationwide conveyancing firm as opposed to a local Common Edge conveyancing firm?

As is the case with many professional services, often recommendations from connections can be most helpful. Yet there are many players in a conveyancing deal; estate agents, financial adviser and mortgage companies may put forward solicitors to use. Sometimes these lawyers might be known to one of the organisations as being good in their field, but sometimes there is an underlying financial incentive behind the recommendation. You have the right to choose your preferred conveyancer. Don't forget that most lenders operate an approved list of lawyers you have to use for the mortgage aspect of your transaction.