My partner and I are hoping to purchase a property in Cottingham and are in fact using a Cottingham conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Mortgage Works have this afternoon contacted us to advise us that there is now an issue as our Cottingham lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Cottingham solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Me and my partner are about to exchange buying a property in Cottingham but as a consequence of damage from the recent storms I have was able negotiate recompense from the owner of £2k by way of a adjustment in the price. I had intended this to be dealt with as part of a side agreement but Nottingham are not allowing this. Should they have been notified?
The conveyancer that is on the Nottingham conveyancing panel is required to inform Nottingham of any changes to the purchase price. If you prohibit your conveyancer to disclose the reduction to Nottingham then they would have to discontinue acting for you. In addition, Nottingham and you would have to appoint a new property lawyer for your conveyancing in Cottingham.
I am planning to move property in May. Does my conveyancing solicitor liaise with the removal company on the completion day. On a separate note, can you suggest a removal company in Cottingham. Conveyancing lawyer was organised prior to coming across your site.
On the afternoon of completion you can collect the keys from the property agent but this can only take place after the previous owners conveyancers advise the agent that the monies to complete are in and the keys can be handed over. You can inform the removal men that they can start moving you in. As a matter of policy we do not recommend a particular removal company but can help you choose a conveyancing in Cottingham or a lawyer that specialises in conveyancing in Cottingham.
How can we tell if a Cottingham conveyancing solicitor on the Lloyds panel is any good?
When it comes to conveyancing in Cottingham seeking recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the solicitor carrying out your transaction.
I am expecting a OIP from TSB this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Cottingham solicitors on the TSB conveyancing panel, or is it better to go independently?
You will need to appoint Cottingham solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I am purchasing my first flat in Cottingham with a loan from Halifax. The builders would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent told me not inform my conveyancer about this extras as it may put at risk my loan with Halifax. Should I keep quiet?.
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 Cottingham conveyancing solicitor who is local to the property I am hoping to buy? An old friend can carry out the legal work however they are based over three hundred kilometers drive away.
The benefit of a local Cottingham conveyancing practice is that you can attend the office to sign documents, present your ID and pester them where appropriate. They will also have local knowledge which is a benefit. That being said nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and the majority were content that must outweigh using an unfamiliar Cottingham conveyancing solicitor solely due to them being local.