I plan on purchasing an apartment in Denbigh. My Conveyancer has never been on on the mortgage company solicitor list. Is it possible for me to appoint my Denbigh conveyancing solicitor even though they are excluded from the bank approved list?
One will need to have a solicitor to deal with the formalities when you require a mortgage to buy your home. They will carry out all the appropriate legal checks on the property, make sure that you will be registered as proprietor and ensure that all the required mortgage documentation is dealt with. One could select a Denbigh property lawyer of your choice. However, if the property lawyer appointed is not on the bank solicitor panel additional fees will be incurred as separate legal representation will be need by the bank. Bank panel applications may be submitted, so if your conveyancer has not previously applied for membership they should take the chance to apply.
My solicitor has discovered a a legal deficiency with the lease for the property we are purchasing in Denbigh. The seller’s lawyers have offered title insurance as a workaround. We are happy with insurance and will pay for it. Our solicitor says that he must ensure that the lender is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
We see that you have a post code search directory listing law firms on the Skipton conveyancing panel. Do companies pay you a referral fee if I retain them for our conveyancing in Denbigh?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Denbigh.
I am purchasing a terraced house in Denbigh. Conveyancing solicitors are said to be ‘a necessary evil’ but can I do it myself?
Leaving aside the complexities and merits of DIY conveyancing in Denbigh you will have to appoint a solicitor on your lender's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Denbigh.
I was recommended by a couple of local property agents in Denbigh to get a quote from a solicitor on your site. Is there a financial incentive for Estate Agents to recommend your lawyers over and above a competitor’s?
We don’t give any financial incentive for pointing buyers and sellers to this site. We found it would be just too difficult to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.