Me and my fiance are planning to acquire a 3 bedroom flat in Grays with a mortgage. We like our Grays lawyer, but the bank advise she’s not on their "panel". We have to appoint one of the bank panel conveyancing practices or continue with our Grays conveyancer and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders 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 Grays conveyancing lawyer to apply to be on the conveyancing panel.
Me and my partner are buying a flat in Grays. It might be a silly question but how we can trust a lawyer? On the day of competition we have to send funds into their account. What protection do we have from them run away with our money?
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.
Can you help - my lawyer advises that defective lease insurance is required on my purchase. What is the typical level of cover needed for conveyancing in Grays?
The right level of defective lease indemnity insurance should be dictated by who your lender. It would differ for example between Accord Mortgages Ltd and Skipton Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
I was told three weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Grays is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Do commercial conveyancing searches reveal proposed roadworks that could affect a commercial land in Grays?
Its becoming the norm that commercial conveyancing solicitors in Grays will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Grays. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Grays.
For every commercial conveyancing transaction in Grays it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately may result in delays to Grays commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Grays.
I am buying my first flat in Grays benefiting from help to buy. The developers would not move on the amount so I negotiated five thousand pounds worth of extras instead. The sale representative told me not reveal to my lawyer about this extras as it could jeopardize my loan with the bank. 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.
We had our home loan agreed in principle last Friday with our bank. We appointed a high street conveyancer in Grays last week. Today, our broker contacted us saying that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we had no idea that the lender had some control over our choice Is this legal?
You can actually instruct any conveyencer you prefer to instruct including the said conveyancer in Grays nevertheless if they are not on the your lender's panel you would have to incur additional cost so the bank can appoint their own lawyers. On occasion it is possible your solicitor may apply to get added to the mortgage company panel. Do make the most of web-based tools such as lenderpanel.com to find a conveyancing solcitor in Grays on the bank panel. You can go into your local lender branch in Grays. They can recommend conveyancing solicitors in Grays on the bank panel.