Am I correct in assuming that the fact that my conveyancer in Hall Green is not identified on my lender's conveyancing panel that there is a problem with the quality of his work?
It would be unwise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Hall Green conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
Can the conveyancing solicitors highlighted via your search tool carry out right to buy conveyancing in Hall Green?
We have identified plenty of conveyancing firms carrying out right to buy transactions Please call the lawyers listed with a view to secure a costs calculation.
My fiance and I wish to acquire a newbuild apartment in Hall Green with a loan from Bank of Scotland.We have a Hall Green conveyancing lawyer but Bank of Scotland advised that she’s not on their approved list of member firms. We have to appoint a Bank of Scotland panel lawyer or keep our local solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Bank of Scotland use our lawyer?
No, not really. The loan issued to you is subject to its terms and conditions, one of which will be that solicitors must be on the Bank of Scotland conveyancing panel. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Bank of Scotland
I am buying a new build house in Hall Green with a mortgage from Barclays Direct. The developers would not move on the price so I negotiated 6k of extras instead. The property agent suggested that I not disclose to my solicitor about this extras as it may impact my loan with the bank. Is this normal?.
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.
I decided to have a survey done on a property in Hall Green prior to instructing solicitors. I have been told that there is a flying freehold aspect to the house. The surveyor has said that some mortgage companies will refuse to issue a loan on this type of premises.
It varies from the lender to lender. Santander has different instructions for example to Halifax. If you call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Hall Green. Conveyancing may be slightly more expensive based on your lender's requirements.