Unfortunately I am unable to travel far from Hendon. I would like to know the logic why all Hendon lawyers aren't automatically on all lender panels?
Lenders highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in mortgage companies purging a number of firms off their official list of approved conveyancers .
My flat in Hendon is up for sale and I have accepted an offer. Does the lawyer have to be required to be on the Aldermore conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Aldermore conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently at the moment.
I'm buying a new build house in Hendon with a mortgage from Barclays . The developers would not budge the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep advised me not reveal to my lawyer about the deal as it will adversely affect my loan with the bank. 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.
What tools are available to search for a Hendon law firm on the Nationwide Building Society conveyancing panel? I am a keen cyclist and am prepared to travel upto 10miles to meet the solicitor.
You can use the facility on this website. Please pick a lender and your location and you will see a number of Hendon conveyancing lawyers located nearest you. We have detailed some Hendon conveyancing firms towards the end of this page and you can call them to check whether they are on the Nationwide Building Society panel
We're new to the buying process - had an offer accepted, but the estate agent has warned us that the owners will only move forward if we use their preferred conveyancers as they need a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Hendon
It is improbable the vendors are behind this. Should the vendor desire ‘a quick sale', turning down a motivated buyer is counter productive. Speak to the owners direct and make the point that (a)you are genuine purchasers (b)you are ready to progress, with finances arranged © you have nothing to sell (d) you wish to move quickly (e)however you are going to instruct your preferred Hendon conveyancing solicitors - not the ones that will provide the estate agent a referral fee or meet his conveyancing thresholds pre-set by HQ.