My fiance and I are hoping to buy a property in Lacock and have appointed a Lacock conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Barnsley Building Society have this morning contacted us to advise us that there is now an issue as our Lacock conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also act for the mortgage company. 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Lacock lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Can I use your services to recommend a Conveyancing solicitor in Lacock even if I’m not buying or disposing of a house, for instance if I intend to buy an office in Lacock with a mortgage from Norwich and Peterborough Building Society?
Our search tool is primarily used to help choose domestic conveyancing solicitors in Lacock but we have recorded towards the bottom of this page some Lacock commercial conveyancing firms. You should speak with the solicitors directly to see if they are also authorised to represent Norwich and Peterborough Building Society
Various web forums that I have come across warn that are a common reason for delay in Lacock house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the common causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any holding up conveyancing in Lacock.
I'm purchasing a new build house in Lacock with a mortgage from The Royal Bank of Scotland. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not inform my lawyer about this extras as it could jeopardize my loan with The Royal Bank of Scotland. Is this normal?.
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.
As co-executor for the will of my uncle I am disposing of a residence in Neath but reside in Lacock. My lawyer (based 235 kilometers awayneeds me to execute a stat dec prior to the transaction finalising. Can you recommend a conveyancing solicitor in Lacock to witness and place their company stamp on the document?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will do regardless of whether they are Lacock based