Unfortunately I am unable to travel far from Norfolk. What is the rationale as to why all Norfolk conveyancing practitioners aren't automatically on all bank panels?
As unjust as it may appear for mortgage companies to limit who can act for them, from the public’s or conveyancer’s perspective, the the contrary view is that lending institutions are becoming ever more anxious and feel it essential to defend themselves from mortgage fraud. As a consequence of this concern banks have consolidated their panel of approved conveyancing lawyers to a manageable size.
We are looking to buy a flat and require a conveyancing solicitor in Norfolk who is on the Virgin Money solicitor panel. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Virgin Money . We don't recommend any particular firms conducting conveyancing in Norfolk.
Is it the case that all Norfolk solicitor practices on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of lenders do allow licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
Can I be sure that the Norfolk conveyancing solicitor on the Virgin Money panel is any good?
When it comes to conveyancing in Norfolk seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor conducting your conveyancing.
I am buying a property in Norfolk. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Bank of Ireland be concerned?
As you are obtaining a mortgage with Bank of Ireland your lawyer must follow the conveyancing instructions outlined in Part two of UK Finance Lenders’ Handbook for Bank of Ireland. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and lawyers are required to report to Bank of Ireland where a lease does not meet these provisions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Norfolk.
What can a local search inform me regarding the property my wife and I buying in Norfolk?
Norfolk conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search organisations for instance Searches UK The local search is essential in every Norfolk conveyancing purchase; that is if you don’t want any unpleasant surprises after you move into your property. The search should supply data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic sections.
I'm purchasing a new build house in Norfolk benefiting from help to buy. The developers refused to budge the price so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not inform my lawyer about this side-deal as it could put at risk my mortgage 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.