Unfortunately I am unable to travel far from North Yorkshire. What is the rationale as to why all North Yorkshire conveyancers are not on all mortgage company panels?
Before the recession most mortgage companies had an approach to risk which is different from today. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the conveyancers on your panel. As a result, mortgage companies have subsequently requiredmore data from law firms concerning their operations and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves excluded from lender panels even though they had 100% healthy disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the lenders required.
My wife and I are acquiring a brand new apartment in North Yorkshire and my solicitor is telling me that she has to the bank to disclose incentives from the builder. The Estate Agents are hassling me to exchange contracts and my preference is not to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing my first flat in North Yorkshire benefiting from help to buy. The developers refused to move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not disclose to my conveyancer about this deal as it will affect my mortgage with the lender. 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.
Given that I will soon part with 450k on a two bedroom apartment in North Yorkshire I would like to talk to a solicitor concerning thetransaction prior to appointing the firm. Can this be arranged?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the lawyer due to be conducting your property ownership legalities in North Yorkshire.There is no ‘factory style conveyancing’ - every client is unique person, not a file reference. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in North Yorkshire should be the figure that you end up paying.
As co-executor for the estate of my aunt I am disposing of a house in Newport but live in North Yorkshire. My solicitor (who is 250 kilometers from merequires that I execute a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in North Yorkshire who can witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are North Yorkshire based