Am I correct in assuming that the fact that my solicitor in Penkridge is not on my bank'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 reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Penkridge conveyancing firm and enquire why they are no longer on the approved list for your bank.
When can the exchange of contracts take place for sale conveyancing in Penkridge and do I need to attend the lawyers branch?
If you are near to our conveyancing solicitors in Penkridge you are welcome to attend to sign contracts. However, the law practices we work with offer a countrywide conveyancing service and give just as comprehensive and professional a job for you when communicating with you digitally. The executing of the contract is not when everything is set in stone. A signed contract is just a prerequisite for the solicitor to officially exchange when the time is right, which is ordinarily shortly after signing. The procedure is is usually a five minute process, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Penkridge)to be in the office available at the end of the phone to exchange contracts.
I am purchasing a terrace house in Penkridge. The intention is to carry out an extension to the side at the property.Will the conveyancing process involve checks to see if these works are permitted?
Your conveyancer will check the registered title as conveyancing in Penkridge can occasionally identify restrictions in the title deeds which prohibit certain changes or necessitated the consent of another owner. Many works call for local authority planning permissions and approval under the building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
We expect to receive a AIP from Leeds Building Society this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Leeds Building Society recommend any Penkridge solicitors on the Leeds Building Society conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Penkridge solicitors independently although you'll need to choose one on the Leeds Building Society conveyancing panel. The solicitor represents both you and Leeds Building Society through the process.
After shopping around on the internet I have found a Penkridge lawyer having checked that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Penkridge postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Penkridge.
I'm purchasing my first flat in Penkridge with a loan from Bank of Scotland. The developers would not budge the price so I negotiated 6k of additionals instead. The estate agent suggested that I not disclose to my lawyer about this deal as it may adversely affect my mortgage with the lender. Do I keep my lawyer in the dark?.
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.
Due to the encouragement of my in-laws I had a survey completed on a property in Penkridge ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the property. My surveyor has said that some mortgage companies may not give a loan on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements from Halifax. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penkridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Penkridge to see if the conveyancing will be more expensive.