I am one month into the sale of my flat in Pinner and the estate agent has just called to warn that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the lender will only engage with solicitors on their approved list. Why would a big named mortgage company only work with specific lawyers rather the firm that they want to appoint to handle their conveyancing in Pinner ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Mortgage companies justify this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any sway in the decision.
A colleague recommended that where I am buying in Pinner I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Pinner conveyancing searches. It is a large report of more than thirty pages, listing and detailing important information about Pinner around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Pinner Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Pinner Education with plans and statistics, Local Amenities and other useful information regarding Pinner.
I'm buying my first flat in Pinner with the aid of help to buy. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The sale representative told me not disclose to my conveyancer about the deal as it could impact my mortgage with Halifax. 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.
My company is looking to lease a unit on a shopping parade. Can you recommend solicitors offering competitive costs for non-domestic conveyancing in Pinner for below 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Pinner, including the disposal and acquisition of businesses as well as simply property. If you are intending to purchase or lease a shop, pub, restaurant, office, retail unit or a complete business we can find you the right lawyer. Regarding the charges this will depend on the structure and terms of the proposed transaction. Let us have your contact information or email so as to enable us to provide you with a fixed commercial conveyancing quote.
My husband and I are a couple of weeks into a residential purchase having been referred to conveyancers by the local agent to perform conveyancing in Pinner. We are not happy. Could you help me find new lawyers?
They would need to be really bad in order to consider diss instructing them. Has your mortgage been issued? In the event that it has you will need to make them aware of the new solicitor and get the mortgage documents are issued to the new lawyers. Your solicitor ideally needs to be on the lenders panel to avoid escalating fees and frustration. That should be your first question of the new solicitors. The find a solicitor tool can help you find a lender approved solicitor for your conveyancing in Pinner