I am thinking of remortgaging my house in Princes Risborough, does my lawyer have to be on the Bank of Ireland Conveyancing panel?

There is nothing to stop you using your solicitor, but Bank of Ireland will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.

I'm buying my first flat in Princes Risborough with a loan from Coventry Building Society. The sellers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not disclose to my solicitor about this deal as it will affect my mortgage with the bank. Should I keep quiet?.

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.

I've recently found out that there is a flying freehold issue on a house I have offered on last month in what was supposed to be a simple, chain free conveyancing. Princes Risborough is where the house is located. What do you suggest?

Flying freeholds in Princes Risborough are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Princes Risborough you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Princes Risborough may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.

In searching the web for the words conveyancing in Princes Risborough it reveals numerous conveyancerslocally. With so much choice what is the best way to find the suitable property lawyer for purchase transaction?

The preferential method of choosing the right conveyancer is via trusted testimonial, so ask friends and those you trust who have bought a property in Princes Risborough or the reputable estate agent or financial adviser. Fees for conveyancing in Princes Risborough vary, so it's sensible to request a minimum of three estimates from different conveyancers. Make sure that you clarify that the fees are fixed.

My 20yr old son is about to join the property ladder, he had his mortgage in principle. When the offer was accepted on flat we contacted the lender to issue the formal offer. We were shocked to learn that mortgage companies do not accept all property lawyer, they must be on their panel, is this right?

Lenders normally restrict either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Princes Risborough solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.