My husband and I are acquiring a newly built apartment in Ravensthorpe and my solicitor is informing me that she has to the bank to disclose incentives from the developer. I am on a tight deadline to sign contracts and my preference is not to delay deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company 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 have an AIP. The lender mentioned the mortgage came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would prefer to appoint a Ravensthorpe based conveyancing firm?
Do check but the chances are that give you one of their panel lawyers where you want the "fee-free" offer. Speak to the lender to check if they make available a monetary alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Ravensthorpe.
Are all Ravensthorpe Conveyancing Quality Solicitors on the Bank of Ireland conveyancing list of approved solicitors?
Some major lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
Is it the case that all Ravensthorpe conveyancing solicitors on the Barclays conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Barclays approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many mortgage companies do permit licenced conveyancers on their panel and in that case the organisation would be overseen by the CLC.
We previously appointed conveyancing lawyers located in Ravensthorpe on the RBS solicitor panel. They are now charging me an additional amount for the legal aspects of the RBS mortgage. Is this a supplemental conveyancing fee specified by RBS?
Provided it is contained in their Terms of Engagement or Quote then yes your lawyer is entitled to levy a fee for this. The charge is not set by RBS but by your Ravensthorpe solicitor. Some firms on the RBS panel will charge an ‘acting for lender’ fee but plenty of firms incorporate it on their overall fee.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, chain free conveyancing. Ravensthorpe is the location of the property. Is there any advice you can impart?
Flying freeholds in Ravensthorpe are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ravensthorpe you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ravensthorpe may determine 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.
We're first time buyers - had an offer accepted, yet the agent has warned us that the vendor will only move forward if we instruct the agent's recommended conveyancers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a local solicitor accustomed to conveyancing in Ravensthorpe
It is improbable the vendors are driving this. Should the vendor desire ‘a quick sale', turning down a genuine purchaser is counter productive. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you have nothing to sell (d) you intend to proceed fast (e)but you will continue to instruct your own,trusted Ravensthorpe conveyancing solicitors - rather thanthe ones that will provide the negotiator at the agency a referral fee or meet his conveyancing thresholds set by HQ.