I am expecting a mortgage with Nat West. I intend to employ the services of a Licensed Conveyancer in Silsoe. Does the Nat West Solicitor panel include conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Is it realistic for conveyancing in Silsoe to be completed inside 28 days?
First, If the seller is applying a tight deadline to sign contracts it is advisable to make sure that your lawyer is familiar with the area as they will have local connections and knowledge. It is possible that they may have transacted previoushouses in the same road. Therefore consider using a Silsoe conveyancing firm. In addition, ensure that the conveyancing firm is on the on the approved list for your mortgage company. It is claimed that 18% of Silsoe conveyancing transactions are delayed or derailed after finding out that a purchaser’s conveyancer was not on their banks member panel. In many cases this discovery resulted in the legal transfer of property being held up by an average of three weeks. It is estimated that this issue affects approximately 100,000 home sales annually. Many Silsoe conveyancing firms can not act for certain banks so do check at the outset.
We note that you have a search directory listing firms on the Santander conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in Silsoe?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Silsoe.
This question may be naive but I am unexperienced as FTB of a garden flat in Silsoe. Do I pick up the keys to the house on completion from my solicitor? If this is the case, I will instruct a local conveyancing solicitor in Silsoe?
On the day of completion you do not need to attend the conveyancers office in Silsoe. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s solicitors, and once they have received this, you should be called to collect the keys from the property Agents and move into your new home. This tends to happen between 1 and 3pm.
I am expecting a AIP from Virgin Money this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Silsoe solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Silsoe solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I have decided to exercise my right to buy my property in Silsoe off the council. I have a mortgage offer with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
I'm purchasing a new build house in Silsoe with a mortgage from Alliance & Leicester . The builders refused to reduce the amount so I negotiated 6k of extras instead. The estate agent advised me not to tell my lawyer about the extras as it may affect my mortgage with Alliance & Leicester . 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.