Unfortunately I am unable to travel far from Skelmersdale. I would like to know the logic why all Skelmersdale solicitors are not on all lender panels?
Lenders normally restrict either the nature or volume of conveyancing solicitors on their panel. A common example of such criteria being that the practice is required to have at least two partners. In addition to restricting the nature of firm, some have made a decision to restrict the size of their panel they allow to act for them. You should note that lenders have no liability for the accuracy of advice supplied by any Skelmersdale conveyancing practitioner on their approved list. Increases in mortgage fraud was the main trigger for the rationalisation of solicitor panels in the last decade notwithstanding that there are opposing assessments about the extent of solicitor involvement in some of that fraud. Data via the Land Registry exposes that thousands of conveyancing firms only transact less than three conveyances annually. Those advocating conveyancing panel culls ask why conveyancing firms should have any entitlement to be on a lender panel when clearly conveyancing is not their primary expertise?
We were going to get a OIP from Coventry BS 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 Coventry BS recommend any Skelmersdale solicitors on the Coventry BS conveyancing panel, or is it better to go independently?
You will need to appoint Skelmersdale solicitors independently although you'll need to choose one on the Coventry BS conveyancing panel. The solicitor represents both you and Coventry BS through the process.
I was told four weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Skelmersdale is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
After shopping around on the internet I have found a Skelmersdale property 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. You may wish to consider appointing your own Skelmersdale surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Wolstenholmes a few years ago for my conveyancing in Skelmersdale. I now require my file however the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Skelmersdale of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Skelmersdale with the aid of help to buy. The developers refused to reduce the amount so I negotiated 6k of additionals instead. The estate agent suggested that I not to tell my solicitor about this side-deal as it would impact my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Do I need to be concerned that brokers that I am dealing with are encouraging me to use a web based conveyancing firm rather than a local Skelmersdale conveyancing practice?
As is the case with many service providers, often referrals from family and friends can be worth their weight in gold. Yet there are lots of parties with a keen interest in a conveyancing matter; estate agents, financial adviser and lenders might all suggest conveyancers to instruct. On occasion the solicitors might be known to one of the organisations as one of the best in their field, but occasionally there may be a financial incentive behind the recommendation. You have the discretion to choose your own lawyer. Don't forget that some mortgage providers specify a panel list of solicitors you are obliged to use for the lender related work in your transaction.