Is the fact that my conveyancer in Snaresbrook is not on my mortgage company's conveyancing panel that there is a problem with the standard of his conveyancing?
That would most likely be a wrong assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should contact the Snaresbrook conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
My Conveyancer in Snaresbrook has never been on on the Nationwide Building Society Conveyancing Panel. Is it possible for me to continue with my prefered solicitor notwithstanding that they are excluded from the Nationwide Building Society panel of approved conveyancing solicitors?
Your options are as follows:
- Carry on with your existing Snaresbrook solicitors but Nationwide Building Society will need to retain a conveyancer on their list of acceptable firms. This will result in additional total conveyancing charges as well as result in delays.
- Get an alternative lawyer to to deal with the conveyancing, remembering to check they are Nationwide Building Society approved.
- Persuade your Nationwide Building Society solicitor to seek to join the Nationwide Building Society panel
I have been told that property searches are the main reason for hinderance in Snaresbrook house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature amongst the common causes of delays during the legal transfer of property. Local searches are not likely to feature in any holding up conveyancing in Snaresbrook.
I am purchasing a new build house in Snaresbrook with a loan from Bank of Scotland. The builders would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not inform my conveyancer about the side-deal as it may adversely affect my mortgage with Bank of Scotland. 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.
Is it the case that all Snaresbrook property lawyers on every bank conveyancing panel?
You can use our search tool or you can drop into your high street lender branch in Snaresbrook. Chances are that they can recommend conveyancing solicitors in Snaresbrook