I am obtaining a mortgage with Nat West. I would like to employ the services of a Licensed Conveyancer in South Ruislip. Does the Nat West Conveyancing panel include conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
The vendors of the home we are purchasing have appointed a conveyancing practitioner in South Ruislip who has recommended a exclusivity contract with a payment 6,000. Are such arrangements promoted for South Ruislip conveyancing transactions?
There are a couple of primary concerns with signing a lock out contract (sometimes termed a no-shop agreement) is that it can distract from moving forward with the conveyancing work, so unless it requires minimal or no negotiation then it could transpire to be a hindrance. It is not particularly popular amongst South Ruislip conveyancing solicitors as a result. The other main negative is the extent of the remedies available - an aggrieved buyer is not likely to win an injunction to prevent the seller disposing of the property to an alternative purchaser, so the only remedy available under the contract will be the reimbursement of abortive costs and, in limited circumstances, the additional payment of damages.
Please explain the implications if my lawyer’s firm is removed from the Virgin Money Solicitor panel ahead of completing my conveyancing in South Ruislip?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am purchasing a new build house in South Ruislip benefiting from help to buy. The builders refused to move on the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not to tell my lawyer about this extras as it will affect my loan with TSB. Is this normal?.
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.
I am a sole trader wishing to lease a unit on the high street. Can you recommend solicitors offering fixed charges for non-domestic conveyancing in South Ruislip for below £1,200?
We are happy to recommend firms who have well rounded knowledge of commercial conveyancing in South Ruislip, including the sale and acquisition of businesses as well as simply premises. Whether you are intending to buy or lease a shop, pub, restaurant, office, retail premises or a whole business we can find you the right firm. As for the fees these will vary based on the structure and complexity of the proposed transaction. Let us have your contact information or email so as to enable us to furnish you with a fixed commercial conveyancing calculation.