Me and my fiance are hoping to acquire a 2 bedroom apartment in South West London with a mortgage. We like our South West London conveyancer, however the mortgage company says she’s not on their "panel". It appears that we have no choice but to select one of the lender panel conveyancing practices or continue with our South West London solicitor and pay for one of their panel ones to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your South West London conveyancing lawyer to apply to be on the conveyancing panel.
What is your number one tip for finding a conveyancing solicitor in South West London
It would be unwise to be swayed by the cheapest South West London conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I'm in the process of viewing flats in South West London and I am about to put in an offer. Is it too early to have a solicitor in place? I will be getting a home loan with UBS.
It would be sensible to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the estate agent. Given that you are seeking a mortgage with UBS, make sure you remember to check that your lawyer is on the UBS conveyancing panel.
My sealed bid on a property in South West London has been accepted, but there is a chain. The sellers have offered on somewhere, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have selected a nearby conveyancing solicitor in South West London. What should be my next step? When do I get the mortgage application with Yorkshire BS going?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then valuation, South West London conveyancing search charges, etc). The first thing to do is ensure that your conveyancer is on the Yorkshire BS approved list. Regarding the subsequent steps this very much dictated by the uniqueness of your transaction, motivation for the property and on the state of the market. During a buoyant market some home buyers would apply for the mortgage with Yorkshire BS and pay for the valuation and only if it was satisfactory would they pay their conveyancer to proceed with the conveyancing in South West London.
I require fast conveyancing in South West London as I am under pressure to exchange contracts within one month. A mortgage is not required. Is it possible to decline from having conveyancing searches to save fees and time?
As you are not taking a home loan you have the choice not to have searches conducted although no law firm would recommend that you don't. Drawing on our experience of conveyancing in South West London the following are instances of issues that can arise and therefore impact market value: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
I am buying a new build house in South West London with a loan from Yorkshire Building Society. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep advised me not reveal to my conveyancer about this side-deal as it may affect my loan with the bank. Should I keep quiet?.
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.
How do I use your search app to select a conveyancing practitioner in South West London on the approved list for my lender?
First pick a bank such as Barclays , Norwich and Peterborough Building Society or Godiva Mortgages Ltd then specify your location for instance South West London. Conveyancing practices in South West London and further afield will then be shown.