Me and my fiance are hoping to purchase a 2 bedroom apartment in South Woodham Ferrers with a mortgage. We have a South Woodham Ferrers lawyer, however the bank advise he's not on their "panel". It appears that we have little choice but to appoint one of the mortgage company panel conveyancing practices or continue with our South Woodham Ferrers conveyancer as well as pay for one of their panel lawyers to act for them. This seems very unfair; can we not demand that the bank use our South Woodham Ferrers property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. Another option that might be available is for your South Woodham Ferrers conveyancing lawyer to apply to be on the conveyancing panel.
We are buying a flat in South Woodham Ferrers. It might be a silly question but how we can trust a solicitor? On the day of competition we have to deposit money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it the case that all South Woodham Ferrers solicitor firms on the Clydesdale conveyancing panel are overseen by the SRA?
As solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be governed by the SRA. The majority of lenders do allow licenced conveyancers on their panel in which case such firms would be overseen by the CLC.
I was told three weeks ago that my mortgage has been agreed to by Skipton. Is it usual for Skipton to only issue the offer once my solicitor in South Woodham Ferrers is approved on their conveyancing panel? Skipton have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Skipton to deal with your lawyer's application to be on the Skipton conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am purchasing my first flat in South Woodham Ferrers with a loan from Barnsley Building Society. The developers would not move on the price so I negotiated 6k of extras instead. The estate agent advised me not to tell my lawyer about the extras as it may jeopardize my mortgage with the bank. Should I keep quiet?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what should have been a quick, chain free conveyancing. South Woodham Ferrers is the location of the property. What do you suggest?
Flying freeholds in South Woodham Ferrers are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside South Woodham Ferrers you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Woodham Ferrers may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Given that I will soon part with 450k on a terraced house in South Woodham Ferrers I would like to talk to a solicitor regarding thetransaction before instructing the firm. Is this something that you can arrange?
Absolutely - it is our preference to talk to you we do not take any clients on without you liaising with the solicitor due to be carrying out your conveyancing in South Woodham Ferrers.There is no ‘factory style conveyancing’ - every client is an important person, not a case number. The solicitors that we put you in touch with believe that the fees you are provided with for residential conveyancing in South Woodham Ferrers should be the figure that you end up paying.