Much to our surprise we have been notified by our mortgage adviser that my Swadlincote the law firm I have appointed is not on the bank Conveyancing panel. What can I do to be certain if this is indeed the case?
You need to call your Swadlincote conveyancer. It is reasonable to expect your lawyer to inform you of the situation. Where they are not on the panel they may recommend you to a Swadlincote conveyancing practice that is on the approved list of lawyers for your bank.
Do the conveyancing solicitors that you recommend handle right to buy conveyancing in Swadlincote?
We have identified plenty of conveyancing experts carrying out right to buy conveyancing Do call the conveyancers listed to secure a conveyancing quote.
We had instructed solicitors located in Swadlincote on the Nottingham solicitor panel. They have just billed me an additional amount for dealing with the Nottingham mortgage. Is this an additional conveyancing fee specified by Nottingham?
Provided it is contained in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. The fee is not dictated by Nottingham but by your Swadlincote lawyer. Some firms on the Nottingham panel will levy an ‘acting for lender’ fee but many practices include it on their overall fee.
I was told two weeks ago that my mortgage has been agreed to by Coventry BS. Is it usual for Coventry BS to only issue the offer once my solicitor in Swadlincote is approved on their conveyancing panel? Coventry BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Coventry BS to deal with your lawyer's application to be on the Coventry BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Virgin Money have agreed my home loan in principle, my offer on a property in Swadlincote has been agreed to, what are the next steps?
The property agent will want to know who your solicitors are (ensure that the conveyancers are on the lender’s panel). Call up Virgin Money or your financial adviser and finalise any relevant documentation. Virgin Money will sellect a valuer who will get in touch with the selling agent or owners to book a slot for the valuation to happen. Once conducted (assuming no problems) it takes approximately ten days to get a mortgage offer. Virgin Money will issue the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Swadlincote.
I am buying a new build house in Swadlincote with a mortgage from HSBC Bank. The developers would not move on the amount so I negotiated 6k of extras instead. The house builders rep suggested that I not reveal to my lawyer about this side-deal as it may impact my mortgage with the lender. 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.
Myself and my partner have recently had an offer agreed on a flat and had meeting on Friday with Nationwide for the mortgage. They have informed me that when it comes to choosing a solicitor that unless they are on their approved list of lawyers then we will have to pay out a further fee of £200. This is is due to the fact that they will then have to select a solicitor to act for them in addition to the one we appoint for ourselves and we are liable for their fees. I have requested Nationwide to provide me with a list so I can request estimates only from their approved lawyers but was told they dont have such a list to hand over. What would be the best way of going about this?
You can enquire of Nationwide what their criteria for joining their panel is for a solicitor.Thereafter ask the property lawyer of your choice whether they meet the criteria and have they acted on loans for Nationwide previously. Where the answer to those is yes, then just double check with Nationwide. Another option is to utilise our search facility and we should be able to identify a lawyer in Swadlincote on the approved list for Nationwide.