Unfortunately I am unable to travel far from Wendover. Can you please spell out why all Wendover property lawyers aren't included on all bank panels?
Lenders point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to mortgage companies removing a number of firms from their official list of approved conveyancers .
Is it the case that all Wendover CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing list of approved firms?
Some major lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
My fiancee and I are at the point of viewing houses in Wendover and I am now considering a potential offer. Is it too early to have a solicitor in place? I intend to finance via a mortgage with HSBC.
You should start obtaining conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their contact information on to the estate agent. As you are obtaining a mortgage with HSBC, make sure you remember to check that your lawyer is on the HSBC conveyancing panel.
I have finally had an offer on a flat in Wendover agreed to, but there is a chain. The vendors have offered on on an apartment, however it’s not yet tied up, and are looking at other properties booked. I have chosen a bricks and mortar conveyancing solicitor in Wendover. What should be my next step? When should I get the mortgage application with Santander going?
It is understandable to have anxieties where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then survey, Wendover conveyancing search costs, etc). The first thing to do is check that your solicitor is on the Santander approved list. Regarding the subsequent phase this very much dictated by the circumstances of your case, attraction to the property and on the state of the market. In a buoyant market many buyers will apply for a home loan with Santander and pay for the valuation and only if it comes back ok would they ask their conveyancer to press on with searches.
I've recently found out that there is a flying freehold element on a house I have offered on last month in what should have been a straight forward, no chain conveyancing. Wendover is the location of the property. Can you offer any advice?
Flying freeholds in Wendover are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Wendover you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Wendover may ascertain 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.
I have been pointed in your direction by a few property agents in Wendover to locate a conveyancer on your site. What’s the financial incentive for Estate Agents to market your lawyers over and above another?
We don’t offer any financial incentive for directing people in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
I need to find a conveyancing solicitor for residential conveyancing in Wendover. I happened to land on a site which appears to be the ideal answer If there is a chance to get all formalities completed via web that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?