My fiance and I are hoping to purchase a house in Willingham and have instructed a Willingham conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Yorkshire Building Society have this morning contacted us to inform me that there is now an issue as our Willingham conveyancer is not on their approved list of lawyers. What do we do from here?
Where you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Willingham lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Our grandson is about to exchange on a new build apartment in Willingham with a mortgage from Virgin Money. His conveyancer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
It has been four months since my purchase conveyancing in Willingham took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the asset from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
How do I use the search app to choose a conveyancing solicitor in Willingham on the panel for my bank?
1st choose a lender such as Halifax, Coventry Building Society or Britannia then specify your location such as Willingham. Conveyancing practices in Willingham and beyond will then be listed.
I need to find a mortgage company panel solicitor in Willingham. Can you assist?
It is not clear why you need a Willingham panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the lender to find out which solicitors in Willingham are on their panel . If you do find such a firm in Willingham not listed please direct them to our site to list. After all the cost is only one £1 a month