I had intended to instruct a property lawyer in Wombourne for our house purchase. Our broker has since advised us that our mortgage company Bank of Ireland won't deal with them. Surely this is unduly restrictive?
A decade ago most mortgage companies had a different appetite for risk. Almost all Wombourne conveyancing firms would have been on many bank panels. The FSA in 2010 completed a thematic review into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more information from law firms regarding their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum volume of transactions. Many Wombourne conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Wombourne is one of the thousands of locations where the lawyers we list are on the panel for Bank of Ireland.
How can we tell if a Wombourne conveyancing solicitor on the Aldermore panel is any good?
When it comes to conveyancing in Wombourne obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the solicitor carrying out your conveyancing.
I'm spending time viewing apartments in Wombourne and I am now considering a potential offer. Should I already have a lawyer appointed at this stage? I am planning to take a mortgage with UBS.
You should start obtaining conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are seeking a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Wombourne lawyer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Santander mortgage from the register. Santander, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
It has been three months since my purchase conveyancing in Wombourne took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £215,000. 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 property 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.
I'm buying my first flat in Wombourne with a loan from Chelsea Building Society. The developers refused to move on the amount so I negotiated five thousand pounds worth of additionals instead. The sale representative suggested that I not reveal to my lawyer about this side-deal as it could jeopardize my loan with Chelsea Building Society. 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.
My uncle has encouraged me to appoint his conveyancers in Wombourne. Should I choose my own solicitor?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to have feedback from friends or relatives who have experience in using the firm that you are are thinking of instructing.