I am selling my ground floor flat in East Dean and the estate agent has just text me to warn that the purchasers are changing their conveyancer. The reason given is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a big named lender only deal with specific lawyers rather the firm that they want to appoint to handle their conveyancing in East Dean ?
Lenders have always had panels of law firms that can act for them, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks attribute this action to a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
We are due to move home in June. Will my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you recommend a removal company in East Dean. Conveyancing solicitor was organised prior to coming across your website.
On the day of completion you can pick up the keys from your selling agent however this should only take place after the sellers conveyancers advise the agent that they have the completion monies and the keys can be collected. After that you can inform the removal company that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can help you choose a conveyancing in East Dean or a firm that specialises in conveyancing in East Dean.
Is it the case that all East Dean solicitors on the Virgin Money conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel in which case such organisation would be regulated by the CLC.
I had a mortgage agreed in principle with HSBC. East Dean conveyancing solicitors have been selected. How long does it take for HSBC to forward the offer to the solicitor?
Some lenders take longer than others. Have HSBC conducted the valuation? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
A colleague advised me that where I am buying in East Dean I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard East Dean conveyancing searches. It is not a small document of more than thirty pages, listing and detailing important information about East Dean around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with maps and statistics, Local Amenities and other useful information regarding East Dean.
I'm buying a new build house in East Dean benefiting from help to buy. The developers would not reduce the amount so I negotiated £7000 of additionals instead. The property agent suggested that I not reveal to my solicitor about the extras as it could put at risk my mortgage 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.
I decided to have a survey carried out on a house in East Dean in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders may not issue a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in East Dean. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in East Dean to see if the conveyancing costs will increase in light of this.
I need to find a conveyancing solicitor for residential conveyancing in East Dean. I have chance upon a web site which seems to have the perfect offering If it is possible to get all formalities completed via email 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?