Am I correct in assuming that the fact that my conveyancer in Kenton is not identified on my bank's conveyancing panel that there is a problem with the standard of his work?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Kenton conveyancing practice and ask them why they are no longer on the approved list for your bank.
Is it correct that all Kenton CQS (Conveyancing Quality Scheme) solicitors are on the Principality conveyancing list of approved solicitors?
A selection of lenders now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their panels.
is it true that all Kenton conveyancing solicitors on the Aldermore conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be overseen by the SRA. Some banks do list licenced conveyancers on their panel and in that case the practice would be governed by the CLC.
The mortgage over my property is with Leeds Building Society for my property in Kenton. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Leeds Building Society?
You must advise Leeds Building Society before renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. It may be that Leeds Building Society will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel firm.
It has been 2 months following my purchase conveyancing in Kenton took place. I have checked the Land Registry site 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 premises 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 Kenton benefiting from help to buy. The sellers would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not to tell my conveyancer about the extras as it would adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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'm converting the mortgage on my existing house to a buy to let mortgage with Accord Mortgages Ltd and I will use the ballance of the raised equity as a deposit on a second property. The neighborhood we are looking at is Kenton. Will your conveyancers be able to act for both sets of mortgage companies and link together the two deals?
Do use our search tool on this site to check that the solicitors are approved by both mortgage companies. On the basis that they are your conveyancer should be able to simultaneously deal with the two transactions but you should talk with you solicitor and make clear your expectations and requirements.
I need to appoint a conveyancing solicitor for remortgage conveyancing in Kenton. I have chance upon a site which appears to be the perfect answer If there is a chance to get all this stuff done via email that would be ideal. Should I be wary? What are the potential pitfalls?
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?