Much to our surprise we have been told by our lender that my Penyffordd solicitor is not on the bank Solicitor panel. How can I be sure if this is correct?
The best course of action for you to take is to call your Penyffordd lawyer directly. You lawyer should advise you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
My Penyffordd lawyer has uncovered a difference when comparing the surveyor’s assumptions in the valuation report and what is in the title deeds. My solicitor says that he is obliged to ensure that the bank is happy with this discrepancy and is still content to lend. Is my lawyer’s approach legitimate?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We are purchasing a flat in Penyffordd. It might be a silly question but how we can trust a lawyer? On the day of competition we have to deposit our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We had chosen conveyancers with offices in Penyffordd on the Santander solicitor panel. They are now charging me a further fee for dealing with the Santander mortgage. Is this an additional conveyancing fee specified by Santander?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer is entitled to charge a fee for this. This charge is not dictated by Santander but by your Penyffordd solicitor. Some firms on the Santander panel will levy an ‘acting for lender’ fee but plenty of practices incorporate it on their overall fee.
I am due to exchange contracts on my house. I had a double glazing fitted in November 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Kent Reliance are being problematic. The Penyffordd solicitor who is on the Kent Reliance conveyancing panel is recommending indemnity insurance as a solution but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I used Wolstenholmes a few years ago for my conveyancing in Penyffordd. Now, I need the files however cannot find the solicitor. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Penyffordd of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I'm purchasing a new build house in Penyffordd benefiting from help to buy. The developers refused to move on the price so I negotiated five thousand pounds worth of extras instead. The sale representative suggested that I not reveal to my solicitor about the deal as it will adversely affect my loan with Coventry Building Society. 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.
My partner is purchasing a basement flat in Penyffordd. He has received an estimate by the lawyer suggested by the estate agents and it came to £1275 . It was fifteen years ago since I sold and bought a home and the fee was £500. Have costs really escalated to that extent?
You should call 3 or 4 local Penyffordd conveyancing solicitors requesting estimates. It is advisable to base your choice not just on cost, but on promptness and on how comprehensive the response was.