My mortgage broker has requested my Andover solicitor’s panel member for the HSBC conveyancing panel. What is the best way to discover this. I have tried my local Andover branch but they cant find it on their system.
The sensible thing to do is ask for this information from your Andover solicitor . Most Andover law practices will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I had intended to instruct a property lawyer in Andover for our house move. Our broker has since advised us that our mortgage lenders The Royal Bank of Scotland won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most banks had a different appetite for risk. Almost all Andover conveyancing firms would have been on many lender panels. The Financial Services Authority in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms concerning their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum volume of conveyancing. Many Andover conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Andover is amongst the numerous locations where the lawyers showing on our search results are are approved The Royal Bank of Scotland.
Is it correct that all Andover CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing panel?
It is true that some banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I recently had an offer accepted on an apartment in Andover. My financial adviser pressured me to appoint their conveyancer. I paid an upfront payment of £225. Not long after, the property lawyer called me embarrassingly acknowledging that they were not on the Kent Reliance conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Kent Reliance panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I've digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Andover solicitor - who is on the HSBC conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
HSBC will need an independent valuation of the property. Your lawyer will not arrange this. Usually HSBC will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Andover postcode. As you are getting a mortgage with HSBC, you could contact them to see if they have a list of approved surveyors in Andover.
Over the last few months I have been searching for a leasehold apartment up to £245,000 and identified one near me in Andover I like with amenity areas and transport links nearby, the downside is that it only has 52 remaining years left on the lease. There is not much else in Andover suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you need a mortgage that many years will likely be a potential deal breaker. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for a minimum of 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer about this.
I was recommended by a few property agents in Andover to get a quote from a solicitor on your site. Is there a financial advantage for Estate Agents to promote your site ahead of another?
We don’t offer any financial incentive for directing people our way. We found it would be just too difficult a fee because members of the public would think, ‘How come the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I need to find a conveyancing solicitor for freehold conveyancing in Andover. I've chance upon a web site which looks to be the ideal offering If it is possible to get all formalities completed via phone that would be preferable. Do I need to 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?