My husband and I are hoping to purchase a property in Arthog and are in fact using a Arthog conveyancing practice. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. The Royal Bank of Scotland have this afternoon contacted us to advise us that there is now an issue as our Arthog conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Arthog lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
I am purchasing a brand new flat in Arthog and my lawyer is advising me that she is duty bound to the mortgage company to disclose incentives from the builder. The Estate Agents are hassling me to exchange and I have no desire to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancing practitioner. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
How do I discover of the solicitor handling my conveyancing in Arthog is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Scotland thus spending £175.00 in another set of legal invoice.
You should make the most of the search tool on this page. Please choose the mortgage company and type ‘Arthog’ or your location and you will discover numerous conveyancers located in Arthog or near you.
If you had a top tip for selecting a conveyancing solicitor in Arthog what would it be?
It would be unwise to be tempted by the cheapest Arthog conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I happen to be the single recipient of my late mum's estate and I have everything in my name alone, including the my former home in Arthog. Conveyancing formalities meant that the Land Registry date was in August. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership could be considered the same way as though I had purchased the property in August. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. many banks would take a pragmatic view as this provision principally exists to capture subsales or the quick reselling of properties.
Planning on purchasing a house in Arthog. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Arthog property lawyer is on the Kent Reliance conveyancing panel.
We're novice buyers - agreed a price, yet the agent has warned us that the seller will only move forward if we use their chosen lawyers as they are insisting on a ‘quick sale’. We would rather use a family solicitor who is familiar with conveyancing in Arthog
We suspect that the owner is unaware of this request. Should the owner want ‘a quick sale', turning down a genuine buyer is is going to put the whole deal at risk. Speak to the vendors direct and make sure they understand (a)you are genuine buyers (b)you are ready to go, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to use your preferred Arthog conveyancing lawyers - rather thanthe ones that will provide the estate agent a introducer fee or achieve conveyancing thresholds pre-set by head office.
We are about to purchasing a property in Arthog. Conveyancing is not yet done but we wish to keep our purchase price a secret from the likes of Rightmove. Is this achievable and how?
The Land Registry as a matter of law bound to disclose price paid data on the official title for domestic properties countrywide including properties in Arthog. The Title Register is an open document, so the Land Registry would be breaking the law if they failed to allow access to the register.
In essence you can make a request of HM Land Registry to hide the amount paid data yet the answer will be in the negative.