I am nearing exchange of contracts for my flat in Berkhamsted and the estate agent has just e-mailed to say that the buyers are changing their property lawyer. The excuse is that the lender will only work with property lawyers on their approved list. Why would a leading lender only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Berkhamsted ?
Banks have always had panels of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. No lender will say 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 are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
I am planning to acquire a property and require a conveyancing solicitor in Berkhamsted who is on the Clydesdale approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Clydesdale in certain locations such as Berkhamsted. We dont recommend any particular firm.
I require fast conveyancing in Berkhamsted as I am faced with an ultimatum to complete inside one month. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are not obtaining a mortgage you have the choice not to have searches carried out although no lawyer would recommend that you don't. Drawing on years of experience of conveyancing in Berkhamsted the following are examples of what can crop up and adversely affect the marketability of the property: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
Are there restrictive covenants that are commonly picked up as part of conveyancing in Berkhamsted?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Berkhamsted. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I'm purchasing a new build house in Berkhamsted with a loan from Barclays Direct. The builders would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent told me not to tell my conveyancer about the side-deal as it may adversely affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Me and my wife are expecting to complete buying a house in Berkhamsted but as a result of wreckage from the recent storms I have negotiated recompense from the current proprietors of five thousand pounds in the form of a reduction in the price. This was going to be addressed as part of the conveyancing process however the mortgage company will not agree to this. Why were they involved?
Your solicitor that is on the bank conveyancing panel is required to inform the bank of any changes to the purchase figure. If you did not allow your property lawyer to report the price change to your mortgage company then they would have to refrain from acting for you and the lender.