My partner and I are purchasing a newly built duplex in Blackwood and my lawyer is informing me that she is duty bound to the lender to disclose incentives from the builder. The Estate Agents are hassling me to sign contracts and I don't want to prolong matters. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook provisions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I am purchasing a terraced house in Blackwood. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Blackwood you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Blackwood.
is it true that all Blackwood solicitor firms on the Nationwide conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be governed by the SRA. Many banks do allow licenced conveyancers on their panel and in that case the firms would be governed by the CLC.
My wife and I have arranged a further advance on our home loan from HSBC as we wish to carry out alterations to our property in Blackwood. Do we need to appoint a bricks and mortar Blackwood solicitor on the HSBC conveyancing panel to deal with the legals?
HSBC would not normally instruct a member of their conveyancing panel to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
I was told four weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Blackwood is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have justdiscovered that Stirling Law have closed. They conducted my conveyancing in Blackwood for a purchase of a leasehold apartment 9 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest method to see if the property is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Blackwood conveyancing specialists.
I am buying a new build house in Blackwood with a loan from Virgin Money. The developers would not move on the amount so I negotiated £7000 of additionals instead. The sale representative told me not to tell my lawyer about this side-deal as it may put at risk my loan with Virgin Money. Is this normal?.
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.
In my capacity as executor for the will of my aunt I am disposing of a house in Monmouth but live in Blackwood. My conveyancer (who is 235 miles from mehas requested that I sign a stat dec prior to the transaction finalising. Could you suggest a conveyancing solicitor in Blackwood who can witness this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Blackwood