Unfortunately I am unable to travel far from Bovey Tracey. Is there a reason why all Bovey Tracey conveyancing practitioners aren't automatically on all mortgage company panels?
Before the recession most mortgage companies demonstrated an attitude to risk which differs from the current day. The FSA in 2010 carried out a thematic review into property fraud which concluded: know the conveyancers on your panel. As a result, banks have subsequently requiredmore data from law firms concerning their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to meet the minimum volume of transactions the lenders set.
I am purchasing a flat and need a conveyancing solicitor in Bovey Tracey who is on the The Mortgage Works solicitor. Could you point me in the right direction as regards a solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for The Mortgage Works in certain locations such as Bovey Tracey. We dont recommend any particular firm.
Are all Bovey Tracey Conveyancing Quality Solicitors on the TSB conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Bovey Tracey conveyancing practitioners were selected. How long does it take for Yorkshire BS to forward the offer to the conveyancing practitioner?
Some lenders take longer than others. Have Yorkshire BS conducted the valuation? Have you informed Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am expecting a AIP from Nationwide this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nationwide recommend any Bovey Tracey solicitors on the Nationwide conveyancing panel, or is it better to go independently?
You will need to appoint Bovey Tracey solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
My wife and I have a 4 bedroom Victorian house in Bovey Tracey. Conveyancing solicitor represented me and Bank of Ireland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the matching address. If a house is not a freehold shouldn't I have been informed?
You should assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Bovey Tracey and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the situation with your conveyancing practitioner who conducted the purchase.
I am buying my first flat in Bovey Tracey with a loan from The Royal Bank of Scotland. The sellers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent told me not inform my solicitor about the deal as it will affect my mortgage with the lender. 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.
Am I best advised to instruct a Bovey Tracey conveyancing practitioner based in the vicinity that I am purchasing? We have a good friend who can perform the conveyancing however they are based 200kilometers drive away.
The benefit of a local Bovey Tracey conveyancing practice is that you can attend the office to execute documents, present your ID and pester them where appropriate. Having local Bovey Tracey know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and the majority were content that must trump using an unknown Bovey Tracey conveyancing lawyer solely due to them being Bovey Tracey based.