My husband and I are purchasing a newly constructed apartment in Buckingham and my lawyer is informing me that she is duty bound to the lender to reveal incentives from the seller. The Estate Agents are hassling me to exchange and I don't want to prolong the conveyancing. 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 bank 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.
I have just over seventy years left on my lease and need a lease extension for my flat in Buckingham. Conveyancing solicitors on the Accord Mortgages panel can deal with such extensions right?
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are securing a mortgage then your lender may insist that the lease be extended before competition. Accord Mortgages have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 23/7/2024 the requirements read as follows :
is it true that all Buckingham solicitor firms on the Virgin Money conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Virgin Money conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
My partner and I have arranged the release of further funds on our mortgage from Nottingham as we want to carry out alterations to our house in Buckingham. Are we obliged to choose a high street Buckingham solicitor on the Nottingham conveyancing panel to handle the legals?
Nottingham would not normally appoint a member of their approved list of lawyers 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 Nottingham conveyancing panel.
Intending to buy a maisonette in Buckingham. 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 Barclays 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 Buckingham conveyancing practitioner is on the Barclays conveyancing panel.
I am purchasing my first flat in Buckingham with a mortgage from Godiva Mortgages Ltd. The builders refused to reduce the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not reveal to my lawyer about this extras as it could adversely affect my loan with the lender. Do I keep my lawyer in the dark?.
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.
Is it possible to transfer to a new solicitor as I need to choose one who is on the Platform Home Loans Ltd conveyancing list. I hired a family conveyancing solicitor in Buckingham round the corner but he is not accepted by Platform Home Loans Ltd
It would be our pleasure to assist you select a conveyancing solicitor in Buckingham on the Platform Home Loans Ltd panel. Please note that the property lawyers that we list do not pay us a referral fee if you instruct them and are authorised and regulated by the Solicitors Regulation Authority who regulate all conveyancing solicitors in Buckingham. In making use of the find a conveyancing solicitor tool on this website, you can scrutinise costs for conveyancing solicitors in Buckingham and beyond.
We're novice buyers - agreed a price, yet the agent advised that the seller will only move forward if we appoint their recommended solicitors as they want a ‘quick sale’. We would rather use a high street solicitor used to conveyancing in Buckingham
It is highly unlikely the sellers are driving this. Should the seller want ‘a quick sale', turning down a serious purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you will continue to use your preferred Buckingham conveyancing lawyers - not the ones that will provide the estate agent a commission or hit his conveyancing targets demanded by senior management.