I am in the process of selling my ground floor flat in Buckingham and the EA has just text me to say that the buyers are appointing a new solicitor. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a big named mortgage company only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Buckingham ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders attribute this action to a rise in fraud as the reason for the reduction – criteria have been stiffened 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 claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
My son is purchasing a newly built flat in Buckingham with a home loan from Nottingham. His lawyer has said that there is a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
How do I discover of the solicitor handling my conveyancing in Buckingham is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus paying £192.00 in supplemental legal costs.
You should make use of the search tool on this web page. Pick the mortgage company and type ‘Buckingham’ or your location and you will see a number of lawyer located in Buckingham or nearest you.
My partner and I are downsizing from our property in Buckingham and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Buckingham lawyer would know that there is no such problem. For the life of me I don't know why the buyers are using an internet conveyancing firm as opposed to a conveyancing solicitor in Buckingham. Having lived in Buckingham for 5 years we know that this is a non issue. Should we contact our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing firm currently acting for you. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I used Stirling Law a few years past for my conveyancing in Buckingham. Now, I need my documents but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Buckingham of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
When it comes to my conveyancing in Buckingham should I be paying VAT on the following: (1) Land reg fee on purchase (2) Pre - completion search fee (3) SDLT E submission on purchase (4) Bank TT fee
(1) Land reg fee on purchase - No (2) Pre - completion search fees -No, (such conveyancing searches are HMLR ones and means £4 and possibly £2 bankruptcy per name on your mortgage) (3) SDLT E submission on your purchase - There is no VAT on Stamp Duty. However if the firm is charging a stamp duty e-submission fee as part of their services - some Buckingham conveyancers do - that will incur VAT(4) Bank transfer fee - Yes it is for the lawyer's time in submitting the funds this way.