My Cardiff solicitor has identified a discrepancy when comparing the assumptions in the valuation survey and what is revealed within the conveyancing documents. My solicitor says that he must check that the lender is happy with this discrepancy and is content to go ahead. Is my lawyer’s stance right?
Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Do all mortgage companies provide you with an approved list of Cardiff conveyancing solicitors? How do you know who is on the Coventry BS conveyancing panel?
Cardiff conveyancing firms themselves provide us confirmation that they are on the Coventry BS conveyancing panel as opposed to being supplied with a list from Coventry BS directly.
Do the Building Society Association intend to launch a search tool with a view to list law firms on the Norwich and Peterborough Building Society conveyancing panel for instance in Cardiff?
We have not been informed any intention on the part of the BSA to develop such a tool.
We expect to receive a OIP from Principality this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Cardiff solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Cardiff solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I recently had an offer accepted on a house in Cardiff. My financial adviser suggested a conveyancer. I paid an advanced payment of £200. A couple of days later, the conveyancing practitioner called me embarrassingly acknowledging that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
After what feels like an age I have had an offer on a maisonette in Cardiff accepted, the vendors do however have a connected purchase. The sellers have offered on on an apartment, but it’s not yet agreed to, and have viewings of other flats booked. I have selected a high street conveyancing solicitor in Cardiff. What should be my next step? When do I get the mortgage application with Coventry BS started?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then valuation, Cardiff conveyancing search fees, etc). The first course of action is to ensure that your conveyancer is on the Coventry BS conveyancing panel. Concerning the next steps this very much dictated by the specifics of your transaction, desire for this property and on the state of the market. During a hot market some buyers will apply for a home loan with Coventry BS and arrange for the valuation and only if it was satisfactory would they pay their lawyer to proceed with the conveyancing in Cardiff.
I am buying my first flat in Cardiff with a loan from Norwich and Peterborough Building Society. The sellers would not move on the amount so I negotiated 6k of extras instead. The house builders rep advised me not disclose to my lawyer about this deal as it will adversely affect my mortgage with Norwich and Peterborough Building Society. 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.
Is it possible to swap firm as I need to retain one who is on the Coventry Building Society conveyancing list. I was using a local conveyancing solicitor in Cardiff round the corner but the firm is not approved by Coventry Building Society
We will our best to assist in finding you a conveyancing solicitor in Cardiff on the Coventry Building Society panel. Please note that the solicitors that we work with do not pay us commission if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Cardiff. In utilising search facility on this site, you can compare fees for conveyancing solicitors in Cardiff and beyond.