Am I correct in assuming that the fact that my solicitor in Darwen is not listed on my lender's conveyancing panel that there is a problem with the quality of the firm’s work?
That is most likely a wrong assumption to make. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Darwen conveyancing practice and enquire why they are no longer on the approved list for your lender.
We are a couple about to sign contracts for a ground floor flat in Darwen. We have hit a stumbling block. The loan offer with Norwich and Peterborough Building Society expires on 14/6/2021 but the owners are putting forward a completion date of 16/6/2021. Can one prolong the mortgage expiry date?
The person best placed to address this concern is your lawyer who will hopefully determine whether they better off negotiating with the bank, owner’s solicitors, estate agents or possibly all parties based on what has gone on in your house move to date.
My wife and I buying a terrace house in Darwen. Our aim is to carry out an extension to the side at the house.Will the conveyancing process involve checks to see if these alterations are prohibited?
Your conveyancer should check the deeds as conveyancing in Darwen will occasionally reveal restrictions in the title documents which prevent certain alterations or need the consent of another owner. Certain works require local authority planning permissions and approval in compliance with building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. It would be sensible to check these issues with a surveyor ahead of any purchase.
Are all Darwen Conveyancing Quality Solicitors on the Barclays conveyancing list of approved solicitors?
It is true that some banks and building societies now utilise CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Planning on purchasing a apartment in Darwen. 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 UBS 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 Darwen conveyancer is on the UBS conveyancing panel.
I am buying a new build house in Darwen with a loan from The Mortgage Works. The builders would not budge the price so I negotiated 6k of extras instead. The property agent advised me not inform my conveyancer about this deal as it would impact my mortgage with the lender. 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.
I am looking for a ground for flat up to £305k and identified one round the corner in Darwen I like with open areas and railway links nearby, however it's only got 52 years unexpired on the lease. I can't really find anything else in Darwen suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a home loan that many years may be a potential deal breaker. Discount the price by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this matter.
Should I be concerned by estate agents that I am dealing with are suggesting a nationwide conveyancing firm rather than a local Darwen conveyancing firm?
As with lots of service providers, often input from family and friends can be very helpful. But there are numerous players in a conveyancing transaction; estate agents, financial adviser and banks might all recommend lawyers to use. On occasion these lawyers might be known to one of the organisations as experts in their field, but occasionally there is an underlying commercial relationship behind the endorsement. You are free to select your own conveyancer. However, bear in mind that most banks specify a panel list of conveyancers you must use for the mortgage aspect of your house move.