I am in the process of selling my home in Dunnington and the estate agent has just e-mailed to advise 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 property lawyers on their approved list. Why would a big named mortgage company only work with specific lawyers rather the firm that they want to choose to handle their conveyancing in Dunnington ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lenders justify this action to a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Dunnington? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you are required to sign will no doubt confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to hand over ID verification documents, your conveyancer would not be able to accept instructions from you.
My lender has suggested solicitors on their panel based in Dunnington but I would rather use a conveyancing lawyer in Dunnington or nearer to where I live. Are you able to help?
Not all Dunnington conveyancing solicitors are approved and listed on all lender’s conveyancing panel. Please make the most of our search tool to choose a Dunnington conveyancing solicitor on the on the mortgage company panel.
Forgive me if this question is silly but I am unseasoned as a 1st time purchaser of a garden flat in Dunnington. Do I receive the keys to the premises on the completion date from my solicitor? If this is the case, I will use a local conveyancing solicitor in Dunnington?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the completion advance to the seller's solicitors, and shortly after the monies have arrived, you will be invited to pick up the keys from the selling Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have decided to exercise my right to buy my property in Dunnington off the council. I have a mortgage offer with Nationwide. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
After months of negotiation I have agreed a price on an apartment in Dunnington. My financial adviser suggested a conveyancing practitioner. I paid an on account payment of £200. Soon after, the conveyancer contacted me sheepishly admitting that they were not on the Nottingham 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 Nottingham 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.
I'm purchasing my first flat in Dunnington with the aid of help to buy. The sellers would not reduce the amount so I negotiated £7000 of additionals instead. The house builders rep told me not inform my lawyer about this deal as it may put at risk my loan 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.
My mum and dad cant seem to find their Dunnington land registry title on the online search facility. They have a vague memory back in the 70’s when they acquired the property there were complications concerning the post code not being recognised in some systems.
Almost all premises in Dunnington should appear. Have you limited your search with just the postcode. Normally it will reveal all the houses and flats inside that postcode. Where recorded it will show up with a title number. Where they bought fifty years ago it's conceivable it may be unregistered. The property could still be revealed but with the title number shown 'na'. In this scenario you will need to track down the original title papers which might be with your parent’s lender.