I am in the process of selling my maisonette in East Barming and the EA has just text me to warn that the buyers are switching solicitor. I am told that this is due to the fact that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major mortgage company only work with certain lawyers rather the firm that they want to appoint to handle their conveyancing in East Barming ?
Mortgage companies have always had an approved set of law firms that can act for them, 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.
Lending institutions attribute this action to a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal 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. Your buyers are unlikely to have any sway in the decision.
Finally the sale completed on my house in East Barming last January but my buyer keeps whats apping every few hours to moan that his conveyancer is waiting to hear from mine. What are the post completion sale formalities now that I have sold?
Post completion of your sale your solicitor should forward the transfer documentation and all additional paperwork to the purchaser's lawyers. Where relevant, your solicitor should also confirm that the mortgage has been paid off to the buyers lawyers. There is unlikely to be post completion formalities peculiar conveyancing in East Barming.
My lawyer in East Barming is not on the TSB Conveyancing Panel. Can I still continue with my family solicitor notwithstanding that they are excluded from the TSB list of approved lawyers?
Your options are as follows:
- Complete the purchase with your existing East Barming lawyers but TSB will need to use a conveyancer on their panel. This will result in additional overall legal fees and result in delays.
- Get an alternative practitioner to act in the purchase, remembering to check they are Persuade your solicitor to use their best endeavours to join the TSB conveyancing panel
I am buying my first flat in East Barming with the aid of help to buy. The developers refused to budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The house builders rep told me not to tell my lawyer about the extras as it will affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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 need to find a conveyancing solicitor for remortgage conveyancing in East Barming. I've stumble upon a web site which seems to have the ideal offering If there is a chance to get all this stuff done via phone that would be ideal. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I require the services of a bank panel solicitor in East Barming. Can you assist?
It is not clear why you need a East Barming panel solicitor but in any event, if you can not find one on our search tool you will need to speak directly to the mortgage company to find out which solicitors in East Barming are on their panel . If you do find such a firm in East Barming not listed please direct them to our site to list. After all the cost is only one £1 a month