Is the fact that my solicitor in Eden Park is not listed on my bank's solicitor panel that there is a problem with the standard of her conveyancing?
That is more than likely a wrong assumption to make. There are plenty of reasonable explanations. Just recently a 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 lawyer 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 contact the Eden Park conveyancing firm and enquire why they are no longer on the approved list for your bank.
Can you help? My Eden Park conveyancer is assuring me that she is duty bound toconduct Eden Park conveyancing searches asthe firm are on the Santanderconveyancing panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your property lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Eden Park conveyancing searches.
Can your site be used to find a Conveyancing solicitor in Eden Park even if I’m not purchasing or selling a house, for example where I want to buy an office in Eden Park with a loan from Alliance & Leicester ?
Our search tool is predominantly there to get a quote from residential conveyancing solicitors in Eden Park but we have set out at the bottom of this page some Eden Park commercial conveyancing firms. You will need to make contact with the firm directly to see if they can also act for Alliance & Leicester
We are buying a property in Eden Park. It might be a silly question but how we can trust a lawyer? At some point we will need to deposit money into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I currently have a mortgage with HSBC for my property in Eden Park. Conveyancing has been completed a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform HSBC?
HSBC must be informed of your intention in advance of letting out your property as this is likely to be a breach of HSBC’s mortgage conditions. It may be that HSBC will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel solicitor.
It is not clear whether my lender requires a lease extension. I have called my Eden Park bank branch on a couple of occasions and was advised it wasn't an issue and they would lend. My Eden Park conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they will not lend based on their specific requirements. Who do I believe?
Provided that the property lawyer is on the bank panel, she or he must adhere to the CML Handbook conditions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am buying my first flat in Eden Park with a loan from Santander. The developers refused to budge the price so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not disclose to my lawyer about the extras as it will jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
We're new to the buying process - had an offer accepted, but the property agent informed us that the vendor will only proceed if we appoint the agent's chosen conveyancers as they need a ‘quick sale’. Our preferred option is to instruct a family solicitor with experience of conveyancing in Eden Park
We suspect that the seller is not behind this request. If they desire ‘a quick sale', turning down a motivated buyer is not the way to achieve this. Avoid the agents and go straight to the sellers and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you have nothing to sell (d) you wish to move quickly (e)but you are going to use your preferred Eden Park conveyancing solicitors - as opposed tothe ones that will give their negotiator at the agency a commission or meet his conveyancing targets pre-set by head office.