Me and my partner are purchasing a 1 bedroom flat in Feltwell with a mortgage. We would like to retain our Feltwell conveyancer, however the mortgage company advise he's not on their "panel". It appears that we have little choice but to appoint one of the mortgage company panel solicitors or keep our Feltwell conveyancer and pay for one of their panel firms to represent them. We regard this is inequitable; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Feltwell conveyancing solicitor to apply to be on the conveyancing panel.
When will exchange of contracts occur in residential conveyancing in Feltwell and do I need to attend the conveyancers branch?
If you are near to our conveyancing solicitors in Feltwell you are welcome to attend to sign the paperwork. However, the law practices we recommend offer countrywide coverage for conveyancing and provide as equally detailed and professional a job for you when communicating with you electronically. The executing of the property agreement is not the point of no return. Signing on the dotted line is necessary for the solicitor to officially exchange when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Feltwell)to be in the office available at the end of the phone to exchange contracts.
I had intended to instruct a property lawyer in Feltwell for our house purchase. Our broker has since notified us that our mortgage lenders National Westminster Bank won't deal with them. Why is this not regarded as unduly restrictive?
A decade ago most banks had an appetite for risk which was higher than today. Almost all Feltwell conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms relating to their operations and their employees and establishing certain criteria such a completing on a minimum volume of conveyancing. Many Feltwell conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Feltwell is amongst the numerous locations where the conveyancers we recommend are on the panel for National Westminster Bank.
I used Action Conveyancing a few years past for my conveyancing in Feltwell. I now require my papers but the law firm has closed. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Feltwell of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Feltwell with a mortgage from Chelsea Building Society. The builders refused to move on the amount so I negotiated £7000 of extras instead. The house builders rep advised me not inform my solicitor about this side-deal as it would jeopardize my mortgage with Chelsea Building Society. Is this normal?.
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.
How difficult is it to change conveyancer as I have to retain one who is on the TSB conveyancing list. I instructed a family conveyancing solicitor in Feltwell round the corner but he is not accepted by TSB
It would be our pleasure to help you find a conveyancing solicitor in Feltwell on the TSB panel. Please note that the conveyancers that we list do not pay us commission if you instruct them and are under regulation of the Solicitors Regulation Authority who oversee all conveyancing solicitors in Feltwell. In utilising search facility on this website, you can compare costs for conveyancing solicitors in Feltwell and throughout England and Wales.