Am I correct in assuming that the fact that my solicitor in Forestdale is not identified on my lender's conveyancing panel that there is a problem with the quality of her work?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack 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 Forestdale conveyancing firm and ask them why they are no longer on the approved list for your lender.
My wife and I are refinancing our maisonette in Forestdale with Santander. We have a son approaching twenty who lives with us. Our solicitor requested us to identify any adults other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two questions (1) Is this document specific to the Santander conveyancing panel as he never had to sign this form when we purchased 5 years ago (2) Does our son by signing this giving up his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Santander. This is solely used to protect Santander if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Santander had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
As someone unfamiliar with the Forestdale conveyancing process what is the number one tip you can give me concerning the legal transfer of property in Forestdale
You may not hear this from too many lawyers but conveyancing in Forestdale and elsewhere in South London is an adversarial experience. Put another way, when it comes to conveyancing there exists plenty of room for friction between you and other parties involved in the legal transfer of property. For example, the vendor, estate agent and even potentially a mortgage company. Choosing a solicitor for your conveyancing in Forestdale should not be taken lightly as your conveyancer is your adviser, and is the ONE person in the transaction whose responsibility is to look after your legal interests and to keep you safe.
On occasion a third party with a vested interest may try and persuade you that you should follow their advice. For example, the property agent may claim to be assisting by suggesting your solicitor is slow. Or your financial adviser may tell you to do take action that is against your conveyancers guidance. You should always trust your lawyer above all other parties in the conveyancing process.
Is it necessary during the course of the conveyancing process to attend the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Forestdale so that I can pop in to their offices if required.
As opposed to 12 years ago, most banks no longer require their conveyancing panel lawyer to witness the borrowers signature. It will still be necessary for you to supply ID documents and there are still manifest advantages to choosing a local solicitor, in your case a conveyancing solicitor in Forestdale.
A friend pointed out to me me that in purchasing a property in Forestdale there could be a number of restrictions preventing external changes to the property. Is this right?
We are aware of a number of properties in Forestdale which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Forestdale should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Forestdale CQS (Conveyancing Quality Scheme) solicitors are on the Skipton conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
Can you point me to a directory of Yorkshire BS panel conveyancers in Forestdale on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lending institutions make their panel listings visible online. If you are looking for a Forestdale solicitor on the Yorkshire BS please use our tool.
I am buying a new build house in Forestdale with a loan from Coventry Building Society. The builders would not budge the price so I negotiated five thousand pounds worth of additionals instead. The property agent suggested that I not reveal to my conveyancer about this deal as it could jeopardize 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.