I am not well enough to travel far from Harrold. What is the rationale as to why all Harrold conveyancing practitioners aren't included on all bank panels?
A decade ago most mortgage companies displayed an attitude to risk which is different than today. The financial regulator in 2010 conducted a thematic review into fraud which concluded: know the solicitors on your panel. As a result, banks have subsequently requiredmore information from law firms regarding their operations and the individuals employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to satisfy the criteria of amount of transactions the mortgage companies set.
We had appointed conveyancing lawyers based in Harrold on the TSB solicitor approved list. They have just billed me a supplemental amount for the legal aspects of the TSB mortgage. Is this an additional conveyancing fee specified by TSB?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your solicitor can levy a fee for this. The fee is not dictated by TSB but by your Harrold solicitor. Some firms on the TSB panel will levy ’dealing with mortgage’ fee and others do not.
We expect to receive a DIP from Principality this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Harrold solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Harrold solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I am currently in the process of buying my council flat in Harrold. I have a mortgage offer with Co-operative. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use 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 Co-operative, you will need to appoint a solicitor on the Co-operative conveyancing panel.
Will my conveyancer be asking questions concerning flooding during the conveyancing in Harrold.
The risk of flooding is if increasing concern for lawyers dealing with homes in Harrold. There are those who acquire a property in Harrold, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to offer advice on flood risk, but there are a numerous searches that may be carried out by the purchaser or by their solicitors which will figure out the risks in Harrold. The standard completed inquiry forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) incorporates a standard question of the owner to discover whether the premises has historically flooded. In the event that flooding has previously occurred and is not disclosed by the seller, then a buyer could issue a claim for damages stemming from an misleading reply. A buyer’s conveyancers will also order an enviro search. This should disclose whether there is any known flood risk. If so, additional investigations will need to be initiated.
four months have gone by since my purchase conveyancing in Harrold concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
My uncle has suggested that I appoint his conveyancers in Harrold. Should I find my own conveyancer?
No doubt the ideal way to select a conveyancing lawyer is to have feedback from friends or relatives who have used the conveyancer that you are contemplating using.
We are planning to purchase a three bedroom flatin Harrold with a loan from a bank. We wish to instruct our conveyancer in Harrold yet our lender advise she’s not on their "panel". We have to appoint from the our mortgage company panel firms or keep our Harrold solicitor and incur the extra costs for one of their panel ones to represent our lender. This seems very unfair; is there anything we can do?
Unfortunately,no. The lender home loan offered to you is subject to its terms and conditions, one of which will be that solicitors will on the lender's conveyancing panel. Until recently, most mortgage companies had open panels, including many conveyancing solicitors in Harrold : 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for your bank.