I can't travel far from Hook. What is the rationale as to why all Hook property lawyers aren't included on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It led to lenders culling less reputable firms from their books of approved conveyancers .
Are the Hook conveyancing solicitors identified as being on the Barclays conveyancing panel, together with their details provided by Barclays?
Hook conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
It has been four months since my purchase conveyancing in Hook took place. I have checked the Land Registry website which shows that I paid £175,000 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 property 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.
I am purchasing a new build house in Hook with a mortgage from Nationwide Building Society. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not reveal to my lawyer about this side-deal as it could affect my loan with the lender. 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.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what should have been a simple, chain free conveyancing. Hook is where the house is located. What do you suggest?
Flying freeholds in Hook are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hook you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hook may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
We're new to the buying process - agreed a price, yet the property agent told us that the owners will only go ahead if we use their recommended conveyancers as they want a ‘quick sale’. We would rather use a local solicitor who is accustomed to conveyancing in Hook
It is improbable the vendors are behind this. Should the vendor want ‘a quick sale', alienating a serious purchaser is going to damage their objectives. Try to communicate with the sellers directly and make sure they comprehend that (a)you are motivated purchasers (b)you are excited to move forward, with finances in place © you are unencumbered (d) you intend to proceed fast (e)however you are going to appoint your preferred Hook conveyancing lawyers - not the ones that will provide their negotiator at the agency a referral fee or hit his conveyancing thresholds pre-set by HQ.