We are buying a 2 bedroom apartment in Kempston with a mortgage. We like our Kempston lawyer, but the lender says she’s not on their "panel". It seems we have no choice but to appoint one of the bank panel solicitors or keep our Kempston solicitor as well as pay for one of their panel firms to represent them. This feels very unfair; are we not able to require that the mortgage company use our Kempston conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Kempston conveyancing solicitor to apply to be on the conveyancing panel.
Would the conveyancing solicitors that you recommend conduct conveyancing in Kempston by way of an attended exchange?
We do have a number of conveyancing experts who can conduct 24hr exchanges. You should e-mail us to obtain a costs illustration and details as to dates.
I had intended to instruct a conveyancing solicitor in Kempston for our house move. Our financial adviser informed us that our mortgage lenders National Westminster Bank won't deal with them. Surely this is unfair competition?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Kempston conveyancing firms would have been on many mortgage company panels. The FSA in 2010 carried out 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 concerning their operations and their employees and establishing certain criteria such a completing on a minimum volume of conveyancing. Many Kempston 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. Kempston is amongst the hundreds of areas where the conveyancers we list are on the panel for National Westminster Bank.
We are purchasing a house in Kempston. I might seem paranoid but how we can trust a conveyancer? At some point we will need to send funds into their account. What is the protection we have from them run away with our money?
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.
My bid for a property was accepted at auction in Kempston. Conveyancing is necessary. What is next?
Having legally committed yourself to purchase you should choose a conveyancing lawyer as a matter of priority as you now have a fast approaching deadline in which to complete the deal. An auction property will have a bespoke legal pack. This should include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing papers may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation pertinent to a leasehold property. You need to give this to your appointed conveyancing solicitor ASAP. Do make sure that that you have the requisite funding in order to complete on the on the contractual date .
My aunt advised me that in buying a property in Kempston there could be a number of restrictions preventing external alterations to the property. Is this right?
There are a number of properties in Kempston which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Kempston should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm purchasing my first flat in Kempston with a mortgage from Santander. The developers would not reduce the amount so I negotiated 6k of fixtures and fittings instead. The estate agent advised me not to tell my solicitor about the extras as it may put at risk my loan with the lender. Should I keep quiet?.
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.
I opted to have a survey carried out on a property in Kempston prior to retaining solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor has said that some banks may not grant a mortgage on such a home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kempston. Conveyancing will be smoother if you use a solicitor in Kempston especially if they are familiar with such properties in Kempston.