I am selling my house in Leominster and the EA has just e-mailed to say that the buyers are appointing a new property lawyer. The reason given is that the bank will only deal with solicitors on their approved list. On what basis would a big named lender only work with specific lawyers rather the firm that they want to select for their conveyancing in Leominster ?
Mortgage companies have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
After reviewing consumer advice sites for a cheap solicitor in Leominster, most comment that I must use a CQS assured lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with best practice conveyancing procedures via the scheme protocol the standard includes many firms who perform conveyancing in Leominster.
I'm buying my first flat in Leominster with a mortgage from HSBC Bank. The builders would not reduce the amount so I negotiated £7000 of additionals instead. The property agent told me not reveal to my conveyancer about this deal as it will adversely affect my mortgage with the bank. 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.
I decided to have a survey completed on a property in Leominster before appointing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor has said that some lenders will not issue a mortgage on this type of property.
It depends who your proposed lender is. Lloyds has different requirements from Nationwide. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Leominster. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Leominster to see if the conveyancing costs will increase in light of this.
I have been advised by a few property agents in Leominster to get a quote from a solicitor using your seach tool. What’s the financial upside for Estate Agents to recommend your lawyers rather than alternative conveyancing organisations?
We refuse to make any financial incentive for directing people to this site. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
A mortgage offer from a mortgage company for the remortgage of my 4 bedroom flat is coming by the end of next week. Can you suggest a low cost remortgage conveyancing law firm in Leominster ?
You are on the wrong site if you are in need of the lowest fares for conveyancing in Leominster. Our aim is to provide cost effective conveyancing but we do not aim to work with the cheapest lawyers. Do not be fooled by brokers offering £99 conveyancing in Leominster.At best, in going for cheap conveyancing, you will end up with what you pay for and at worst you will end up invoiced for additional fee and still not receive the service required.