I sincerely hope you can help me. My Norbury conveyancer is advising me that he is legally obliged toapply for Norbury conveyancing searches becausethe firm are on the Santanderconveyancing panel. These Norbury checks cost a lot of money can this be avoided?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a home loan with a bank your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your property lawyer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to follow the CML Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out Norbury conveyancing searches.
In what way does my ID and proof of funds have anything to do with my conveyancing in Norbury? Is this really necessary?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the ID of the person or body they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you are required to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to hand over ID verification documents, your lawyer can not take you on as a client.
In reviewing moneysavingexpert.com for an affordable solicitor in Norbury, many comment that I should use a CQS assured lawyer. What is CQS?
Norbury Conveyancing Quality Scheme practices have achieved certification by the law Society The Law Society introduced CQS to establish evidence of quality standards in the in the legal transfer of properties. CQS helps home movers to recognise practices who provide a quality residential conveyancing. Norbury is one of locations in England and Wales in which accredited firms have offices. The conveyancing scheme obliges law firms to undergo a strict assessment, compulsory training, self-certification, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Council of Mortgage Lenders.
I am buying a new build house in Norbury benefiting from help to buy. The builders would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative advised me not reveal to my lawyer about this deal as it could jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Norbury is where the house is located. Can you offer any assistance?
Flying freeholds in Norbury are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Norbury you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Norbury may decide 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 property.
Is it simple use the search facility to locate a conveyancing practitioner in Norbury on the panel for my lender?
First choose a mortgage company such as Nationwide Building Society, Barnsley Building Society or TSB then specify your location for instance Norbury. Conveyancing organisations in Norbury and across England and Wales should be shown.