The Olney conveyancing firm handling our Olney conveyancing has identified a discrepancy when comparing the information in the valuation survey and what is in the conveyancing documents. My lawyer says that he must ensure that the bank is OK with this discrepancy and is still content to lend. Is my conveyancer’s course or action legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We see that you have a search directory identifying law firms on the Nottingham conveyancing panel. Do companies pay you a commission if I retain them for our conveyancing in Olney?
We are a listing service only for law firms wishing to communicate if they are on the Nottingham conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Olney.
Having invested time researching consumer advice sites for a recommended lawyer in Olney, most advise that I should look for a CQS kitemarked lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard 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 covers numerous firms who execute conveyancing in Olney.
I am currently in the process of buying my council flat in Olney. I have a mortgage offer with Lloyds. 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 Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
About to purchase flat in Olney. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Olney conveyancing practitioner is on the RBS conveyancing panel.
Nationwide have agreed my mortgage in principle, my offer on a property in Olney has been accepted, what are the next steps?
Your estate agent will need to be informed of your conveyancing practitioner's details (make sure the lawyers are on the lender’s panel). Telephone Nationwide or the financial adviser and finish off any appropriate paperwork. Nationwide will instruct a valuer who will get in touch with the selling agent or seller to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Nationwide will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Olney.
I am purchasing my first flat in Olney with a mortgage from Halifax. The developers refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The sale representative told me not inform my lawyer about the extras as it could jeopardize my loan with Halifax. Is this normal?.
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.
Do all mortgage companies provide you with an approved list of Olney solicitors? How do you know who is on the lender conveyancing panel?
Olney firms and firms carrying out conveyancing in Olney themselves provide us confirmation that they are on the lender conveyancing panel as opposed to being supplied with a list from the bank directly.