I was informed yesterday by my IFA that my Pelsall solicitor is not on the mortgage company Solicitor panel. How can I be certain if this is indeed the case?
The first thing you need to do is to call your Pelsall lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they may recommend you to a Pelsall conveyancing firm that is on the conveyancing panel for your lender.
I am soon to complete on the purchase of a property in Pelsall but as a result of damage from some water damage at the property I have managed to agree reparation from the current proprietors in the sum of £3k by way of a reduction in the price. I had intended this to be dealt with as part of a side agreement yet HSBC will not agree to this. Why were they approached?
Your solicitor that is on the HSBC conveyancing panel is duty bound to disclose to HSBC of any variations to the purchase price. If you prohibit your conveyancing practitioner to notify the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new property lawyer for your conveyancing in Pelsall.
we are a couple who wish to acquire a purpose built apartment in Pelsall with a loan from Yorkshire Building Society.We use our Pelsall conveyancing practitioner but Yorkshire Building Society says he's not listed on their "panel". It seems we are left with no choice but to instruct a Yorkshire Building Society panel lawyer or retain our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Yorkshire Building Society use our lawyer?
No, not really. The mortgage offered to you contains various provisions, a common one being that conveyancers will be on the Yorkshire Building Society approved list. Until recently, most banks had large numbers of solicitors 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
Is it the case that all Pelsall CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing list of approved firms?
Some major banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
The formalities of my remortgage has taken place for my property in Pelsall. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
It is unclear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Pelsall building society branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Pelsall conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend based on their specific requirements. I simply don't know who is right.
The solicitor must follow the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
The deeds to our house are lost. The solicitors who handled the conveyancing in Pelsall 10 years ago have long since closed. What are my options?
Assuming you have a registered title the details of your ownership will be evidenced by HMLR under a Title Number. It is easy to carry out a search at the Land Registry, find your property and obtain up to date copies of the Registered Entries for a small fee. If the property is Leasehold then the Land Registry will usually retain a certified duplicate of the Registered Lease and again, a copy can be retrieved for twenty pounds.
I'm buying a new build house in Pelsall with a mortgage from Norwich and Peterborough Building Society. The builders would not reduce the price so I negotiated five thousand pounds worth of additionals instead. The house builders rep told me not reveal to my solicitor about the deal as it will impact my loan with the lender. Should I keep quiet?.
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.