I am selling my home in Rusholm and the estate agent has just text me to warn that the buyers are swapping conveyancer. The excuse is that the bank will only work with property lawyers on their approved list. Why would a leading mortgage company only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Rusholm ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
We are soon to exchange on the purchase of a property in Rusholm but as a consequence of damage from some water damage at the property I have managed to agree reparation from the owner of £2k in the form of a reduction in the price. This was going to be dealt with as part of the conveyancing process but Clydesdale are not allowing this. Should they have been approached?
The conveyancing practitioner that is on a Clydesdale approved list is duty bound to inform Clydesdale of any amendments to the sale price. If you prohibit your lawyer to disclose the reduction to Clydesdale then they would have to discontinue acting for you. In addition, Clydesdale and you would have to appoint a new lawyer for your conveyancing in Rusholm.
My brother-in-law has suggested I instruct a conveyancing solicitor in Rusholm. I need to find out whether they are on the Accord Mortgages Ltd conveyancing panel. Can you or the lender confirm if they are on the panel?
The first thing you should do is call the lawyer and ask them if they are on the lender panel. Otherwise you can call Accord Mortgages Ltd who may be able to confirm.
The deeds to our house can not be found. The conveyancers who dealt with the conveyancing in Rusholm 10 years ago no longer exist. Will I be able to sell the house?
Gone are the days when you need to have the physical original deeds to establish that you are the registered proprietor of land or premises, as the Land Registry hold details of all registered land or property electronically.
I am purchasing my first flat in Rusholm benefiting from help to buy. The sellers refused to reduce the price so I negotiated 6k of additionals instead. The property agent advised me not inform my lawyer about this side-deal as it may adversely affect my mortgage with the bank. 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.
I am selling my home. My previous solicitors has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Rusholm if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Rusholm. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move runs with a minimum of fuss.