I can't travel far from Rye. Can you please spell out why all Rye property lawyers aren't automatically on all mortgage company panels?
Before the recession most banks displayed an attitude to risk which differs from the current day. The Financial Services Authority in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the conveyancing practitioners on your panel. As a result, mortgage companies have subsequently looked to extract more data from law firms concerning their operations and the staff who work for them and set certain criteria such as completing a minimum number of transactions. Many firms have found themselves excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of volume of transactions the mortgage companies set.
My wife and I have recently appointed a conveyancing solicitor in Rye. I I would like to check if they are accepted on the Birmingham Midshires conveyancing panel. Can you help?
The first thing to do is contact the conveyancer and enquire if they are on the lender panel. Alternatively you can call Birmingham Midshires who may be able to confirm.
We are buying a apartment in Rye. I might seem paranoid but how we can trust a lawyer? At some point we have to put funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
There are a variety of conveyancing solicitors in Rye but how do I know who I should use?
It would be unwise to be swayed by the cheapest Rye conveyancing fees. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Does a directory service exist listing HSBC panel solicitors in Rye on the Building Society Association’s Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. Very few lending institutions make their panel listings viewable on the web. Where you are in need of a Rye conveyancer on the HSBC please make the most of our tool.
I used Stirling Law several years past for my conveyancing in Rye. Now, I need the files but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Rye of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Rye with a loan from Nationwide Building Society. The sellers refused to reduce the amount so I negotiated 6k of fixtures and fittings instead. The property agent told me not reveal to my conveyancer about this extras as it may put at risk my mortgage with Nationwide Building Society. Is this normal?.
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.
Due to the input of my in-laws I had a survey completed on a house in Rye before instructing lawyers. I have been told that there is a flying freehold aspect to the house. Our surveyor has said that some lenders may not issue a mortgage on a flying freehold home.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rye. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rye to see if the conveyancing will be more expensive.