I am not well enough to travel far from Shinfield. Can you please spell out why all Shinfield solicitors aren't automatically on all bank panels?
Lenders tend to restrict either the nature or volume of conveyancing solicitors on their panel. A common example of such restriction(s) being that the organisation is required to have two or more partners. As well as restricting the type of firm, some have made a decision to limit the size of their panel they use to act for them. It is worth noting that banks have no accountability for the standard of advice provided by any Shinfield conveyancing practitioner on their approved list. Property fraud was a key driver in the culling of solicitor panels from 2008 even though there are opposing assessments about the extent of solicitor involvement in some of that fraud. Statistics from HMLR reveal that thousands of conveyancing firms only carry out a couple of conveyances annually. Those advocating conveyancing panel culls question why law firms should have any entitlement to remain on a lender panel when it is evident that property law is not their speciality?
I'm purchasing my first flat in Shinfield with a loan from Birmingham Midshires. The developers would not budge the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The estate agent suggested that I not inform my lawyer about this side-deal as it would adversely affect my mortgage with Birmingham Midshires. 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.
Due to the encouragement of my in-laws I had a survey completed on a house in Shinfield ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some lenders will not give a mortgage on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Shinfield. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Shinfield to see if the conveyancing costs will increase in light of this.
We're first time buyers - had an offer accepted, yet the property agent has warned us that the seller will only go ahead if we use their preferred solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a local solicitor who is accustomed to conveyancing in Shinfield
We suspect that the seller is unaware of this request. If they desire ‘a quick sale', turning down a motivated purchaser is is going to put the whole deal at risk. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are excited to move forward, with finances in place © you have nothing to sell (d) you intend to proceed fast (e)but you intend to use your preferred Shinfield conveyancing solicitors - as opposed tothose that will earn the negotiator at the agency a referral fee or meet his conveyancing figures set by head office.
Can you offer any advice when it comes to finding a Shinfield conveyancing firm to deal with our lease extension?
When appointing a property lawyer for your lease extension (regardless if they are a Shinfield conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We recommend that you talk with two or three firms including non Shinfield conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
How experienced is the practice with lease extension legislation? If they are not ALEP accredited then why not?
Shinfield Leasehold Conveyancing - Sample of Queries Prior to buying
Does the lease include onerous restrictions? How many years remain on the lease?
What is the reason for my conveyancing practitioner requiring numerous items of identification before they can commence with selling or purchasing a property in Shinfield?
Shinfield property lawyers are obliged by the Law Society, Solicitors Regulation Authority, HM Land Registry and current Money Laundering Regulations to certify that the have verified the identity of their clients. It is also sometimes a requirement of your bank if you are obtaining a mortgage. Furthermore they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, national insurance number and DOB.