Unfortunately I am unable to travel far from St Margarets. What is the rationale as to why all St Margarets lawyers aren't included on all lender panels?
Banks ordinarily restrict either the type or the number of conveyancing solicitors on their panel. Typical examples of such criteria being that a firm must have two or more partners. As well as restricting the structure of firm, some building societies decided to restrict the size of their panel they permit to act for them. It is worth noting that lenders have no liability for the quality of conveyancing supplied by any St Margarets solicitor on their approved list. Mortgage fraud was a key driver in the culling of conveyancing panels from 2008 even though there are contrary opinions about the extent of solicitor involvement in some of that fraud. Data published by HM Land Registry exposes that thousands of conveyancing organisations only carry out less than three conveyances a year. Those supporting conveyancing panel pruning ask why law firms deserve claim to remain on a lender panel when it is apparent that property law is not their speciality?
Can the conveyancing solicitors to be found on your site carry out auction conveyancing in St Margarets?
There are a number of auction practitioners we can put you in touch with those specialising in auction conveyancing. St Margarets is just one of hundreds of locations in which our lawyers are based.
We see that you have a search directory identifying law firms on the UBS conveyancing panel. Do firms pay you a commission if I appoint them for our own conveyancing in St Margarets?
We are a listing service only for law firms wishing to communicate if they are on the UBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in St Margarets.
We're in St Margarets, FTBs purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancing practitioner should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I'm purchasing my first flat in St Margarets benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The sale representative told me not inform my solicitor about this deal as it will adversely affect my mortgage with the bank. Should I keep quiet?.
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 guidance of my in-laws I had a survey completed on a house in St Margarets ahead of instructing conveyancers. I have been told that there is a flying freehold aspect to the house. The surveyor advised that some lenders may refuse to give a loan on this type of house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in St Margarets. Conveyancing may be slightly more expensive based on your lender's requirements.