I am expecting a offer of a home loan from Lloyds. I would like to use a Licensed Conveyancer in Tolworth. Does the Lloyds Solicitor panel allow for conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My Tolworth conveyancer has spotted an inconsistency when comparing the information in the valuation report and what is revealed within the title deeds. My solicitor informs me that he needs to ensure that the bank is OK with this discrepancy and is content to go ahead. Is my solicitor’s approach appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We see that you have a search directory listing firms on the Skipton conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Tolworth?
We are a listing service only for law firms wishing to communicate if they are on the Skipton conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Tolworth.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would prefer to use a Tolworth based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers where you accept the "fee-free" deal. Speak to the mortgage company to explore if they make available a monetary alternative. In the past a few mortgage companies offered a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Tolworth.
My relative suggested that if I am buying in Tolworth I should ask my conveyancer to carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is occasionally quoted for as part of the standard Tolworth conveyancing searches. It is not a small report of about 40 pages, listing and detailing important information about Tolworth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Tolworth Education with plans and statistics, Local Amenities and other useful information regarding Tolworth.
I am buying my first flat in Tolworth with a loan from National Westminster Bank. The developers would not budge the price so I negotiated five thousand pounds worth of additionals instead. The sale representative told me not inform my conveyancer about this extras as it could affect my loan with National Westminster Bank. 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.