The loan offer from NatWest for the remortgage of my single room flat is to be issued any day now. Could you recommend a cheap conveyancing solicitor in Totnes?
This site is not designed to help those in pursuit of the lowest fares for conveyancing in Totnes. Our intention is to offer excellent value conveyancing but our intention is not to work with the cheapest lawyers. Avoid the trap of appointing brokers enticing you with low cost conveyancing in Totnes. Optimistically, in being led by low cost conveyancing, you will get your money’s worth and at worst you will end up being stung for extras and still not receive the service you were hoping for.
Our lawyer has identified a defect with the lease for the property we are purchasing in Totnes. The other side have put forward defective title insurance as a solution. We are content with insurance and will pay for it. Our property lawyer has advised that he must ensure that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your property lawyer will have no choice but to discontinue acting for you.
What happens if my lawyer’s firm is expelled from the Clydesdale Solicitor panel ahead of completing my conveyancing in Totnes?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
When it comes to mortgage companies such as Principality, do Totnes solicitors face a fee to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
How can we tell if a Totnes conveyancing solicitor on the Nottingham panel is any good?
When it comes to conveyancing in Totnes obtaining recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always suggest that you speak with the solicitor handling your conveyancing.
Two weeks ago we had a mortgage agreed in principle with Co-operative. Totnes conveyancing practitioners are appointed. What is the average time that one could expect to receive a mortgage offer from Co-operative?
Some lenders take longer than others. Have Co-operative conducted the valuation? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I'm buying a new build house in Totnes benefiting from help to buy. The sellers would not budge the amount so I negotiated 6k of extras instead. The property agent suggested that I not to tell my solicitor about this extras as it would impact my loan with the bank. Do I keep my lawyer in the dark?.
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.
We're first time buyers - had an offer accepted, yet the agent informed us that the vendor will only proceed if we instruct the agent's preferred solicitors as they need an ‘expedited deal’. My instinct tells me that we should use a family solicitor with experience of conveyancing in Totnes
It is unlikely the sellers are driving this. If they desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is going to damage their objectives. Speak to the owners direct and explain that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you are chain free (d) you intend to proceed fast (e)but you are going to appoint your preferred Totnes conveyancing firm - not the ones that will provide their negotiator at the agency a introducer fee or hit his conveyancing figures demanded by corporate headquarters.