IfI was to buy a straightforward homein Wem for cash and dispense with a survey and no conveyancing searches how much should I expect to to save on my conveyancing in Wem?
Any savings you would make would be isolated to the Wem conveyancing searches. The lawyer is obliged to do the vast majority of work - money laundering, liaising with the vendors property lawyer, SDLT submission, register the ownership etc. A marginal saving might be made by not needing to register a mortgage but it won't be meaningful.
We are planning to acquire a flat and require a conveyancing solicitor in Wem who is on the Co-operative approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Co-operative . We don't recommend any particular firms conducting conveyancing in Wem.
Are the BSA intent on creating a searchable register to to identify solicitors on the Earl Shilton BS conveyancing panel for example in Wem?
We are not aware of any intention on the part of the BSA to promote such a register.
We are purchasing a property in Wem. I might seem paranoid but how we can trust a solicitor? At some point we have to deposit money into their account. What is the protection we have from them run away with our money?
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.
We previously instructed conveyancing lawyers locally in Wem on the Virgin Money solicitor panel. They are now charging me an additional sum for dealing with the Virgin Money mortgage. Is this a supplemental conveyancing fee specified by Virgin Money?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer is entitled to charge a fee for this. This charge is not set by Virgin Money but by your Wem conveyancing practitioner. Some firms on the Virgin Money panel will levy ’dealing with mortgage’ fee and others do not.
The formalities of my purchase has taken place for my property in Wem. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I am purchasing my first flat in Wem benefiting from help to buy. The builders refused to reduce the price so I negotiated £7000 of extras instead. The property agent advised me not inform my lawyer about this deal as it may affect 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.
My nephew is embarking on her first house purchase, the home loan was agreed last week in principle. One the seller agreed the offer on the flat we rang the bank to progress the mortgage application. We were very surprised to learn that mortgage lenders do not accept all lawyer, they must be on their panel, is this correct?
Lenders normally imposes restrictions either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Wem conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.