My wife and I are buying a ground floor flat in Woodside Park. My Solicitor is not listed on the mortgage company conveyancing list. Am I still permitted to use my Woodside Park conveyancing solicitor even though they are excluded from the lender panel?
You have a couple of options open to you here
- Carry on with your preferred Woodside Park property lawyer but your lender will undoubtedly appoint a solicitor on their approved list. The net result is additional charges and likely interruption.
- Choose a fresh conveyancer to conduct the conveyancing, obviously checking they are on the mortgage company conveyancing panel.
- Convince your conveyancer to seek to join the lender panel
My wife and I have recently appointed a conveyancing solicitor in Woodside Park. I need to find out if they are accepted on the Nationwide Building Society approved list of lawyers. Can you or the lender confirm if they are on the panel?
You should e-mail the lawyer and enquire whether they can act for the lender. Otherwise you can get in touch with Nationwide Building Society who may be able to help.
We are buying a property in Woodside Park. I might seem paranoid but how we can trust a conveyancer? On completion day we have to deposit funds 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.
Is it the case that all Woodside Park solicitors on the Kent Reliance conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Some banks do allow licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
I'm at the point of looking at flats in Woodside Park and I am about to put in an offer. Is it wise to have my conveyancing practitioner on ‘stand by’? I am planning to take a mortgage with UBS.
It would be prudent to commence your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are getting a mortgage with UBS, ask your prospective lawyers if they are on the UBS conveyancing panel otherwise they can't do the mortgage legal work.
It has been five months following my purchase conveyancing in Woodside Park took place. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing my first flat in Woodside Park benefiting from help to buy. The developers refused to move on the amount so I negotiated £7000 of extras instead. The sale representative suggested that I not inform my lawyer about this side-deal as it would put at risk my loan with Leeds Building Society. 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.
I have been pointed in your direction by a number of selling agents in Woodside Park to choose a solicitor on your site. Is there a financial incentive for Estate Agents to recommend your services over alternative conveyancing organisations?
We don’t offer any referral fee for directing people our way. We thought it would be too underhand a fee as members of the public would think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.