Unfortunately I am unable to travel far from Woolwich. I would like to know the understand why all Woolwich lawyers aren't included on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. It led to banks and building societies removing less reputable firms from their panel of approved property lawyers .
I am looking to buy a house and require a conveyancing solicitor in Woolwich who is on the Lloyds TSB Bank solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Lloyds TSB Bank in certain locations such as Woolwich. We dont recommend any particular firm.
What is your number one tip for choosing a conveyancing solicitor in Woolwich
We would encourage you not to base your choice on the lowest Woolwich conveyancing fees. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
My conveyancer has informed me that breach of easement insurance is necessary on my purchase. What is the level of cover for Woolwich conveyancing?
The right level of breach of easement indemnity insurance depends on your lender. It would differ for example between Nationwide Building Society and Virgin Money. Conveyancing solicitors as opposed to borrowers take out such policies.
We had appointed solicitors based in Woolwich on the Barclays solicitor approved list. They have just billed me a separate sum for handling the Barclays mortgage. Is this an additional conveyancing fee set by Barclays?
As unfair as it may seem, as long as it’s in their Terms and Conditions or estimate then yes your solicitor is entitled to charge a fee for this. This charge is not dictated by Barclays but by your Woolwich conveyancing practitioner. Numerous firms on the Barclays panel will quote ’dealing with mortgage’ fee and others do not.
Should our lawyer be making enquiries concerning flooding as part of the conveyancing in Woolwich.
Flooding is a growing risk for conveyancers dealing with homes in Woolwich. There are those who buy a property in Woolwich, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, but there are a number of checks that can be carried out by the purchaser or by their conveyancers which will figure out the risks in Woolwich. The standard information given to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the vendor to find out if the premises has historically flooded. If flooding has previously occurred which is not disclosed by the seller, then a purchaser could commence a claim for damages as a result of such an inaccurate answer. A purchaser’s solicitors should also carry out an environmental report. This should reveal if there is a recorded flood risk. If so, additional inquiries should be made.
I'm purchasing my first flat in Woolwich with the aid of help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of additionals instead. The house builders rep suggested that I not to tell my solicitor about the side-deal as it could affect my loan with National Westminster 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 input of my in-laws I had a survey completed on a house in Woolwich in advance of retaining conveyancers. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some lenders will not issue a mortgage on such a house.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you contact us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Woolwich. Conveyancing may be slightly more expensive based on your lender's requirements.