My wife and I are planning to purchase a home in Bradford On Avon and are in fact using a Bradford On Avon conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. have this morning contacted us to inform me that there is now an issue as our Bradford On Avon solicitor is not on their approved list of lawyers. Is this a problem?

When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Bradford On Avon lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.

My partner and I are only a couple days away from an exchange on a flat in Bradford On Avon and my mum and dad have sent the 10% deposit to my . I am now told that as the deposit has not come from me my needs to disclose this to my lender. I am advised that, in also acting for the mortgage company he must advise them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the home loan, so is it really necessary for him to raise this?

The is legally required to check with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.

I am thinking of refinancing my home in Bradford On Avon, does my lawyer have to be on the Conveyancing panel?

There is nothing to stop you using your solicitor, but will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.

What is the difference between a licensed conveyancer and conveyancing solicitor in Bradford On Avon

There are many recorded licenced Conveyancers in Bradford On Avon and Solicitor firms in Bradford On Avon who can help with your conveyancing It is important to make clear that both are regulated professionals specialising in the legal work in transferring property. Both can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.

The formalities of my purchase has taken place for my property in Bradford On Avon. Conveyancing was satisfactory but I would like to complain about the lender. Who do I contact should I wish to lodge a complaint?

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 resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.

It is not clear whether my bank requires a lease extension. I have telephoned my Bradford On Avon bank branch on numerous occasions and was advised it wasn't a problem and they would lend. My Bradford On Avon conveyancing solicitor - who is on the bank conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?

Provided that the is on the mortgage company approved list, they must comply with the CML Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.

I'm buying a new build house in Bradford On Avon with a loan from . The sellers would not reduce the amount so I negotiated 6k of extras instead. The sale representative told me not reveal to my conveyancer about this deal as it may impact my loan with the lender. 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.