I am nearing exchange of contracts for my ground floor flat in Glenfield and the estate agent has just called to warn that the buyers are switching property lawyer. The reason given is that the mortgage company will only work with solicitors on their approved list. Why would a major lender only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Glenfield ?

UK lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for decades.

Lenders blame a rise in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.

I am aiming to move house in . Will my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you recommend a removal company in Glenfield. Conveyancing lawyer was organised prior to coming across your site.

On the day of completion you will need to collect the keys from the estate agent however this can only happen once the sellers conveyancers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be released. Subsequently you will need to advise the removal company that you are ready to move in. As a matter of policy we do not recommend a particular removal company but can assist you in locating a conveyancing in Glenfield or a firm that specialises in conveyancing in Glenfield.

We had chosen solicitors locally in Glenfield on the solicitor approved list. They have just billed me an additional amount for handling the mortgage. Is this a supplemental conveyancing fee set by ?

Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your can levy a fee for this. This fee is not dictated by but by your Glenfield . Numerous firms on the panel will levy an ‘acting for lender’ fee and others do not.

We were going to get a DIP from this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do recommend any Glenfield solicitors on the conveyancing panel, or is it better to find our own lawyer?

You will need to appoint Glenfield solicitors independently although you'll need to choose one on the conveyancing panel. The solicitor represents both you and through the process.

I am buying a new build house in Glenfield with the aid of help to buy. The builders refused to move on the amount so I negotiated 6k of additionals instead. The estate agent advised me not reveal to my lawyer about the deal as it will put at risk my mortgage 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.

I am hoping to complete next month on a leasehold property in Glenfield. Conveyancing solicitors inform me that they report fully on Monday. Are there areas in the report that I should be focusing on?

Your report on title for your leasehold conveyancing in Glenfield should include some of the following:

Ground rent - what is payable and when you need to pay, and also know whether this is subject to change Who has the liability to repair and maintain the building. It is essential for you to know who is responsible the repair and maintenance of all parts of the block and communal areas How long the lease is. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years Additions to the flat

Leasehold Conveyancing in Glenfield - Sample of Queries before Purchasing

It would be prudent to discover as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to day to day issues like the upkeep of the common parts. Ask other people what they think of their management. In conclusion, investigate as to the dates that you are obliged pay the service charge to the managing agents and precisely what it includes. Where a Glenfield lease has no more than eighty years it will have adverse implications on the value of the flat. It is worth checking with your bank that they are happy with remaining years on the lease. A short lease means that you will almost definitely need a lease extension at some point and you need to have some idea of what this will be. Remember, in most cases you will need to own the residence for a couple of years in order to be eligible to exercise a lease extension. Is anyone aware of any major works anticipated that will increase the maintenance costs?

I am searching for Glenfield conveyancing quotes online. Can I be confident that all the Glenfield practices that are identified on your site are on the mortgage company conveyancing panel?

The law firms on our directory have advised us that they are on the lender panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Glenfield firm being on the lender conveyancing panel is not accurate.