Me and my wife are purchasing property in Somerset. My lawyer is not on the bank conveyancing list. Am I still permitted to use my Somerset conveyancing solicitor notwithstanding that they are excluded from the bank panel?
Your options include
- Complete the deal with your chosen Somerset but your bank will no doubt appoint a on their approved list. The net result is additional cost together with probable frustration.
- Get a new to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your lawyer to do everything within their powers to get accepted on the bank’s panel of solicitors
My lawyer in Somerset is not on the Solicitor Panel. Can I still retain my prefered solicitor even though they are not on the approved list?
The limited options open to you here include:
- Complete the purchase with your preferred Somerset solicitors but will need to use a lawyer on their panel. This will inevitably rack up the total conveyancing fees and cause delays.
- Find an alternative lawyer to to deal with the conveyancing, remembering to check they are on the panel
This question may be naive but I am unexperienced as a first time buyer of a two bedroom flat in Somerset. Do I collect the keys to the property on the completion date from my conveyancer? If so, I will instruct a local conveyancing solicitor in Somerset?
On the day of completion you will not be required to attend the conveyancers office in Somerset. Conveyancing lawyers for you will arrange to send the completion advance to the vendor’s solicitors, and once they have received this, you will be called to receive the keys from the selling Agents and start moving into the property. This tends to happen early afternoon.
Is it the case that all Somerset CQS (Conveyancing Quality Scheme) solicitors are on the conveyancing list of approved practices?
Some major lenders now make use of the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
About to purchase flat in Somerset. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Somerset is on the conveyancing panel.
I am buying my first flat in Somerset with the aid of help to buy. The builders refused to move on the amount so I negotiated £7000 of fixtures and fittings instead. The property agent advised me not to tell my lawyer about the extras as it will jeopardize my loan with the bank. Do I keep my lawyer in the dark?.
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.
Is it best to choose a Somerset conveyancing practitioner in close proximity to the house I am buying? We have a good friend who can conduct the conveyancing however his firm is located 300miles away.
The primary upside of using a local Somerset conveyancing practice is that you can attend the office to sign paperwork, deliver your identification documents and apply pressure on them if necessary. Having local Somerset know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and the majority were impressed that should surpass using an unknown Somerset conveyancing solicitor just because they are round the corner.