Am I correct in assuming that the fact that my conveyancer in Burnham On Sea is not identified on my lender's conveyancing panel that there is a problem with the quality of the firm’s work?
That is more than likely a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Burnham On Sea conveyancing firm and enquire why they are no longer on the approved list for your lender.
Our son is purchasing a new build apartment in Burnham On Sea with a mortgage from Nationwide. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
When it comes to lenders such as Principality, do Burnham On Sea lawyers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
We expect to receive a AIP from Principality 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 Principality recommend any Burnham On Sea solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Burnham On Sea solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I have instructed a Burnham On Sea lawyer having checked that they are on the RBS conveyancing panel. Does my lawyer arrange the survey of the property?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Burnham On Sea postcode. As you are getting a mortgage with RBS, you could contact them to see if they have a list of approved surveyors in Burnham On Sea.
Given that I am about to spend 450k on a property in Burnham On Sea I wish to have a conversation with the solicitor regarding thehome move prior to instructing the firm. Can this be arranged?
Absolutely - we would be delighted to talk to you we do not take any clients on without you speaking to the conveyancer who will be carrying out your property ownership legalities in Burnham On Sea.There is no ‘factory style conveyancing’ - every client is an important person, not a case reference. The law firms that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Burnham On Sea should be the amount on the final invoice that you are charged.
Why is New Build conveyancing in Burnham On Sea more expensive?
Purchasing a new build premises is completely distinct from the standard house buying conveyancing in Burnham On Sea. For a start housebuilders usually need contracts to exchange inside a short timeframe, the result being a a great deal of pressure on your conveyancing practitioner to ensure everything is in order. In addition new build properties often necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Mortgage lender obligations are also more demanding. Taking into account the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.