My Conveyancer in South Molton has never been on on the Bank of Ireland Solicitor Panel. Is it possible for me to continue with my family solicitor even though they are excluded from the Bank of Ireland panel of approved conveyancing solicitors?
The limited options available to you here include:
- Carry on with your existing South Molton solicitors but Bank of Ireland will need to use a lawyer on their panel. This will inevitably rack up the total conveyancing charges and cause frustration.
- Get an alternative solicitor to to deal with the purchase, remembering to check they are Persuade your lawyer to do everything within their powers to join the Bank of Ireland conveyancing panel
We are planning to move house in December. Should my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you recommend a removal company in South Molton. Conveyancing lawyer was chosen prior to coming across your page.
On the day of completion you can pick up the house keys from the selling agent however this can only occur when the sellers lawyers advise the agent that they acknowledge receipt of the completion payment and the keys can be released. You should inform the removal men that they can start moving you in. As a matter of policy we do not recommend a specific removal company but can help you choose a residential property solicitor in South Molton or a firm with expertise in conveyancing in South Molton.
is it true that all South Molton solicitor practices on the Co-operative conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Co-operative conveyancing panel they would need to be regulated by the SRA. Many banks do allow licenced conveyancers on their panel in which case such organisation would be overseen by the Council of Licensed Conveyancers.
I was told three weeks ago that my mortgage has been agreed to by Bank of Ireland. Is it usual for Bank of Ireland to only issue the offer once my solicitor in South Molton is approved on their conveyancing panel? Bank of Ireland have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Bank of Ireland to deal with your lawyer's application to be on the Bank of Ireland conveyancing panel. There's no guarantee that your solicitor will be accepted.
I'm purchasing my first flat in South Molton with a mortgage from Barnsley Building Society. The developers would not budge the price so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my conveyancer about the extras as it would impact my mortgage with the lender. 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a quick, no chain conveyancing. South Molton is where the house is located. What do you suggest?
Flying freeholds in South Molton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in South Molton you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in South Molton may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Should I be wary that brokers that I am dealing with are recommending a factory type conveyancing firm rather than a High Street South Molton conveyancing practice?
As with many professional services, often suggestions from connections can be worth their weight in gold. Yet there are many people with a keen interest in a conveyancing matter; estate agents, financial adviser and lenders might all put forward lawyers to select. Sometimes these conveyancers might be known to one of the organisations as one of the best in their field, but sometimes there might be a financial incentive behind the recommendation. You are at liberty to choose your own lawyer. However, bear in mind that the majority of lenders have an approved list of law firms you are obliged to use for the lender related work in your transaction.