My wife and I are looking to buy a home in Cotswolds and are in fact using a Cotswolds conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Platform Home Loans Ltd have this afternoon contacted us to inform me that there is now an issue as our Cotswolds lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also act for the mortgage company. 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 mortgage company 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 and you may continue to use your own Cotswolds solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Does a directory service exist listing Clydesdale panel conveyancers in Cotswolds on the Building Society Association’s Website?
No. There is no such tool on the CML or Building Society Association sites. Very few lenders make their panel listings visible over the internet. Where you are looking for a Cotswolds lawyer on the Clydesdale please use our tool.
We expect to receive a AIP from Kent Reliance this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Cotswolds solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Cotswolds solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
Completion of my purchase has taken place for my property in Cotswolds. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Care Department 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, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
Me and my brother have a 4 bedroom Georgian house in Cotswolds. Conveyancing solicitor acted for me and Barclays Direct. I happened to do a free search for it on the Land Registry database and there are a couple of entries: the first freehold, another for leasehold with the exact same address. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Cotswolds and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with the conveyancing lawyer who completed the work.
I'm buying a new build house in Cotswolds with the aid of help to buy. The developers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep suggested that I not disclose to my conveyancer about the side-deal as it may impact my mortgage with Nationwide Building Society. 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.
My husband and I are FTB’s - had an offer accepted, yet the property agent advised that the vendor will only go ahead if we use their recommended solicitors as they want a ‘quick sale’. My instinct tells me that we should use a local conveyancer who is familiar with conveyancing in Cotswolds
We suspect that the seller is unaware of this requirement. If they desire ‘a quick sale', taking such a hostile approach to a serious buyer is counter productive. Speak to the vendors direct and make the point that (a)you are genuine purchasers (b)you are ready to progress, with mortgage lined up © you have nothing to sell (d) you intend to proceed fast (e)however you are going to use your own,trusted Cotswolds conveyancing firm - not the ones that will earn their estate agent a kickback or meet his conveyancing targets set by HQ.