Unfortunately I am unable to travel far from Harold Park. What is the rationale as to why all Harold Park conveyancers aren't automatically on all bank panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies purging a number of firms off their official list of approved lawyers .
My grandson is purchasing a newly built flat in Harold Park with a home loan from Coventry BS. His conveyancer 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 engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Coventry BS 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 Coventry BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
My Solicitor in Harold Park has never been on on the The Royal Bank of Scotland Conveyancing Panel. Can I still continue with my prefered solicitor notwithstanding that they are not on the The Royal Bank of Scotland approved list?
The limited options open to you here include:
- Complete the purchase with your preferred Harold Park lawyers but The Royal Bank of Scotland will need to instruct a conveyancer on their list of acceptable firms. This will inevitably rack up the total conveyancing fees and cause frustration.
- Find an alternative lawyer to to deal with the conveyancing, obviously checking they are on the The Royal Bank of Scotland panel
We are getting a further advance on our mortgage from Coventry BS as we intend to conduct alterations to our property in Harold Park. Do we need to select a high street Harold Park solicitor on the Coventry BS conveyancing panel to deal with the paperwork?
Coventry BS do not ordinarily instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Clydesdale are being a right pain. The Harold Park solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are requiring a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I had an offer accepted on an apartment in Harold Park on 5/12/2024, valuation was booked 4 days after, received a clean bill of health. Property lawyer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Are Barclays entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
How does conveyancing in Harold Park differ for new build properties?
Most buyers of new build residence in Harold Park come to us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is completed. This is because builders in Harold Park usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Harold Park or who has acted in the same development.