The Kidderminster conveyancing firm handling our Kidderminster conveyancing has uncovered a difference when comparing the surveyor’s assumptions in the valuation report and what is in the legal papers for the property. My solicitor informs me that he needs to ensure that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s stance right?
Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
We see that you have a post code search directory identifying law firms on the Virgin Money conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Kidderminster?
We are a listing service only for law firms wishing to communicate if they are on the Virgin Money conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Kidderminster.
We wish to acquire a newly converted apartment in Kidderminster with a residential mortgage from Barclays .We would like to retain our Kidderminster conveyancing lawyer but Barclays advised that her practice is not listed on their "panel". We have to appoint a Barclays panel firm or retain our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The home loan issued to you contains various provisions, a common one being that lawyers needs to be on the Barclays approved list. in the past, most banks had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Barclays
When it comes to lenders such as HSBC, do Kidderminster lawyers face an annual charge to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
We were going to get a OIP from Kent Reliance this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Kidderminster solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint Kidderminster 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.
Planning on purchasing a maisonette in Kidderminster. 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 Nationwide 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 Kidderminster property lawyer is on the Nationwide conveyancing panel.
We are hoping to purchase a repossessed flat in Kidderminster and the mortgagee in possession would like to complete within 28 days. Do solicitors meet that timeframe? Would it be better to instruct a high street Kidderminster firm or an online firm that professes to complete quickly?
Attend your Kidderminster shopping parade. Pop in to two or three firms and ask to see a conveyancing solicitor for a quote. Set out your situation and seek assurances on time frames. Appoint the one that appears most trustworthy. Be sure to use a conveyancing practitioner on the list of solicitors approved by your lender.