My wife and I are planning to purchase a property in Taunton and have instructed a Taunton conveyancing firm. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Birmingham Midshires have this afternoon contacted us to advise us that there is now an issue as our Taunton lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the purchaser's lender. 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 property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Taunton solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
I used Wolstenholmes a few years past for my conveyancing in Taunton. Now, I need the documents however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Taunton of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing a new build house in Taunton with a loan from Norwich and Peterborough Building Society. The developers refused to reduce the price so I negotiated 6k of additionals instead. The property agent advised me not inform my conveyancer about the side-deal as it could jeopardize my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I decided to have a survey completed on a house in Taunton ahead of instructing lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor has said that some lenders may refuse to issue a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements from Nationwide. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Taunton. Conveyancing may be slightly more expensive based on your lender's requirements.
How do I use the search facility to find a conveyancing practitioner in Taunton on the approved list for my bank?
1st pick a lender such as Nationwide Building Society, Barnsley Building Society or Godiva Mortgages Ltd then type in your location such as Taunton. Conveyancing organisations in Taunton and further afield should be identified.
I have been sourcing a conveyancing solicitor in Taunton for my house move. Is it possible to see a firm’s complaints history with the profession’s regulator?
Anyone may see documented Solicitor Regulator Association (SRA) determinations stemming from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For records about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The regulator could monitor call for training requirements.