My partner and I are planning to buy a home in Clayton-le-Moors and are in fact using a Clayton-le-Moors conveyancing firm. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Barnsley Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Clayton-le-Moors conveyancer is not on their conveyancing panel. What do we do from here?
If you are buying a property requiring a mortgage it is normal for the purchasers' lawyers to also represent 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 Accreditation Scheme. Your property lawyer 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 Clayton-le-Moors solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to instruct their panel solicitor as I would much rather appoint a Clayton-le-Moors based conveyancing firm?
You should check but the the likelihood is that allocate you one of their panel solicitors if you take up the "fee-free" incentive. Contact the mortgage company to ask if they make available a monetary alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Clayton-le-Moors.
Does a directory service exist listing Principality panel solicitors in Clayton-le-Moors on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings open the public online. Where you are looking for a Clayton-le-Moors lawyer on the Principality please make the most of our tool.
My husband and I are spending time viewing apartments in Clayton-le-Moors and I am now considering a potential offer. Is it premature to have a solicitor in place? I am planning to take a home loan with RBS.
It would be wise to start your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the EA. Given that you are seeking a mortgage with RBS, make sure you remember to check that your lawyer is on the RBS conveyancing panel.
I have paid off my mortgage with Kent Reliance. I assume I don't need a Clayton-le-Moors conveyancer on the Kent Reliance panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Kent Reliance mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Kent Reliance mortgage from the register. Kent Reliance, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Kent Reliance has sent the Land Registry the discharge electronically, and
- Kent Reliance has instructed the Land Registry to do so
I am looking for a leasehold apartment up to £245,000 and identified one close by in Clayton-le-Moors I like with amenity areas and station in the vicinity, however it's only got 49 remaining years left on the lease. There is not much else in Clayton-le-Moors suitable, so just wondered if I would be making a mistake buying a short lease?
If you need a mortgage the shortness of the lease may be a potential deal breaker. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
We had our home loan agreed in principle on Monday with our bank. We appointed a local conveyancer in Clayton-le-Moors two days ago. Today, our broker contacted us saying that the bank said that we cannot use our solicitor as they aren't on their panel. As FTB's, we did not have a clue that the mortgage company had a say Is this permitted?
You are at liberty to choose any property lawyer you prefer to choose including the said conveyancer in Clayton-le-Moors nevertheless if they are not on the your bank's panel you must fork out an extra fee so your lender can instruct their own conveyancer too. On occasion it is conceivable that your solicitor may apply to get added to the bank list of approved firms. You can use online search facilities such as lenderpanel.com to find a conveyancing solcitor in Clayton-le-Moors on the lender panel. You can go into your local bank branch in Clayton-le-Moors. They can recommend conveyancing solicitors in Clayton-le-Moors on the panel for your mortgage company.