We are buying a 1 bedroom apartment in Oldbury with a mortgage. We have a Oldbury conveyancer, however the mortgage company advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or keep our Oldbury property lawyer and pay for one of their panel firms to represent them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders 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. A further alternative is for your Oldbury conveyancing solicitor to apply to be on the conveyancing panel.
When it comes to lenders such as Lloyds, do Oldbury conveyancers face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
About to purchase maisonette in Oldbury. 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 Principality 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 Oldbury solicitor is on the Principality conveyancing panel.
HSBC have agreed my home loan in principle, my bid on a house in Oldbury has been accepted, what are the next steps?
Your estate agent will need to be informed of your conveyancer's details (ensure that the solicitors are on the lender’s panel). Contact HSBC or the financial adviser and complete any appropriate documentation. HSBC will appoint a valuer who will get in touch with the estate agent or seller to book a slot for the valuation to take place. Once conducted (assuming no problems) it takes on average a fortnight to receive the mortgage offer. HSBC will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Oldbury.
Just bought a semi-detached house in Oldbury , how long should it take for the Land Registry to record my proprietorship? My Oldbury conveyancing solicitor has been very slow, so I want to be sure the land registry aspects are addressed.
As far as conveyancing in Oldbury registration is no quicker or slower than anywhere else in England and Wales. Rather than based on location, timeframes can differ depending on who lodges the application, whether there are errors and whether the Land registry must send notices to any third persons or bodies. As of today approximately three quarters of submission are fully dealt with within two weeks but occasionally there can be extensive hold-ups. Registration takes place once the buyer has moved in to the property therefore an expedited registration is not typically an essential issue yet where there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
I am looking for a leasehold apartment up to £195,000 and identified one near me in Oldbury I like with amenity areas and station in the vicinity, the downside is that it only has 61 remaining years left on the lease. There is not much else in Oldbury in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a home loan that many years may be problematic. Discount the offer by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least twenty four months you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I need to instruct a conveyancing solicitor in Oldbury for my sale. Can I see a firm’s record with the legal regulator?
Anyone can see documented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Visit Check a solicitor's record. For records Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The regulator may monitor telephone calls for training requirements.