Am I correct in assuming that the fact that my conveyancer in Tedburn St Mary is not on my mortgage company's conveyancing panel that there is a problem with the quality of the firm’s work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Tedburn St Mary conveyancing firm and enquire why they are no longer on the approved list for your lender.
Last month we had a mortgage agreed in principle with Yorkshire BS. Tedburn St Mary conveyancing solicitors were instructed. How long does it take for Yorkshire BS to send the offer to the property lawyer?
There is no definitive answer here. Have Yorkshire BS conducted the valuation? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
It is not clear whether my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Tedburn St Mary building society branch on a couple of occasions and was informed it wasn't a problem and they would lend. My Tedburn St Mary conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their published requirements. I have no idea who is right.
Your conveyancing practitioner has to comply with the Council of Mortgage Lenders’ Handbook Part 2 requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Intending to buy a house in Tedburn St Mary. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance 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 Tedburn St Mary property lawyer is on the Kent Reliance conveyancing panel.
I have todaybecome aware that Arc property Solicitors have been shut down. They conducted my conveyancing in Tedburn St Mary for a purchase of a leasehold flat 18 months ago. How can I check that my home is not still registered in the name of the former proprietor?
The easiest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Tedburn St Mary conveyancing specialists.
I opted to have a survey carried out on a property in Tedburn St Mary before instructing lawyers. I have been told that there is a flying freehold aspect to the property. Our surveyor has said that some lenders may not issue a mortgage on such a home.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to telephone us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Tedburn St Mary. Conveyancing will be smoother if you use a solicitor in Tedburn St Mary especially if they are accustomed to such properties in Tedburn St Mary.
I've found a house that appears to be perfect, at a great price which is making it all the more appealing. I have just discovered that it's a leasehold rather than freehold. I would have thought that there are issues buying a leasehold house in Tedburn St Mary. Conveyancing solicitors have not yet been instructed. Will they explain the issues?
The majority of houses in Tedburn St Mary are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area can help the conveyancing process. We note that you are purchasing in Tedburn St Mary in which case you should be looking for a Tedburn St Mary conveyancing practitioner and be sure that they have experience in advising on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a leaseholder you will not be entirely free to do whatever you want to the property. The lease comes with conditions such as requiring the landlord’spermission to carry out alterations. You may also be required to pay a maintenance charge towards the upkeep of the communal areas where the property is part of an estate. Your lawyer will advise you fully on all the issues.