I am getting a offer of a home loan from Lloyds. My intention is to retain the legal services of a Licensed Conveyancer in Ironbridge. Does the Lloyds Conveyancing panel allow for Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Our Ironbridge lawyer has uncovered an inconsistency between the surveyor’s assumptions in the valuation report and what is in the conveyancing documents. My lawyer informs me that he is duty bound to check that the bank is OK with this discrepancy and is still content to lend. Is my solicitor’s course or action legitimate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook provisions 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 both parties.
We just had an offer accepted to buy with Norwich and Peterborough Building Society. I went into a couple of high street firms but am unable to find a Ironbridge conveyancing firm on the Norwich and Peterborough Building Society approved list. Could you assist?
Please do make use of the find a lender approved solicitor tool on this page. Please choose the building society and type Ironbridge or your preferred area and you will see numerous solicitors based in Ironbridge or by proximity to you.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Ironbridge?
There are many registered licenced Conveyancers in Ironbridge and Solicitor practices in Ironbridge to choose from We would stress that the two are regulated professionals specialising in the legal work in the home buying process. The two can deal with other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it the case that all Ironbridge solicitor firms on the Nationwide conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nationwide conveyancing panel they would need to be governed by the SRA. Some mortgage companies do allow licenced conveyancers on their panel and in such a situation the organisation would be overseen by the Council of Licensed Conveyancers.
I can not fathom if my mortgage offer requires a lease extension. I have called into my local Ironbridge bank branch on various occasions and was told they are content with the situation and they will lend. My Ironbridge conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they refuse to lend in accordance with their published requirements. Who do I believe?
As long as the lawyer is on the bank panel, they must follow the CML Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I have recentlydiscovered that Action Conveyancing have been shut down. They conducted my conveyancing in Ironbridge for a purchase of a freehold house 18 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest way to check if the property is registered to you, you can make 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 Ironbridge conveyancing specialists.
I am looking for a ground for flat up to £235,500 and found one near me in Ironbridge I like with a park and station nearby, the downside is that it's only got 51 remaining years left on the lease. There is not much else in Ironbridge suitable, so just wondered if I would be making a grave error buying a lease with such few years left?
If you require a home loan the shortness of the lease will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of twenty four months you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this.