We are buying a 1 bedroom flat in Ouston with a mortgage. We would like to retain our Ouston lawyer, however the mortgage company says he's not on their "panel". It seems we have little choice but to use one of the bank panel firms or retain our Ouston solicitor and pay for one of their panel firms to act for them. We regard this is inequitable; are we not able to insist that the mortgage company use our Ouston solicitor ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. Another option that might be available is for your Ouston conveyancing lawyer to apply to be on the conveyancing panel.
I have been told that property searches are the number one reason for stalling in Ouston conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Ouston.
Have completed on a a semi-detached house in Ouston , how long should it take for the Land Registry to deal with the formalities evidencing my ownership? My Ouston conveyancing solicitor works at snail pace, so I want to check the post completion formalities are addressed.
As far as conveyancing in Ouston is concerned, registration is no faster or slower than anywhere else in the country. Rather than based on location, timescales can differ depending on who lodges the application, whether it is in order and if the Land registry must send notices to any interested parties. At present in the region of 80% of such applications are fully dealt with in less than three weeks but some can be subject to extensive hold-ups. Historically registration is effected after the buyer has moved in to the property therefore an expedited registration is not typically primary concern yet where it is urgent that the the registration takes place urgently then you or your conveyancer should communicate with the Registry to express the reasoning for the application to be prioritised.
I am purchasing a new build house in Ouston benefiting from help to buy. The developers would not move on the price so I negotiated £7000 of additionals instead. The house builders rep advised me not inform my lawyer about this extras as it will put at risk my loan with the bank. Should I keep quiet?.
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.
Due to the guidance of my in-laws I had a survey completed on a property in Ouston in advance of retaining solicitors. I have been told that there is a flying freehold aspect to the house. Our surveyor advised that some banks tend not grant a mortgage on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions from Halifax. Should you wish to telephone us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Ouston. Conveyancing may be slightly more expensive based on your lender's requirements.
I am thinking of appointing a conveyancing practitioner in Ouston for my house move. Can I review a solicitor's record with the profession’s regulator?
One may see published Solicitor Regulator Association (SRA) determinations arising from investigations commenced on or after 1 January 2008. Visit Check a solicitor's record. For records Pre 2008, or to check a firm's history, ring 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 SRA could recorded call for training requirements.