I am hoping to receive a offer of a home loan from Nat West. I hope to use a Licensed Conveyancer in Stockbridge. Does the Nat West Conveyancing panel allow for conveyancers regulated by the CLC?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
My husband and I are hoping to buy a purpose built flat in Stockbridge with a mortgage from Bank of Scotland.We use our Stockbridge conveyancing practitioner but Bank of Scotland advised that his firm is not on their "panel". We have to appoint a Bank of Scotland panel firm or retain our high street solicitor and pay for a Bank of Scotland panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The home loan issued to you contains terms and conditions, one of which will be that solicitors needs to be on the Bank of Scotland approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Bank of Scotland
I am due to move property in August. Should my conveyancing solicitor call the removal company on the day of completion. On a separate note, can you recommend a removal company in Stockbridge. Conveyancing solicitor was organised before I stumbled across this page.
On the day of completion you will need to pick up the keys from the property agent however this can only be done when the previous owners lawyers advise the agent that the monies to complete are in and the keys can be passed over. After that you can inform the removal men that you are ready to move in. We are not in a position to suggest a specific removal company but can help you locate a conveyancing in Stockbridge or a legal practice with expertise in conveyancing in Stockbridge.
is it true that all Stockbridge solicitor firms on the Aldermore conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Aldermore approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
Can I be sure that the Stockbridge conveyancing solicitor on the HSBC panel is any good?
When it comes to conveyancing in Stockbridge obtaining recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advise that you speak with the solicitor carrying out your transaction.
Over the last few months I have been searching for a flat up to £305k and identified one round the corner in Stockbridge I like with amenity areas and railway links nearby, however it only has 51 remaining years left on the lease. I can't really find anything else in Stockbridge in this price bracket, so just wondered if I would be making a mistake buying a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this.
In scouring the internet for the words cheap conveyancing in Stockbridge it brings up numerous property lawyerslocally. How do I determine which is the right property lawyer for me?
The ideal way of seeking the right conveyancer is through a personal referral, so enquire of colleagues and relatives who have purchased a property in Stockbridge or the respected estate agent or mortgage broker. Fees for conveyancing in Stockbridge differ, so it's sensible to obtain at least three quotes from varying types of solicitors. Make sure that you clarify what costs in the quote includes.
Our solicitor in Stockbridge has discovered a a problem with the lease for the apartment we are purchasing in Stockbridge. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the lender conveyancing panel he must check that the lender is happy with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.