I am selling my ground floor flat in Bamber Bridge and the estate agent has just telephoned to advise that the buyers are appointing a new property lawyer. The reason given is that the bank will only deal with solicitors on their approved list. Why would a big named lender only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Bamber Bridge ?
Lenders have always had an approved set of law firms that can represent them, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
My wife and I purchasing a 3 bedroom semi in Bamber Bridge. We would like to carry out a loft conversion at the property.Will legal investigations on the property include checks to determine if these alterations are allowed?
Your property lawyer should check the registered title as conveyancing in Bamber Bridge will sometimes identify restrictions in the title documents which restrict certain alterations or need the permission of another owner. Some additions call for local authority planning consent and approval under the building regulations. Certain locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be wise to check these issues with a surveyor ahead of any purchase.
I am currently in the process of buying my council flat in Bamber Bridge. I have a mortgage offer with Aldermore. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Aldermore, you will need to appoint a solicitor on the Aldermore conveyancing panel.
I have a mortgage with UBS for my property in Bamber Bridge. Conveyancing was finalised 12 months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform UBS?
Your original mortgage agreement with UBS will provide that you need their approval in advance of renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel firm.
five months have elapsed following my purchase conveyancing in Bamber Bridge took place. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a quick, no chain conveyancing. Bamber Bridge is the location of the property. Is there any guidance you can give?
Flying freeholds in Bamber Bridge are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bamber Bridge you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bamber Bridge may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Are there any apps to help identify a Bamber Bridge law firm on the Bank of Scotland conveyancing panel? I have wheels and am prepared to travel upto 25kilometers to meet the solicitor.
You can use the facility on this page. Please pick a lender and your location and you will see a number of Bamber Bridge conveyancing lawyers locally. We have listed some Bamber Bridge conveyancing firms towards the end of this page and you can ring them to check if they are on the Bank of Scotland panel
We have just found out that one of the partners of the firm handling the purchase conveyancing in Bamber Bridge is a relative of the vendor. Is this acceptable?
As long as no conflict arises this is permitted. If you are obtaining mortgage finance then the lender may have a say as many lenders have specific requirements on this. For example for RBS- First Active as of 20/1/2023, the requirements read as follows :