I was informed yesterday by my broker that my Bournemouth property lawyer is not on the lender Solicitor panel. What can I do to be sure that this is correct?
Your first step should be to call your Bournemouth conveyancer. It is reasonable to expect your lawyer to notify you of the situation. Where they are not on the panel they may be able to suggest a Bournemouth conveyancing practice that is on the approved list of lawyers for your mortgage company.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Bournemouth. My lender is The Mortgage Works
The Mortgage Works have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 14/10/2021, the requirements read as follows :
We are due to move property in January. Does my conveyancing solicitor call the removal company on the day of completion. Incidentally, can you suggest a removal company in Bournemouth. Conveyancing solicitor was found before I stumbled across this site.
On the day of completion you will need to collect the keys from your property agent however this should only happen when the previous owners solicitors inform the agent that they have the completion monies and the keys can be released. After that you should inform the removal company that you are ready to move in. We do not suggest a specific removal organisation but can help you find a residential property solicitor in Bournemouth or a firm that specialises in conveyancing in Bournemouth.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Bournemouth conveyancer on the TSB panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
Completion of my remortgage has taken place for my property in Bournemouth. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
Just had an offer accepted on a new build flat in Bournemouth. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bournemouth
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are architect prepared. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I have been on the look out for a flat up to £195,000 and identified one near me in Bournemouth I like with a park and railway links in the vicinity, the downside is that it only has 51 remaining years left on the lease. There is not much else in Bournemouth in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will be a potential deal breaker. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this matter.
My nephew is embarking on her first house purchase, he had his mortgage in principle. After the offer was accepted on house we contacted the bank to issue the formal offer. I was shocked to hear that mortgage companies do not accept all conveyancing practitioner, they have to be on a list, is this legal?
Banks normally imposes restrictions either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Bournemouth property lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Probably not.