I am expecting a offer of a home loan from Lloyds. I would like to employ the services of a Licensed Conveyancer in Brentwood. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
My fiance and I changing mortgage lender for our flat in Brentwood with Bank of Ireland. We have a son 18 who lives at home. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is forfeited by the lender. I have two questions (1) Is this document specific to the Bank of Ireland conveyancing panel as he did not need to sign this form when we bought 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Bank of Ireland. This is solely used to protect Bank of Ireland if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Bank of Ireland had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
The Brentwood conveyancing firm that I recently instructed on my purchase in Brentwood have without warning shut down. I only went with them because I needed a solicitor on the RBS conveyancing panel and my previous Brentwood lawyer was not. I cut them a cheque for £250 in advance. What do I do now?
If you have an estate agent involved then inform them immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the RBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
I bought my apartment on 13 April and my personal details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Brentwood expressed confidence that it should be registered inside ten days. Are properties in Brentwood uniquely lengthy to register?
As far as conveyancing in Brentwood registration is no faster or slower than the rest of England and Wales. As opposed to being determined by geographic area, timescales can differ depending on the party submitting the application, whether there are errors and whether the Land registry have to notify any third persons or bodies. Currently approximately 80% of submission are fully dealt with within two weeks but occasionally there can be extensive delays. Registration takes place after the purchaser has moved in to the property so 'speed' is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer must contact the land registry and explain the circumstances.
Is it simple use the search tool to locate a conveyancing lawyer in Brentwood on the approved list for my lender?
1st choose a mortgage company such as Lloyds TSB Bank, Bank of Scotland or Nottingham Building Society then specify your location for example Brentwood. Conveyancing firms in Brentwood and beyond should be listed.
Should I cancel my mortgage payments with Virgin Money as soon as a completion date for my home sale in Brentwood has been agreed?
You are best advised to maintain paying any mortgage payments to Virgin Money pending the mortgage being redeemed on completion as part of your Brentwood conveyancing.