My husband and I are approaching an exchange on a property in Carisbrooke and my parents have sent the exchange deposit to my lawyer. I am now informed that as the deposit has not arrived from me my lawyer needs to disclose this to my lender. I am advised that, in also acting for the bank he must advise them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The solicitor is legally required to check with the bank to make sure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only notify this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
We note that you have a post code search directory identifying law firms on the Clydesdale conveyancing panel. Do companies pay you a referral fee if I instruct them for our own conveyancing in Carisbrooke?
We are a listing service only for law firms wishing to communicate if they are on the Clydesdale conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Carisbrooke.
We had instructed solicitors based in Carisbrooke on the Yorkshire BS solicitor approved list. They have just billed me a separate sum for dealing with the Yorkshire BS mortgage. Is this an additional conveyancing fee specified by Yorkshire BS?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer may charge a fee for this. This fee is not dictated by Yorkshire BS but by your Carisbrooke lawyer. Numerous firms on the Yorkshire BS panel will quote ’dealing with mortgage’ fee and others do not.
I am expecting a OIP from RBS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Carisbrooke solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Carisbrooke solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Carisbrooke lawyer on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
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
Due to the input of my in-laws I had a survey completed on a property in Carisbrooke prior to appointing conveyancers. I have been informed that there is a flying freehold element to the house. The surveyor has said that some mortgage companies may not issue a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Nationwide. Should you wish to call us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Carisbrooke. Conveyancing will be smoother if you use a solicitor in Carisbrooke especially if they regularly deal with such properties in Carisbrooke.
Is it possible to switch conveyancer as I need to find a firm on the Norwich and Peterborough Building Society conveyancing panel. I was using a local conveyancing solicitor in Carisbrooke round the corner but the firm is not accepted by Norwich and Peterborough Building Society
We will our best to assist in finding you a conveyancing solicitor in Carisbrooke on the Norwich and Peterborough Building Society panel. Please note that the law firms that we list do not pay us commission if you instruct them and are regulated by the SRA who regulate all conveyancing solicitors in Carisbrooke. In utilising the find a conveyancing solicitor tool on this website, you can scrutinise costs for conveyancing solicitors in Carisbrooke and beyond.
My wife and I are purchasing a first floor flat in Carisbrooke. When we first instructed conveyancer, they said that they were on all mainstream lender panels. Our mortgage broker called today to advise that they are not on the TSB approved list. If it turns out to be true, what should we do? Should we just find a new property lawyer that is on their approved list or should we pay for dual representation, with TSB appointing their own approved property lawyer.
When acquiring a property with mortgage finance it is normal for the purchaser’s solicitors to also represent the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the property lawyer has to meet. Some lenders now insist their panel firms to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact TSB and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on TSB's conveyancing panel and you may continue to use your own Carisbrooke solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.