I am selling my house in Colerne and the estate agent has just text me to advise that the buyers are appointing a new conveyancer. The reason given is that the bank will only work with solicitors on their conveyancing panel. On what basis would a leading mortgage company only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Colerne ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise 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.
Can the conveyancing lawyers that you recommend handle auction conveyancing in Colerne?
We know of a number of auction solicitors we can connect you with those specialising in auction conveyancing. Colerne is one of our areas of in which our lawyers have a presence.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Colerne. The house had a relatively small loan remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this possible?
If you plan to re-mortgage then Virgin Money will insist on your using a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
My partner and I are spending time looking at apartments in Colerne and I am now considering a potential offer. Is it sensible to have my conveyancer on ‘stand by’? I intend to finance via a mortgage with Virgin Money.
It would be advisable to start your search sooner rather than later. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. As you are seeking a mortgage with Virgin Money, ask your prospective lawyers if they are on the Virgin Money conveyancing panel otherwise they can't do the mortgage legal work.
Intending to buy a maisonette in Colerne. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Clydesdale conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Colerne conveyancer is on the Clydesdale conveyancing panel.
After shopping around on the internet I have found a Colerne lawyer having made sure that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Colerne postcode. As you are getting a mortgage with Nottingham, you could contact them to see if they have a list of approved surveyors in Colerne.
What can a local search inform me regarding the house I am purchasing in Colerne?
Colerne conveyancing often starts with the applying for local authority searches directly from your local Authority or through a personal search company for instance Searchflow The local search plays an important role in many a Colerne conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will provide data on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 topic sections.
How can the Landlord & Tenant Act 1954 impact my commercial property in Colerne and how can you help?
The 1954 Act affords a safeguard to business lessees, granting the legal entitlement to apply to court for a renewal lease and continue in occupation at the end of an expired lease. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Colerne