My fiance and I are looking to buy a home in Cotgrave and have instructed a Cotgrave conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Skipton Building Society have this morning contacted us to advise us that they have now hit a problem as our Cotgrave conveyancer is not on their approved list of lawyers. Please explain?
If you are buying a property needing a mortgage it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your bank 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Cotgrave lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
we are a couple who intend to purchase a newly converted flat in Cotgrave with a mortgage from Santander.We have a Cotgrave conveyancing solicitor but Santander advised that her practice is not on their "panel". It seems we are left with little choice but to instruct a Santander panel solicitor or keep our preferred solicitor and pay for one of their panel ones to act for them. We feel as though this is unjust; is there anything we can do?
No, not really. The loan offered to you contains various provisions, one of which will be that solicitors will be on the Santander conveyancing panel. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your lawyer to apply to be on the conveyancing panel for Santander
I'm the only beneficiary of my late mum's will and I have everything in my name alone, including the house in Cotgrave. The Cotgrave property was put into my name in June. I want to move. I understand that there is a CML six month 'rule', which means that my proprietorship will be regarded the same way as if I'd bought the property in June. Will no one buy the property for half a year?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view lenders take of it, depend on the mortgage company as this clause primarily exists to pick up on subsales or the flipping of properties.
After much negotiation I have agreed a price on an apartment in Cotgrave. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an upfront payment of £200. Soon after, the property lawyer contacted me sheepishly admitting that they were not on the HSBC conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the HSBC panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Intending to buy a apartment in Cotgrave. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton 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 Cotgrave conveyancing practitioner is on the Skipton conveyancing panel.
I know that there are debates on Chancel Insurance on online forums. Do I need this when purchasing a residence in Cotgrave? or I am told that there is historic law that means some house owners living in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this relevant for conveyancing in Cotgrave?
Unless a prior acquisition of the property completed after 12 October 2013 you may take it that lawyers delivering conveyancing in Cotgrave to remain recommending a chancel search and or insurance against a claim.
Are there restrictive covenants that are commonly identified during conveyancing in Cotgrave?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Cotgrave. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I have been informed by various friends that it should take six to eight weeks for Cotgrave conveyancing to complete.This was 3 ago. The property information was only forwarded from the vendors property lawyer a few days ago so now does it countdown?
There is no conventional countdown for conveyancing in Cotgrave, or any area in the UK. You simply have to make sure your finances are in place and in due course the rest will come to you eventually.