My husband and I are looking to acquire a flat in Denton and have appointed a Denton conveyancing practice. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Platform Home Loans Ltd have this afternoon contacted us to advise us that they have now hit a problem as our Denton lawyer is not on their conveyancing panel. Please explain?
Where you are buying a property requiring a mortgage it is usual 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 Quality Scheme. Your solicitor 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 bank's conveyancing panel as you are at liberty to use your preferred Denton lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My conveyancer has identified a a problem with the lease for the property we are purchasing in Denton. The seller’s lawyers have offered defective title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that he must check that the mortgage company is content with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook specifications. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your solicitor will have no choice but to discontinue acting for you.
What is the optimum way to investigate if the solicitor carrying out my conveyancing in Denton is on the mortgage lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus paying £192.00 in additional legal bill.
Feel free to make the most of the find a lender approved solicitor tool on this site. Pick the lender and type ‘Denton’ or your preferred area and you will be presented with a number of lawyer based in Denton or by proximity to you.
I am purchasing a end of terrace house in Denton. The intention is to an extension at the rear at the house.Will the conveyancing process include enquiries to ascertain if these alterations are permitted?
Your solicitor will check the registered title as conveyancing in Denton will on occasion identify restrictions in the title deeds which restrict categories of changes or necessitated the permission of another owner. Some extensions need local authority planning permissions and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. It would be sensible to check these things with a surveyor prior to committing yourself to a purchase.
Two weeks ago we had a mortgage agreed in principle with Nationwide. Denton conveyancing lawyers are instructed. How long does it take for Nationwide to issue the offer to the lawyer?
Some lenders take longer than others. Have Nationwide conducted the valuation? Have you advised Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Having digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Denton solicitor - who is on the Santander conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander 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 solicitor 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 Denton postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Denton.
Various online forums that I have come across warn that are the primary cause of delay in Denton house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any slowing down conveyancing in Denton.
I am an executor of my recently deceased parent's Will, with a house in Denton which will be marketed. The house is unregistered at HMLR and I'm advised that many buyers solicitors will insist that it is done before they will move forward. What's the mechanism for this?
In the situation you refer to it seems advisable to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.