Unfortunately I am unable to travel far from Earls Barton. Can you please explain the reason why all Earls Barton solicitors are not on all bank panels?
As unjust as it may appear for lenders to limit who can act for them, from the public’s or conveyancer’s standpoint, the other side of the coin is that mortgage companies are becoming ever more anxious and regard it crucial to protect them against mortgage fraud. As a result of this concern mortgage companies are limiting their conveyancing panel to a size that they are happy to control.
Why do I have to pay up front for my conveyancing in Earls Barton?
Where you are retaining lawyers for conveyancing in Earls Barton your solicitor will request that you to provide them with funds to cover the the cost of the conveyancing searches. Normally this is asked for to cover the fees of the Local Authority Search. When the deposit is as part of the total price then this will be asked for shortly ahead of exchange of contracts. The closing balance that is needed should be transferred a few days ahead of the day of completion.
My aunt passed away last year and as sole heir and executor I was left the property in Earls Barton. The house had a relatively small loan remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to HSBC, pay off the mortgage. Is this possible?
If you intend to refinance then HSBC will require that you use a conveyancer on the HSBC 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 HSBC 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 HSBC mortgage is registered as a charge at the Land Registry.
I had a mortgage agreed in principle with Co-operative. Earls Barton conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from Co-operative?
There is no definitive answer here. Have Co-operative done the survey? Have you advised Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am due to exchange contracts on my house. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being difficult. The Earls Barton solicitor who is on the Virgin Money conveyancing panel is saying indemnity insurance will be fine but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Skipton have agreed my home loan in principle, my offer on a apartment in Earls Barton has been agreed to, what happens next?
The property agent will wish to know who your solicitors are (be sure the conveyancing practitioners are on the bank’s panel). Contact Skipton or the broker and finalise any outstanding documentation. Skipton will instruct a valuer who will get in touch with the estate agent or owners to schedule a time for the valuation to occur. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Skipton will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Earls Barton.
I have justfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Earls Barton for a purchase of a leasehold apartment 18 months ago. How can I check that the property is not still registered in the name of the previous owner?
The easiest way to see if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Earls Barton conveyancing specialists.
I have been on the look out for a ground for flat up to £245,000 and identified one near me in Earls Barton I like with a park and transport links in the vicinity, the downside is that it only has 49 remaining years left on the lease. There is not much else in Earls Barton suitable, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you require a home loan the remaining unexpired lease term may be problematic. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.