Me and my fiance are hoping to buy a 2 bedroom apartment in Forest Hall with a mortgage. We wish to retain our Forest Hall conveyancer, however the mortgage company advise he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Forest Hall conveyancing practitioner as well as pay for one of their panel lawyers to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Forest Hall conveyancing lawyer to apply to be on the conveyancing panel.
When researching mumsnet.com for an online solicitor in Forest Hall, most advise that I must use a CQS assured lawyer. What is CQS?
Forest Hall Conveyancing Quality Scheme practices have achieved accreditation by the law Society CQS was created to promote high standards in the home moving process. CQS helps buyers and sellers to identify solicitor firms who provide a quality residential conveyancing. Forest Hall is one of the many areas in England and Wales in which CQS have a presence. The conveyancing scheme requires solicitors to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is open only to members of the Law Society who meet the demanding standards set by the scheme and has the support of the Building Societies Association.
Forgive me if this question is silly but I am unseasoned as FTB of a ground floor flat in Forest Hall. Do I receive the keys to the property on the completion date from my lawyer? If so, I will instruct a High Street conveyancing solicitor in Forest Hall?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you will be able to pick up the keys from the Estate Agents and start moving into the property. This tends to happen between 1 and 3pm.
I have today made my last payment due on my mortgage with Principality. I assume I don't need a Forest Hall lawyer on the Principality panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Principality 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 Principality mortgage from the register. Principality, 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 Principality has sent the Land Registry the discharge electronically, and
- Principality has instructed the Land Registry to do so
I am selling my flat. I had a double glazing fitted in July 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Barclays are being difficult. The Forest Hall solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are requiring a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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.
How does conveyancing in Forest Hall differ for newly converted properties?
Most buyers of new build property in Forest Hall approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the premises is finished. This is because builders in Forest Hall usually acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Forest Hall or who has acted in the same development.
I opted to have a survey done on a property in Forest Hall prior to instructing solicitors. I have been advised that there is a flying freehold element to the property. Our surveyor advised that some lenders may not give a loan on this type of premises.
It varies from the lender to lender. HSBC has different requirements for example to Nationwide. Should you wish to call us we can investigate further via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Forest Hall. Conveyancing may be slightly more expensive based on your lender's requirements.
Our mortgage broker has suggested using their conveyancer for my conveyancing in Forest Hall - Is it not simpler advisable to just instruct them?
You need to establish if the estate agent is recommending a conveyancer or introducing to a solicitor. There are plenty of Forest Hall estate agents who recommend two or three Forest Hall conveyancing firms purely based on those lawyers offering a great service.