Much to our surprise we have been informed by our lender that my Gwernaffield property lawyer is not on the mortgage company Conveyancing panel. What can I do to be certain if this is indeed the case?
The sensible course of action for you to take is to call your Gwernaffield lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may recommend you to a Gwernaffield conveyancing practice that is on the approved list of lawyers for your bank.
Do all mortgage companies provide you with an approved list of Gwernaffield conveyancing solicitors? How do you know who is on the Virgin Money conveyancing panel?
Gwernaffield conveyancing firms themselves provide us confirmation that they are on the Virgin Money conveyancing panel as opposed to being supplied with a list from Virgin Money directly.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Gwernaffield. 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 HSBC, pay off the mortgage. Is this possible?
Where you intend to refinance then HSBC will insist on your using 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 just acquired a house at auction in Gwernaffield. Conveyancing is needed. What are my next steps?
Given that you are now legally bound yourself to purchase you will need to instruct a conveyancing lawyer as a matter of priority as you will have a tight a fixed date to complete the transaction. All auction property will ordinarily have a bespoke auction set of papers. This should include most,if not all of the documents that your solicitor will need. In the case of leasehold premises the conveyancing papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must pass this on to your appointed conveyancing solicitor as soon as possible. You also need to ensure that that you have the requisite funding in place to complete the transaction on the set completion date.
I had an offer accepted on a property in Gwernaffield on 16/2/2024, valuation was booked 2 days after, received a clean bill of health. Conveyancer instructed, so the only thing outstanding was my mortgage offer. Having made daily calls to Leeds Building Society and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Leeds Building Society conveyancing panel. Are Leeds Building Society entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've read lots 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 Gwernaffield solicitor - who is on the Bank of Ireland conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland 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 lawyer 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 Gwernaffield postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Gwernaffield.
I am purchasing my first flat in Gwernaffield with a loan from Barclays . The developers refused to reduce the price so I negotiated £7000 of fixtures and fittings instead. The house builders rep advised me not reveal to my lawyer about this deal as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Do banks and building societies provide you with an approved list of Gwernaffield solicitors? How do you know who is on the bank conveyancing panel?
Gwernaffield law firm practices and firms conducting conveyancing in Gwernaffield themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the lender directly.