I am obtaining a mortgage offer from Santander. I intend to retain the legal services of a Licensed Conveyancer in Hereford. Does the Santander Solicitor panel allow for Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Some advice if I may. My Hereford lawyer is advising me that he is legally obliged toconduct Hereford conveyancing searches resulting from the fact thatthe firm are on the Santanderconveyancing panel. Do I not have any options here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a mortgage company your conveyancing practitioner has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the CML Handbook specifications . Even if you were a cash buyer you would be ill advised not to carry out Hereford conveyancing searches.
I happen to be the only beneficiary of my late grandmother’s will and I have everything in my name alone, including the house in Hereford. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my property ownership will be considered the same way as if I'd bought the house in March. Will no one buy the property for half a year?
The CML handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many lenders would take a practical view as this obligation is chiefly there to identify subsales or the wholesaling and assigning of properties.
I am currently in the process of buying my council flat in Hereford. I have a mortgage agreed with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
I have a mortgage with Principality for my property in Hereford. Conveyancing has been completed a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Principality?
You must advise Principality in advance of renting your property as this is likely to be a breach of Principality’s mortgage conditions. It may be that Principality will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Principality directly. You need not do this via a Principality conveyancing panel solicitor.
Just had an offer accepted on a new build apartment in Hereford. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Hereford
-
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are surveyor prepared. Please supply a car parking plan. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I have been advised by a number of estate agents in Hereford to get a quote from a solicitor on your site. What’s the financial incentive for Estate Agents to recommend your site ahead of alternative conveyancing organisations?
We refuse to make any financial incentive for pointing buyers and sellers our way. We thought it would be too underhand a fee as a client could think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
Our solicitor in Hereford has discovered a a problem with the lease for the flat we are buying in Hereford. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor says that as he is on the mortgage company conveyancing panel he must be satisfied that the lender is happy with this solution. Who is the client here, us or the mortgage company?
Just because you have a mortgage offer from the bank does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Hereford conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the lender are the client. The appropriate lender requirements have to be complied with by the lender conveyancing panel who has to balance acting for you and the mortgage company