I have just been advised by my lender that my Ivybridge solicitor is not on the bank Conveyancing panel. How can I be certain if this is indeed the case?
The sensible course of action for you to take is to call your Ivybridge conveyancer. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they may be able to suggest a Ivybridge conveyancing firm that is on the approved list of lawyers for your mortgage company.
We see that you have a post code search directory identifying law firms on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Ivybridge?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Ivybridge.
We wanted to use a conveyancing solicitor in Ivybridge for our house move. Our financial adviser informed us that our bank Nottingham Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Mortgage Companies on the whole restrict either the type or the volume of conveyancing firms on their member panel. Typical examples of such criteria being that a firm must not be a sole practitioner. In addition to restricting the type of firm, a few lenders have reduced the number of firms they allow to represent them. Be aware that Nottingham Building Society have no responsibility for the quality of advice provided by any member of Nottingham Building Society Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels a few years ago even though there are differing opinions concerning the level of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that plenty of law firms, including some in or near Ivybridge only execute one or two conveyances a year.
When it comes to lenders such as Nationwide, do Ivybridge lawyers face a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
Is it the case that all Ivybridge solicitor firms on the Kent Reliance conveyancing panel are governed by the SRA?
As solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Many banks do list licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
I have a mortgage with Kent Reliance for my property in Ivybridge. Conveyancing has been completed 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Kent Reliance?
Kent Reliance must be informed of your intention prior to letting out your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. In many cases banks or building societies 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 Kent Reliance directly. You need not do this via a Kent Reliance conveyancing panel firm.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Ivybridge is where the house is located. Can you shed any light on this issue?
Flying freeholds in Ivybridge are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ivybridge you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ivybridge may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am 18 days into a residential purchase having been referred to conveyancers by the local agent to perform conveyancing in Ivybridge. I am am very dissatisfied with the level of service. Can you you assist me in finding new solicitors?
They would have to be really poor to suggest diss instructing them. Has your loan offer been issued? If so you need to make them aware of the replacement conveyancer and get the offer are re-issued. The solicitor ideally needs to be on the banks panel to avoid supplemental charges and frustration. That should be your starting point. Our search tool can help you find a lender approved conveyancer for your conveyancing in Ivybridge