My wife and I are planning to buy a 2 bedroom apartment in Leamington Spa with a mortgage. We have a Leamington Spa conveyancer, but the bank advise she’s not on their "panel". It seems we have little choice but to use one of the bank panel solicitors or retain our Leamington Spa conveyancing practitioner and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Leamington Spa conveyancing solicitor to apply to be on the conveyancing panel.
Last August we completed a house move in Leamington Spa. We have noticed several problems with the house which we believe were omitted in the conveyancing searches. Do we have any recourse? What searches should? have been conducted for conveyancing in Leamington Spa?
It is not clear from the question as what problems have arisen and if they are specific to conveyancing in Leamington Spa. Conveyancing searches and investigations undertaken during the legal transfer of property are carried out to help avoid problems. As part of the process, the vendor completes a questionnaire referred to as a SPIF. If the information is misleading, you could possibly take legal action against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Leamington Spa.
We're in Leamington Spa, First timers buying with a mortgage (lender is Nationwide , and our solicitor is on the Nationwide conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nationwide conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I am the only recipient of my late grandmother’s estate with all property in now in my sole name, including the my former home in Leamington Spa. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship will be treated the same way as if I'd bought the house in September. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be caught by that. How practical a view lenders take of it, depend on the lender as this provision primarily exists to capture subsales or the wholesaling and assigning of properties.
Are all Leamington Spa Conveyancing Quality Solicitors on the Clydesdale conveyancing list of approved solicitors?
Some major banks and building societies now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I have paid off my mortgage with Co-operative. I assume I don't need a Leamington Spa conveyancing practitioner on the Co-operative panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative 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 Co-operative mortgage from the register. Co-operative, 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 Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
About to purchase a new build apartment in Leamington Spa. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Leamington Spa
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply a car parking plan.
Due to the guidance of my in-laws I had a survey completed on a house in Leamington Spa before appointing lawyers. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks tend refuse to issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. Should you wish to call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Leamington Spa. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Leamington Spa to see if the conveyancing will be more expensive.