Unfortunately I am unable to travel far from Llanarmon Yn Ial. Please explain the reason why all Llanarmon Yn Ial conveyancing practitioners are not on all mortgage company panels?
As inequitable as it may seem for lenders to restrict who can act for them, from the public’s or conveyancer’s standpoint, the flip side is that banks are increasingly anxious and feel it necessary to protect them against mortgage fraud. As a result of this concern mortgage companies have consolidated their conveyancing panel to a size that they are happy to control.
My uncle passed away 10 months ago and as sole heir and executor I was left the house in Llanarmon Yn Ial. The house had a small mortgage left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to Co-operative, pay off the mortgage. Is this allowed?
Given you intend to re-mortgage then Co-operative will insist on your using a conveyancer on the Co-operative 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 Co-operative 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 Co-operative mortgage is registered as a charge at the Land Registry.
This question may be naive but I am new to the home moving as FTB of a two bedroom flat in Llanarmon Yn Ial. 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 Llanarmon Yn Ial?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the vendor’s lawyers, and shortly after the monies have arrived, you should be invited to receive the keys from the property Agents and start moving into the property. This tends to happen early afternoon.
When it comes to lenders such as Kent Reliance, do Llanarmon Yn Ial conveyancers have to pay a fee to be on the conveyancing panel?
We are not aware 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 application.
Santander have agreed my mortgage in principle, my bid on a apartment in Llanarmon Yn Ial has been agreed to, what happens next?
The property agent will need to be informed of your solicitor's details (make sure the solicitors are on the bank’s panel). Telephone Santander or the broker and complete any appropriate forms. Santander will appoint a valuer who will get in touch with the selling agent or owners to book a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Santander will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Llanarmon Yn Ial.
Due to the advice of my in-laws I had a survey completed on a property in Llanarmon Yn Ial before retaining lawyers. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will refuse to grant a mortgage on a flying freehold premises.
It depends who your proposed lender is. HSBC has different instructions from Halifax. Should you wish to telephone us we can check via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Llanarmon Yn Ial. Conveyancing may be slightly more expensive based on your lender's requirements.
We are 3 weeks into a leasehold purchase having been directed to conveyancers by the local agent to do our conveyancing in Llanarmon Yn Ial. I am not happy. Can you help me find new conveyancers?
A conveyancer would have to be very poor in order to consider replacing them. Has the mortgage been sent? In the event that it has you must inform them of the new contact details and ensure the loan are re-sent. The solicitor ideally needs to be on the mortgage company panel to avoid escalating expenses and complications. That should be your first question of the new lawyers. The search tool will assist you in finding a lender approved lawyer for your conveyancing in Llanarmon Yn Ial
Our solicitor in Llanarmon Yn Ial has discovered a a legal deficiency with the lease for the apartment we are purchasing in Llanarmon Yn Ial. The seller’s lawyers have offered defective title insurance as a workaround. We are content with insurance and will cover the costs. Our lawyer 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 lender?
Just because you have a mortgage offer from the mortgage company does not mean to say that the property will be meet their requirements for the purposes of a mortgage. Your Llanarmon Yn Ial conveyancing lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook Requirements. You and the bank are the client. The appropriate lender requirements must be adhered to by the bank conveyancing panel who has to balance acting for you and the mortgage company