My wife and I are planning to buy a flat in Maryland and are in fact using a Maryland conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Godiva Mortgages Ltd have this evening contacted us to advise us that they have now hit a problem as our Maryland conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Maryland solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can I use your services to recommend a Conveyancing solicitor in Maryland even where I’m not buying or selling a house, for instance where I want to acquire a shop in Maryland with a loan from Accord Mortgages Ltd?
The service is mainly used to help choose residential conveyancing solicitors in Maryland but we have set out towards the end of this page a selection of Maryland commercial conveyancing firms. You should make contact with the company directly to establish if they are also authorised to represent Accord Mortgages Ltd
My wife and I are purchasing a apartment in Maryland. I might seem paranoid but how we can trust a solicitor? At some point we will need to deposit funds into their account. What is the protection we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I am assisting my niece sell her flat in Maryland. Will the conveyancer order the energy assessment or should I organise this?
After the abolition of Home Packs, energy performance certificates was left as a required element of moving property. An energy assessment needs to be commissioned in advance of the property being placed on the market. This is not as aspect of the sale process that lawyers normally arrange. Where you are instructing a Maryland conveyancing practitioner they may be willing to arrange EPC’s given their contacts with long established local assessors
Are all Maryland Conveyancing Quality Solicitors on the Coventry BS conveyancing panel?
It is true that some 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 remain on their panels.
I am purchasing my first flat in Maryland with a loan from Platform Home Loans Ltd. The builders refused to budge the amount so I negotiated £7000 of extras instead. The property agent told me not to tell my solicitor about the deal as it would adversely affect my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I need to instruct a conveyancing solicitor for some conveyancing in Maryland. I've stumble upon a web site which looks to be the perfect solution If it is possible to get all formalities completed via phone that would be preferable. Should I be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I own a leasehold flat in Maryland. Conveyancing and Virgin Money mortgage went though with no issue. I have received a letter from someone saying they have taken over the freehold. It included a ground rent demand for rent dating back to 1994. The conveyancing solicitor in Maryland who acted for me is not around. Do I pay?
The first thing you should do is make enquiries of HMLR to make sure that this person is indeed the new freeholder. You do not need to incur the fees of a Maryland conveyancing firm to do this as it can be done on-line for £3. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
I have given up trying to purchase the freehold in Maryland. Can the Leasehold Valuation Tribunal adjudicate on premiums?
Where there is a absentee landlord or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to make a decision on the premium.
An example of a Lease Extension case for a Maryland premises is 151A Ham Park Road in May 2010. The matter came before the Tribunal by way of a vesting order made on 12 June 2009 Deputy District Judge Coonan in Bow County Court. The tribunal decided that the sum payable for the m to be paid for the lease extension was £21,445 This case related to 1 flat.