My fiance and I are hoping to buy a flat in Milton and have instructed a Milton conveyancing firm. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. National Westminster Bank have this afternoon contacted us to inform me that there is now an issue as our Milton conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the mortgage company. 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 Accreditation Scheme. Your property lawyer should contact your bank 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 as you are at liberty to use your preferred Milton lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Do the conveyancing lawyers identified via your search tool carry out attended exchange conveyancing in Milton?
There are a few conveyancing experts carrying out personalised exchanges. You should contact us to receive a fee calculation and details as to availability.
I am expecting a OIP from Virgin Money this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Milton solicitors on the Virgin Money conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Milton solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I have decided to exercise my right to buy my property in Milton off the council. I have a mortgage agreed with Leeds Building Society. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have 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 Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
Completion of my remortgage has taken place for my property in Milton. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
Almost all lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. We understand that complaints to a lender are sorted out effectively and efficiently. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service with full details of your complaint.
My partner and I are selling our property in Milton and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A local conveyancer would know that there is no such problem. It does beg the question why the buyers used an online conveyancing practice rather than a conveyancing solicitor in Milton. Having lived in Milton for many years we know of no issue. Do we contact our local Authority to obtain confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Just bought a terraced house in Milton , how long should it take for the Land Registry to record the transfer to my name? My Milton conveyancing solicitor has been painfully slow, so I want to be certain the registration is concluded.
There is nothing unique about conveyancing in Milton registration formalities. Rather than based on location, timescales can vary according to the party submitting the application, whether it is in order and if the Land registry must send notices to any interested parties. Currently approximately three quarters of such applications are completed within two weeks but occasionally there can be protracted hold-ups. Registration takes place after the purchaser has moved in to the property therefore post completion formalities is not usually top priority yet if it is urgent that the the registration takes place urgently then you or your lawyers can communicate with the Registry to express the reasoning for the application to be prioritised.
I have been on the look out for a ground for flat up to £195,000 and identified one near me in Milton I like with amenity areas and railway links nearby, the downside is that it's only got 51 remaining years left on the lease. I can't really find anything else in Milton for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a home loan that many years will likely be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor regarding this.