I can't travel far from Norris Green. I would like to know the reason why all Norris Green conveyancers are not on all mortgage company panels?
Banks tend to restrict either the type or volume of conveyancing practices on their panel. A common example of such restriction(s) being that a organisation is required to have two or more partners. In addition to restricting the structure of firm, some have decided to reduce the size of their panel they permit to represent them. You should note that banks have no liability for the quality of service provided by any Norris Green property lawyer on their approved list. Property fraud was the key driver in the rationalisation of conveyancing panels a few years ago notwithstanding that there are differing opinions concerning whether solicitors sat at the center of that fraud. Data via the Land Registry indicates that thousands of law firms only transact less than three conveyances a year. Those supporting conveyancing panel cuts question why law firms should have the right to remain on a conveyancing panel when it is apparent that property law is not their primary expertise?
I am acquiring a house for cash in Norris Green. I have resided for the last Seventeen years in Norris Green. Conveyancing searches are a lot of money. Given that I know the area and road intimately must I have all the conveyancing searches?
If you not getting a mortgage, then all but one or two of the Norris Green conveyancing searches are at your discretion. Your conveyancer will try and sway you, no-doubt strongly, that you should have searches completed, but he is duty bound to do this. Do consider; if you are intend to sell the house in the future, it will be of relevance to your future buyer what the searches disclose. Sometimes properties with functional issues can still show up adverse search results. A good conveyancing solicitor in Norris Green should be able to give you some sensible guidance here.
Is it necessary during the course of the conveyancing process to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Norris Green so that I can attend their offices when needed.
As opposed to twenty years ago, most banks no longer require their conveyancing panel solicitor to witness the mortgagors signature. It will still be necessary for you to provide identification documents and there are still manifest benefits to using a local solicitor, in your situation a conveyancing solicitor in Norris Green.
I happen to be the only recipient of my late mum's will and I have everything in my name now, including the my former home in Norris Green. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership could be considered the same way as though I had purchased the property in July. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view banks take of it, depend on the mortgage company as this clause principally exists to capture the purchase and immediately sell or the quick reselling of properties.
I have a mortgage with Bank of Ireland for my property in Norris Green. Conveyancing was finalised some time ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Bank of Ireland?
Bank of Ireland must be informed of your intention before letting out your property as this is likely to be a breach of Bank of Ireland’s mortgage conditions. It may be that Bank of Ireland 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 Bank of Ireland directly. It should not be necessary to do this via a Bank of Ireland conveyancing panel lawyer.
About to purchase house in Norris Green. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Lloyds conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Norris Green property lawyer is on the Lloyds conveyancing panel.
It has been four months since my purchase conveyancing in Norris Green concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Norris Green is where the house is located. Can you shed any light on this issue?
Flying freeholds in Norris Green are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Norris Green you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Norris Green may decide 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 property.