Unfortunately I am unable to travel far from Ottery St Mary. I would like to know the reason why all Ottery St Mary solicitors are not on all mortgage company panels?
Even though it may seem unfair for mortgage companies to restrict who can act for them, from the public’s or solicitor’s viewpoint, the the contrary view is that mortgage companies are becoming ever more anxious and regard it necessary to protect them from mortgage fraud. As a consequence of this concern mortgage companies have consolidated their conveyancing panel to a size that they are happy to control.
I am selling my apartment in Ottery St Mary. Will the solicitor need to be required to be on the Co-operative conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Co-operative conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently at the moment.
Forgive me if this question is silly but I am new to the home moving as FTB of a ground floor flat in Ottery St Mary. Do I pick up the keys to the house on completion from my lawyer? If this is the case, I will find a local conveyancing solicitor in Ottery St Mary?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the vendor’s conveyancers, and shortly after the monies have arrived, you should be invited to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
Completion of my remortgage has taken place for my property in Ottery St Mary. Conveyancing was of an acceptable standard but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
All banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. In most cases complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
My offer was accepted on a property in Ottery St Mary on 28/4/2021, valuation was booked 2 days later, received a clean bill of health. Conveyancer retained, so the only thing outstanding was my mortgage offer. Having made daily calls to Lloyds and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Lloyds conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will our solicitor be raising enquiries regarding flooding during the conveyancing in Ottery St Mary.
Flooding is a growing risk for lawyers dealing with homes in Ottery St Mary. Plenty of people will buy a house in Ottery St Mary, fully aware that at some time, it may be flooded. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous checks that may be initiated by the buyer or on a buyer’s behalf which will give them a better appreciation of the risks in Ottery St Mary. The standard completed inquiry forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a standard question of the owner to discover if the property has ever been flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer may commence a legal claim for losses as a result of such an incorrect response. A purchaser’s conveyancers should also carry out an enviro search. This will disclose if there is any known flood risk. If so, further inquiries should be carried out.
I'm buying my first flat in Ottery St Mary with a mortgage from Accord Mortgages Ltd. The developers refused to reduce the amount so I negotiated five thousand pounds worth of extras instead. The estate agent advised me not reveal to my solicitor about the side-deal as it may jeopardize my mortgage with the lender. Is this normal?.
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 have recently had an offer accepted on a leasehold flat in Ottery St Mary and the mortgage adviser that we are dealing with recommended his property lawyer. He quoted £900 including VAT and disbursements. Does this sound expensive?
You should not rely on 1 estimate. You should seek like-for-like quotes for your conveyancing in Ottery St Mary. Then select one that you trust and crucially, is on the approved list of the mortgage company that you have applied for a mortgage from.