I had intended to instruct a conveyancing solicitor in Penistone for our house purchase. Our financial adviser has since notified us that our mortgage company Yorkshire Building Society won't deal with them. Why is this not regarded as unduly restrictive?
A decade ago most mortgage companies had an appetite for risk which was higher than today. Almost all Penistone conveyancing firms would have been on many lender panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more information from law firms about their operations and their employees as well as set certain criteria such a completing on a minimum volume of transactions. Many Penistone conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Penistone is one of the numerous areas where the conveyancers we recommend are are authorised to act for Yorkshire Building Society.
What is the difference between a licensed conveyancer and conveyancing solicitor in Penistone
There are many recorded licenced Conveyancers in Penistone and Solicitor firms in Penistone offering conveyancing We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in transferring property. The two can conduct associated property related work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
Two weeks ago we had a mortgage agreed in principle with Lloyds. Penistone conveyancing practitioners were selected. What is the average time that one could expect to receive a mortgage offer from Lloyds?
There is no definitive answer here. Have Lloyds done the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have instructed a Penistone property lawyer having checked that they are on the Santander conveyancing panel. Does my lawyer arrange the survey of the property?
Santander will need an independent valuation of the property. Your lawyer will not arrange this. Usually Santander will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Penistone postcode. As you are getting a mortgage with Santander, you could contact them to see if they have a list of approved surveyors in Penistone.
Various online forums that I have visited warn that are the primary reason for obstruction in Penistone house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Penistone.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a straight forward, chain free conveyancing. Penistone is the location of the property. Can you shed any light on this issue?
Flying freeholds in Penistone are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Penistone you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Penistone 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 residence.
I'm refinancing my current property to a BTL loan with Clydesdale and intend to use the remaining equity as a deposit on further house. The location we are interested in is Penistone. Will your conveyancers be able to act for the two lenders and link together the conveyances?
Do use our comparison tool on this site to ensure that the lawyers are approved by both mortgage companies. Assuming that they are your conveyancer will be able to simultaneously deal with the two transactions but you should have a chat with you lawyer and make apparent your desired outcome and needs.
I need to instruct a conveyancing practitioner in Penistone for my house move. Can I check a solicitor's complaints history with the legal regulator?
Anyone may read presented Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. To find details Pre 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The SRA could monitor telephone calls for training purposes.