My IFA requires my Penzance solicitor’s panel reference for the Santander conveyancing panel. What is the best way to discover this. I have called my local Penzance office but they cant find it on their system.
You are best placed to get this information from your Penzance conveyancing practitioner . Most Penzance law practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Kent Reliance Solicitor panel ahead of completing my conveyancing in Penzance?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I have today made my last payment due on my mortgage with Nationwide. I assume I don't need a Penzance conveyancer on the Nationwide panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Nationwide mortgage from the register. Nationwide, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
It is unclear whether my mortgage offer requires a lease extension. I have telephoned my Penzance building society branch on various occasions and was informed it wasn't a problem and they will lend. My Penzance conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they would not lend in accordance with their specific requirements. Who do I believe?
The conveyancing practitioner must follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
After weeks of negotiation I have agreed a price on a house in Penzance. My mortgage broker recommended their conveyancers. I paid an advanced payment of £225. Soon after, the property lawyer contacted me embarrassingly acknowledging that they were not on the Aldermore conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Aldermore panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I'm purchasing a new build house in Penzance with a mortgage from Virgin Money. The sellers refused to move on the price so I negotiated five thousand pounds worth of additionals instead. The sale representative advised me not inform my solicitor about the deal as it will put at risk my mortgage with Virgin Money. 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 decided to have a survey done on a property in Penzance before appointing solicitors. I have been informed that there is a flying freehold aspect to the house. Our surveyor advised that some lenders may refuse to issue a loan on this type of house.
It depends who your proposed lender is. Santander has different requirements for example to Halifax. Should you wish to call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Penzance. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Penzance to see if the conveyancing will be more expensive.
I need to instruct a conveyancing solicitor for residential conveyancing in Penzance. I have discover a site which seems to have the perfect answer If there is a chance to get all formalities done via email that would be ideal. Should I be wary? What are the potential pitfalls?
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?