My IFA says he needs my Ramsey solicitor’s panel member for the HSBC conveyancing panel. What is the best way to discover this. I have tried my local Ramsey branch but they cant find it on their system.
You are best placed to get this information from your Ramsey property lawyer . They retain a central record lender panel numbers.
The vendors of the property we are looking to purchase are using a conveyancing practitioner in Ramsey who has recommended a exclusivity contract with a deposit two thousand pounds. Are such agreements sensible?
This form of preliminary agreement is unusual in Ramsey, conveyancers are often inclined to direct clients away from them as they detract from focusing on the primary focus, namely conveyancing and if you end up having your deposit forfeited then the lawyer at best left with an upset client and at worst a litigious one. In addition, there is no guarantee that just because the vendor has executed a lock out contract they will complete the sale with you. They may breach the agreement if they receive a big enough financial inducement to do so because a wronged purchaser with the benefit of a exclusivity agreement will still have to show losses as a consequence of the breach and these may not amount to the extra amount that the owner may gain by reneging on the agreement, no matter how morally shameful the behaviour is.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ramsey? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to check the identity of the person or body they are dealing with before they can accept their conveyancing business. The Terms and Conditions that you need to sign will no doubt stipulate this. Your lender will also require certain documents to be viewed. Should you refuse to provide ID verification documents, your lawyer will not be able to take you on as a client.
We are getting the release of further funds on our home loan from TSB as we want to carry out a loft conversion to our home in Ramsey. Do we need to choose a bricks and mortar Ramsey solicitor on the TSB conveyancing panel to handle the paperwork?
TSB do not ordinarily instruct firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB list.
I had a mortgage agreed in principle with Nationwide. Ramsey conveyancing solicitors have been instructed. How long does it take for Nationwide to forward the offer to the lawyer?
Some lenders take longer than others. Have Nationwide completed the valuation? Have you informed Nationwide as to your lawyers' details and checked that your lawyers are on the Nationwide conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have a mortgage with Coventry BS for my property in Ramsey. Conveyancing has been completed a year ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
You must advise Coventry BS before renting your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies 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 Coventry BS directly. You need not do this via a Coventry BS conveyancing panel lawyer.
I am looking for a flat up to £305k and found one near me in Ramsey I like with open areas and station in the vicinity, however it's only got 61 years on the lease. There is not much else in Ramsey in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you require a mortgage that many years will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this matter.
My husband and I are new to the buying process - agreed a price, yet the estate agent informed us that the owners will only move forward if we appoint the agent's preferred solicitors as they need a ‘quick sale’. Our preferred option is to instruct a local conveyancer who is familiar with conveyancing in Ramsey
We suspect that the owner is not behind this ultimatum. Should the seller require ‘a quick sale', taking such a hostile approach to a genuine purchaser is is going to put the whole deal at risk. Try to communicate with the vendors directly and make the point that (a)you are serious purchasers (b)you are ready to progress, with mortgage lined up © you are chain free (d) you intend to proceed fast (e)however you are going to use your preferred Ramsey conveyancing firm - as opposed tothe ones that will give their negotiator at the agency a commission or achieve conveyancing figures pre-set by head office.