My financial adviser has asked me for my Saltash solicitor’s panel reference for the Santander conveyancing panel. Can you suggest how I obtain this. I have tried my local Saltash branch but they don't know it.
You are best placed to get this information from your Saltash lawyer . Most Saltash 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.
We wanted to use a conveyancing solicitor in Saltash for our house purchase. Our financial adviser informed us that our mortgage lenders Skipton Building Society won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most lenders had a different appetite for risk. Almost all Saltash conveyancing firms would have been on most bank panels. The financial services regulator in 2010 completed a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms about their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum volume of transactions. Many Saltash conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Saltash is amongst the many locations where the conveyancers showing on our search results are on the panel for Skipton Building Society.
Have just purchased a repossessed house at auction in Saltash. Conveyancing is necessary. What is next?
Having exchanged you should appoint a conveyancing solicitor quickly as you now have a tight a fixed date to complete the conveyancing. All auction property will ordinarily have a corresponding legal set of papers. This will likely include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold property the conveyancing papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to a leasehold property. You should hand this to the solicitor instructed by you at the earliest opportunity. You also need to ensure that you have funds organised to complete the transaction on the set completion date.
When it comes to mortgage companies such as Nottingham, do Saltash conveyancing practitioners have to pay an annual charge to be on the conveyancing panel?
We are not aware of any bank fees to be on their panel, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
Two weeks ago we had a mortgage agreed in principle with Skipton. Saltash conveyancing practitioners are appointed. How long does it take for Skipton to send the offer to the lawyer?
Some lenders take longer than others. Have Skipton done the valuation? Have you advised Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
five months have elapsed following my purchase conveyancing in Saltash completed. 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 premises 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 element on a property I have offered on two weeks back in what was supposed to be a simple, chain free conveyancing. Saltash is the location of the property. Is there any guidance you can give?
Flying freeholds in Saltash are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Saltash you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Saltash may ascertain 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.
I need to retain a conveyancing solicitor for some conveyancing in Saltash. I happened to stumble upon a web site which looks to be the ideal solution If there is a chance to get all formalities completed via phone that would be ideal. Should I be concerned? 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?