I am not in a position to travel far from Shotton. What is the rationale as to why all Shotton solicitors are not on all mortgage company panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in mortgage companies purging less reputable firms from their panel of approved conveyancing practitioners .
Will my conveyancing lawyers need to check that the building insurance when buying a house in Shotton. My lender is Tesco Bank
Tesco Bank have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 26/5/2023, the requirements read as follows :
I am purchasing a property in Shotton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
Given that you are obtaining a mortgage with Barclays your lawyer must follow the formal requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Barclays where a lease fails to satisfy these provisions. The specifications relate to the installation of panels on properties nationwide and is not restricted to Shotton.
After much negotiation I have agreed a price on a house in Shotton. My financial adviser suggested a property lawyer. I paid an on account payment of £200. A couple of days later, the property lawyer called me to say that they were not on the Santander 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 Santander 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.
Lloyds have agreed my mortgage in principle, my bid on a apartment in Shotton has been accepted, now what?
The estate agent will want to know who your solicitors are (be sure the property lawyers are on the lender’s panel). Contact Lloyds or the financial adviser and finish off any relevant paperwork. Lloyds will sellect a valuer who will get in contact with the estate agent or owners to schedule a time for the valuation to take place. Once carried out (assuming no problems) it takes on average a fortnight to receive the mortgage offer. Lloyds will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Shotton.
I have been told that property searches are the main reason for stalling in Shotton house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of research by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in Shotton.
In what way can the Landlord & Tenant Act 1954 affect my business offices in Shotton and how can your lawyers assist?
The 1954 Act provides a safeguard to commercial tenants, granting the right to make a request to court for a new lease and continue in occupation when the lease comes to an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Shotton is one of the hundreds of areas of the UK in which the firms we work with are based
My father-in-law has suggested that I appoint his lawyers for conveyancing in Shotton. Should I choose my own solicitor?
No doubt the ideal way to find a conveyancing solicitor is to get guidance from friends or relatives who have experience in using the solicitor that you are are thinking of instructing.