My husband and I are buying a 1 bedroom flat in Stotfold with a mortgage. We have a Stotfold conveyancer, however the bank advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Stotfold solicitor and pay for one of their panel firms to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Stotfold conveyancing lawyer to apply to be on the conveyancing panel.
I am due to complete buying a property in Stotfold but as a consequence of damage from a small fire at the property I have managed to agree reparation from the current proprietors in the sum of three thousand pounds by way of a reduction in the price. This was going to be addressed as part of a side agreement yet RBS are not allowing this. Why were they approached?
Any lawyer that is on a RBS approved list is duty bound to inform RBS of any changes to the purchase price. If you were to refuse your property lawyer to notify the price change to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancer for your conveyancing in Stotfold.
Forgive me if this question is silly but I am wet behind the ears as a 1st time buyer of a garden flat in Stotfold. Do I collect the keys to the premises on completion from my conveyancer? If so, I will appoint a local conveyancing solicitor in Stotfold?
On the day of completion you will not be required to go to the conveyancers office in Stotfold. Your solicitors will electronically transfer the completion advance to the owner’s solicitors, and once they have received this, you should be called to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
Are all Stotfold Conveyancing Quality Solicitors on the RBS conveyancing panel?
A selection of banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
Two weeks ago we had a mortgage agreed in principle with Yorkshire BS. Stotfold conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Yorkshire BS?
Some lenders take longer than others. Have Yorkshire BS conducted the survey? Have you advised Yorkshire BS as to your lawyers' details and checked that your lawyers are on the Yorkshire BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
five months have gone by since my purchase conveyancing in Stotfold concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £180,000. 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 have been on the look out for a flat up to £245,000 and identified one near me in Stotfold I like with amenity areas and station in the vicinity, however it only has 51 years on the lease. I can't really find anything else in Stotfold in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage that many years will likely be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the premises for a minimum of 2 years you can ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing solicitor about this.
As co-executor for the will of my uncle I am disposing of a residence in Neath but I am based in Stotfold. My conveyancer (based 250 kilometers from meneeds me to sign a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing practitioner in Stotfold who can attest this legal document for me?
Technically speaking you are unlikely to need to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will suffice regardless of whether they are based in Stotfold