I am hoping to receive a mortgage with Santander. I intend to retain the legal services of a Licensed Conveyancer in Temple. Does the Santander Conveyancing panel exclude Licensed Conveyancers?
The Santander approved solicitor list is, like many other lenders, associated to the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We were just about to sign contracts for a ground floor flat in Temple. We have hit a stumbling block. The loan offer with Bank of Ireland runs out on 31/3/2023 but the owners are insisting on a completion date of 4/4/2023. Is it possible to extend the loan offer?
The person best placed to address this question is your conveyancer who will hopefully calculate whether he or she is corresponding with the mortgage company, owner’s lawyers, property agents or conceivably all three given the history of your house move to date.
Will conveyancers ask for money on account when it comes to conveyancing in Temple?
Where you are retaining lawyers for conveyancing in Temple your solicitor will ask you to provide them with monies to cover the the cost of the conveyancing searches. Generally this is asked for to cover the fees of the conveyancing searches. If any deposit is payable against the purchase price then this will be needed shortly prior to contracts are exchanged. The closing balance that is needed should be sent to your lawyer shortly before completion.
Is it the case that all Temple CQS (Conveyancing Quality Scheme) solicitors are on the Principality conveyancing list of approved firms?
It is true that some banks and building societies now make use of the accreditation scheme as the starting point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
We have agreed to purchase a house in Temple. An unusual aspect is that the roof has a solar panel. Co-operative have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Co-operative your lawyer must follow the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Co-operative. The CML Handbook includes minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Co-operative where a lease fails to comply with these provisions. The conditions relate to the installation of panels on properties nationwide and is not restricted to Temple.
I have paid off my mortgage with TSB. I assume I don't need a Temple conveyancing practitioner on the TSB panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I am buying my first flat in Temple benefiting from help to buy. The sellers would not reduce the price so I negotiated £7000 of additionals instead. The house builders rep told me not inform my solicitor about this deal as it would affect my mortgage with Godiva Mortgages Ltd. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer 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.
Due to the guidance of my in-laws I had a survey completed on a property in Temple before retaining conveyancers. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some banks will not give a loan on this type of house.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Temple. Conveyancing will be smoother if you use a solicitor in Temple especially if they regularly deal with such properties in Temple.