I have just been advised by my IFA that my Thornhill property lawyer is not on the mortgage company Conveyancing panel. What can I do to be sure if this is correct?
The sensible course of action for you to take is to call your Thornhill conveyancer. You lawyer should notify you what has happened. If they are not on the panel they may be able to suggest a Thornhill conveyancing firm that is on the approved list of lawyers for your bank.
Do the conveyancing lawyers revealed via your ’find a lawyer’ tool carry out right to buy conveyancing in Thornhill?
We have identified plenty of conveyancing experts who can handle right to buy conveyancing Do e-mail us to secure a conveyancing quote.
I'm the single beneficiary of my late mum's will and I have everything in my name alone, including the my former home in Thornhill. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship may be regarded the same way as though I had purchased the house in March. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. How practical a view lenders take of it, depend on the bank as this clause is chiefly there to identify the purchase and immediately sell or the flipping of property.
We are getting the release of further funds on our home loan from RBS as we want to conduct alterations to our property in Thornhill. Are we obliged to appoint a local Thornhill solicitor on the RBS conveyancing panel to deal with the legals?
RBS would not normally instruct a member of their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
I was told two weeks ago that my mortgage has been agreed to by Principality. Is it usual for Principality to only issue the offer once my solicitor in Thornhill is approved on their conveyancing panel? Principality have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Principality to deal with your lawyer's application to be on the Principality conveyancing panel. There's no guarantee that your solicitor will be accepted.
I am buying a new build flat in Thornhill. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Thornhill
Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
In relation to leasehold conveyancing in Thornhill what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Thornhill. All leases are drafted differently and legal mistakes in the legal wording can result in certain clauses are erroneous. For example, if your lease is missing any of the following, it could be defective:
Maintenance charge proportions which don’t add up to the correct percentage
You could have a problem when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Halifax, The Mortgage Works, and Alliance & Leicester all have express conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, obliging the buyer to withdraw.
Thornhill Conveyancing for Leasehold Flats - Sample of Questions you should consider Prior to buying
Please note if it is no more than eighty years it will affect the salability of the flat. It is worth checking with your mortgage company that they are happy with remaining years on the lease. Leases with less than 80 years remaining means that you will most likely need a lease extension at some point and it is worth discovering how much this will be. Remember, in most cases you will be required to have owned the premises for two years in order to be entitled to exercise a lease extension. Are there any major works in the near future that will likely increase the maintenance costs? Make sure you discover if there is anything that is prohibited in the lease. By way of example it is very common in Thornhill leases that pets are not permitted in in a block in Thornhill. If you love the propertyin Thornhill yet your dog is not allowed to move with you then you will be presented with a hard decision.
My work colleague mentioned that before choosing a conveyancing firm they need approved by your mortgage company. I am novice purchaser but I have an AIP with Nat West Bank and I already have a local conveyancing solicitor in Thornhill on standby. Does Birmingham Midhshires need an approved conveyancer to be used? If so, where do I find that list for my conveyancing in Thornhill?
You should choose a solicitor that is on the Birmingham Midhshires panel. Just ring your chosen Thornhill conveyancing lawyer and ask if they are on the Birmingham Midhshires panel. If they are not on the panel you have a couple of choices available to you here:
- Carry on with your preferred Thornhill property lawyer but Birmingham Midhshires will undoubtedly use a solicitor on their approved panel. This will result in additional cost and likely delay.
- Appoint a new solicitor to act in the purchase, obviously checking they are on the Birmingham Midhshires conveyancing panel.
- Convince your property lawyer to do everything within their powers to join the Birmingham Midhshires panel of solicitors.