Me and my fiance are hoping to buy a 2 bedroom flat in Woolton with a mortgage. We would like to retain our Woolton lawyer, but the bank advise she’s not on their "panel". It seems we have little option but to use one of the bank panel conveyancing practices or retain our Woolton conveyancing practitioner and pay for one of their panel ones to act for them. We feel that this is inequitable; is there anything we can do?
No, not really. Your mortgage offer 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. A further alternative is for your Woolton conveyancing solicitor to apply to be on the conveyancing panel.
I am considering applying for a Nationwide mortgage for purchase of a new build (under development) in Woolton with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Are all Woolton Conveyancing Quality Solicitors on the Kent Reliance conveyancing panel?
Some major banks and building societies now use 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 CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Completion of my purchase has taken place for my property in Woolton. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. Who do I contact should I wish to lodge a complaint?
Most banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
I have finally had an offer on a maisonette in Woolton agreed to, but there is a chain. The sellers have offered on on an apartment, however it’s not yet agreed to, and have viewings of other apartments in the pipeline. I have selected a nearby conveyancing solicitor in Woolton. What should be my next step? At what point do I apply for the mortgage with Virgin Money?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx one thousand pounds, then survey, Woolton conveyancing search fees, etc). First, you should ensure that your solicitor is on the Virgin Money approved list. As to the subsequent phase this very much dictated by the circumstances of your case, attraction to this property and on the state of the market. In a rising market the majority of buyers would apply for the mortgage with Virgin Money and arrange for the valuation and only if it was satisfactory would they request their lawyer to proceed with searches.
What will a local search inform me regarding the property my wife and I purchasing in Woolton?
Woolton conveyancing often commences with the applying for local authority searches directly from your local Authority or through a personal search organisations for example Onsearch The local search is essential in every Woolton conveyancing purchase; that is if you wish to avoid any nasty once you have moved into your property. The search should reveal information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject areas.
I was advised by three or four local estate agents in Woolton to find a property lawyer on your site. Is there a financial incentive for Estate Agents to recommend your lawyers over and above a competitor’s?
We refuse to offer any referral fee for pointing buyers and sellers in our direction. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why aren’t I getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
I am an executor of my recently deceased mother’s Will, with a house in Woolton which will be sold. The bungalow is unregistered at HMLR and I'm advised that some purchasers will insist that it is in place before they will proceed. What's the mechanism for this?
In the situation that you have set out it seems sensible to apply to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.