We are about to sign contracts for a leasehold flat in Yarm. We have hit a problem. The loan offer with Lloyds TSB Bank expires on 16/12/2021 but the sellers are putting forward a completion date of 20/12/2021. Is it possible to extend the mortgage offer?
The best person to address this issue is your lawyer who will hopefully determine if he or she is better off negotiating with the mortgage broker, seller’s solicitors, property agents or possibly all parties given the history of your conveyancing to date.
We wish to acquire a 2 bedroom flat in Yarm with a homeloan from Chelsea Building Society.We use our Yarm conveyancing solicitor but Chelsea Building Society informed us he's not on their approved list of member firms. we are left little option but to use a Chelsea Building Society panel lawyer or keep our high street solicitor and fork out for a Chelsea Building Society panel lawyer to represent them. We feel as though this is unjust; Can we not simply insist that Chelsea Building Society use our lawyer?
No, not really. The home loan offered to you contains various provisions, a common one being that conveyancers needs to be on the Chelsea Building Society solicitor panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could find 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 solicitors to apply to be on the conveyancing panel for Chelsea Building Society
I require expedited conveyancing in Yarm as I am faced with pressure to complete in less than 4 weeks. Thankfully I do not need a mortgage. Can I avoid the conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you are at liberty not to have searches conducted although no solicitor would advise that you don't. Drawing on years of experience of conveyancing in Yarm the following are instances of issues that can be revealed and therefore affect market value: Enforcement Actions, Outstanding Fees, Outstanding Grants, Railway Schemes,...
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a quick, no chain conveyancing. Yarm is where the house is located. Is there any advice you can impart?
Flying freeholds in Yarm are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Yarm you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yarm may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I am looking for a conveyancing solicitor in Yarm for my house move. Is it possible to review a firm’s record with the profession’s regulator?
Members of the public can read presented Solicitor Regulator Association (SRA) decisions stemming from inquisitions commenced on or after Jan 2008. Visit Check a solicitor's record. To find information about the period before 1 January 2008, or to check a solicitors record, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, call +44 (0)121 329 6800. The regulator sometimes recorded call for training requirements.
I have checked your search tool I can't find the lawyer I was hoping to instruct as being on the lender conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the mortgage company conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the bank solicitor panel.