I am selling my flat in Yelverton and the estate agent has just text me to warn that the purchasers are appointing a new law firm. The reason given is that the bank will only work with solicitors on their approved list. Why would a major mortgage company only engage with specific solicitors rather the firm that they want to select to handle their conveyancing in Yelverton ?
UK lenders have always had panels of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Mortgage companies point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
My grandmother passed away 10 months ago and as sole heir and executor I was left the house in Yelverton. The house had a relatively small loan remaining of approximately £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Yorkshire BS, pay off the mortgage. Is this possible?
Where you intend to refinance then Yorkshire BS will insist on your using a conveyancer on the Yorkshire BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Yorkshire BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Yorkshire BS mortgage is registered as a charge at the Land Registry.
I am due to move property in January. Should my conveyancing solicitor call the removal company on the completion day. As an aside, can you suggest a removal company in Yelverton. Conveyancing lawyer was chosen before I stumbled across your website.
On the afternoon of completion you can collect the house keys from the selling agent but this can only be done when the vendors conveyancers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be collected. You will need to advise the removal company that they can start moving you in. We are not in a position to suggest a specific removal organisation but can help you locate a conveyancing in Yelverton or a firm that specialises in conveyancing in Yelverton.
We previously instructed solicitors located in Yelverton on the Virgin Money solicitor approved list. They are now charging me a further amount for the legal aspects of the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your conveyancing practitioner can charge a fee for this. This charge is not dictated by Virgin Money but by your Yelverton solicitor. Some firms on the Virgin Money panel will quote ’dealing with mortgage’ fee and others do not.
I have paid off my mortgage with Santander. I assume I don't need a Yelverton lawyer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander 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 Santander mortgage from the register. Santander, 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 Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
What will a local search inform me regarding the property I am purchasing in Yelverton?
Yelverton conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for example Xpress Legal The local search is essential in every Yelverton conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should provide data 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 topic sections.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Yelverton is the location of the property. Can you shed any light on this issue?
Flying freeholds in Yelverton are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Yelverton you would need to get your solicitor to go through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Yelverton 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.
My business partner and I are wishing to lease a unit on a shopping parade. Can you recommend conveyancers offering fixed costs for non-domestic conveyancing in Yelverton for under £1,200?
We can recommend firms who have well rounded knowledge of commercial conveyancing in Yelverton, including the sale and purchase of businesses as well as simply premises. If you are looking to purchase or sell a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right solicitor. Regarding the charges these will vary based on the structure and complexity of the proposed transaction. Let us have your details or phone us so that we can provide you with comprehensive commercial conveyancing quote.