I had intended to instruct a conveyancing solicitor in Montgomery for our house move. Our broker has since advised us that our mortgage lenders Clydesdale won't deal with them. Why is this not regarded as unfair competition?
Banks ordinarily restrict either the category or the volume of conveyancing firms on their panel. Typical examples of such criteria being that a law practice must have two or more partners. In addition to restricting the profile of firm, some have decided to limit the number of solicitor practices they allow to represent them. You should note that Clydesdale have no responsibility for the quality of advice provided by any member of Clydesdale Conveyancer Panel. Mortgage fraud was a primary driver in the rationalisation of conveyancing panels since 2008 even though there are differing views about the extent of solicitor engagement in some of that fraud. Figures from the Land Registry reveal that plenty of law firms, including some in or near Montgomery only execute a couple conveyances per annum.
I happen to be the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the house in Montgomery. The Montgomery property was put into my name in November. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in November. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How sensible a view lenders take of it, depend on the mortgage company as this provision chiefly exists to identify subsales or the wholesaling and assigning of property.
Can you point me to a directory of Co-operative panel conveyancers in Montgomery on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such directory service on the Council of Mortgage Lenders or Building Society Association sites. Very few lending institutions make their panel listings open the public over the internet. Where you are in need of a Montgomery property lawyer on the Co-operative please use our tool.
I recently had an offer accepted on a house in Montgomery. My mortgage broker pressured me to appoint their lawyer. I paid an upfront payment of £200. Not long after, the solicitor contacted me sheepishly admitting that they were not on the Co-operative conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Co-operative panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I have justfound out that Arc property Solicitors have been shut down. They carried out my conveyancing in Montgomery for a purchase of a leasehold apartment 9 months ago. How can I establish that the property is not still registered in the name of the previous owner?
The easiest method to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Montgomery conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what should have been a simple, no chain conveyancing. Montgomery is where the house is located. Is there any guidance you can impart?
Flying freeholds in Montgomery are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Montgomery you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Montgomery may decide 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 property.
I am using a search engine for the phrase conveyancing in Montgomery it brings up numerous conveyancerslocally. With so much choice what is the best way to find the suitable solicitor for the sale of my house?
The preferential method of finding the right conveyancer is through a personal recommendation, so seek the opinion of colleagues and family who have bought a property in Montgomery or the respected estate agent or mortgage broker. Charges for conveyancing in Montgomery differ, so it's advisable to request a minimum of three quotes from varying types of conveyancers. Be sure to obtain confirmation that the fees are fixed.