My husband and I are purchasing a 1 bedroom apartment in Stoke Poges with a loan from Lloyds TSB Bank.We like our Stoke Poges conveyancing solicitor but Lloyds TSB Bank says his firm is not listed on their "panel". We have to appoint a Lloyds TSB Bank panel solicitor or keep our local solicitor and pay for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains terms and conditions, one of which will be that lawyers must be on the Lloyds TSB Bank approved list. in the past, most mortgage companies had large numbers of solicitors 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank
My wife and I are purchasing a apartment in Stoke Poges. It might be a silly question but how we can trust a conveyancer? At some point we will need to put money into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the sole recipient of my late grandmother’s will and I have everything in my name alone, including the house in Stoke Poges. The Stoke Poges property was put into my name in April. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be regarded the same way as though I had purchased the house in April. Do I have to wait 6 months to sell?
The CML handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view mortgage companies take of it, depend on the mortgage company as this obligation is chiefly there to identify the purchase and immediately sell or the wholesaling and assigning of properties.
I have a mortgage with Nationwide for my property in Stoke Poges. Conveyancing was finalised some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Nationwide?
Your original mortgage agreement with Nationwide will provide that you need their approval in advance of renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel lawyer.
Are there restrictive covenants that are commonly picked up during conveyancing in Stoke Poges?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Stoke Poges. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How difficult is it to change conveyancer as I have to select a firm on the Yorkshire Building Society conveyancing panel. I instructed a high street conveyancing solicitor in Stoke Poges five minutes from me but she is not accepted by Yorkshire Building Society
We will our best to assist in finding you a conveyancing solicitor in Stoke Poges on the Yorkshire Building Society panel. Please note that the conveyancers that we work with do not pay us commission if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in Stoke Poges. In making use of search facility on this site, you can scrutinise charges for conveyancing solicitors in Stoke Poges and throughout England and Wales.
Do online conveyancing organisations undertake everything a local Stoke Poges solicitor does or must I use a solicitor for the final stages for my conveyancing in Stoke Poges?
Where you use an online conveyancer they will undertake all the work your Stoke Poges solicitor would cover.