My wife and I are buying a leasehold flat in Beaconsfield. My Conveyancer is not listed on the mortgage company approved list. Is it possible for me to retain my Beaconsfield conveyancing solicitor notwithstanding that they are not on the bank panel?
You will need to appoint a property lawyer to complete the formalities when you require a mortgage to buy your home. They will conduct all the necessary investigations on the property, make sure that you’re properly registered as the owner and ensure that all the required mortgage documentation is in order. One may select a Beaconsfield lawyer of your choosing. Nevertheless, if the property lawyer selected is not a member of the bank solicitor panel supplemental costs will be incurred as separate legal representation will be need by the lender. Conveyancing panel applications can be submitted, so provided your solicitor has not in the past sought membership they should take the opportunity to apply.
My grandson is about to exchange on a house that has just been built in Beaconsfield with a home loan from Virgin Money. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Forgive me if this question is silly but I am new to the process as a 1st time buyer of a two bedroom flat in Beaconsfield. Do I pick up the keys to the property on completion from my conveyancer? If so, I will use a High Street conveyancing solicitor in Beaconsfield?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you should be called to pick up the keys from the selling Agents and move into your new home. This tends to happen between 1 and 3pm.
Is it the case that all Beaconsfield solicitors on the RBS conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the RBS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many lenders do allow licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
My partner and I have arranged a further advance on our mortgage from Nottingham as we want to conduct alterations to our property in Beaconsfield. Are we obliged to choose a nearby Beaconsfield solicitor on the Nottingham conveyancing panel to deal with the legals?
Nottingham would not normally require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham conveyancing panel.
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. Beaconsfield is where the house is located. Is there any guidance you can give?
Flying freeholds in Beaconsfield are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beaconsfield you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beaconsfield 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 premises.
My brother-in-law has suggested I instruct a conveyancing solicitor in Beaconsfield. I need to find out if they are on the lender's conveyancing panel. Could you or the bank confirm if they are on the panel?
One option is to contact the conveyancer to enquire if they are on the lender's approved list. If that does not help call us and we can investigate and revert. If they are not on the bank panel we can certainly arrange a specialist conveyancing solicitor in Beaconsfield on the approved list for your mortgage company.