Am I correct in assuming that the fact that my solicitor in Bishops Castle is not identified on my mortgage company's conveyancing panel that there is a problem with the standard of his conveyancing?
That is more than likely an incorrect assumption to make. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Bishops Castle conveyancing practice and enquire why they are no longer on the approved list for your bank.
I have today made my last payment due on my mortgage with TSB. I assume I don't need a Bishops Castle conveyancer on the TSB panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your TSB 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 TSB mortgage from the register. TSB, 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 TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Bishops Castle is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Yorkshire BS have agreed my home loan in principle, my bid on a house in Bishops Castle has been agreed to, what are the next steps?
The property agent will need to be informed of your conveyancer's details (ensure that the property lawyers are on the lender’s approved list). Call up Yorkshire BS or your financial adviser and finish off any appropriate forms. Yorkshire BS will instruct a valuer who will get in contact with the estate agent or vendor to arrange a time for the valuation to occur. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Yorkshire BS will issue the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Bishops Castle.
I'm purchasing my first flat in Bishops Castle with the aid of help to buy. The builders would not move on the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not inform my conveyancer about the extras as it could jeopardize my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In scouring the web for the phrase conveyancing in Bishops Castle it reveals many solicitorslocally. With so much choice what is the best way to find the right solicitor for the sale of my house?
The preferential way of finding a suitable conveyancer is through a personal testimonial, so ask friends and those you trust who have acquired a property in Bishops Castle or the local estate agent or financial adviser. Charges for conveyancing in Bishops Castle vary, so it's advisable to request at least three fee calculations from different law firms. Dont forget to clarify that the charges are assured not to to be inflated.
My husband and I are purchasing a garden flat in Bishops Castle. When we first instructed conveyancer, they assured us that they were on all major UK mortgage company panels. Our mortgage broker emailed yesterday to say that they don't appear to be on the HSBC approved list. If it turns out to be true, what should we do? Should we just find a new conveyancer that is on their panel or should we pay for separate representation, with HSBC selecting their own preferred solicitor.
Where you are acquiring a property with the assistance of a mortgage it is normal for the purchaser’s solicitors to also act for the mortgage company. In order to act for a bank or building society a property lawyer has to be on that lender's conveyancing panel. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the solicitor has to fulfill. Some mortgage companies now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your conveyancing practitioner should call HSBC and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on HSBC's conveyancing panel as you are at liberty to use your preferred Bishops Castle lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another conveyancing practitioner into the mix.