We are purchasing a 1 bedroom apartment in Cardigan with a mortgage. We have a Cardigan solicitor, however the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel firms or keep our Cardigan solicitor as well as pay for one of their panel ones to act for them. We feel that this is unjust; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Cardigan conveyancing lawyer to apply to be on the conveyancing panel.
We wanted to use a property lawyer in Cardigan for our house purchase. Our broker has since advised us that our bank Barclays Direct won't deal with them. Surely this is unfair competition?
A mortgage company may insist on an approved conveyancer act for it. You would be expected to bear the charges for this. Try using our directory service to select a solicitor to carry conveyancing in Cardigan on the Barclays Direct approved list of solicitors.
I'm the only beneficiary of my late mum's estate with all property in now in my sole name, including the house in Cardigan. The Cardigan property was put into my name in May. I now wish to sell up. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my proprietorship will be regarded the same way as if I'd bought the property in May. Will no one buy the property for half a year?
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 may be affected by that. How sensible a view banks take of it, depend on the lender as this provision is chiefly there to capture the purchase and immediately sell or the quick reselling of properties.
Two weeks ago we had a mortgage agreed in principle with HSBC. Cardigan conveyancing lawyers have been appointed. How long does it take for HSBC to send the offer to the conveyancer?
There is no definitive answer here. Have HSBC done the survey? Have you advised HSBC as to your lawyers' details and checked that your lawyers are on the HSBC conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have today made my last payment due on my mortgage with Bank of Ireland. I assume I don't need a Cardigan lawyer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
Are there restrictive covenants that are commonly picked up during conveyancing in Cardigan?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cardigan. 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 do I use the search tool to locate a conveyancing practitioner in Cardigan on the approved list for my bank?
Step one is to select a lender such as Barclays , Bank of Scotland or Bank of Ireland then specify your location such as Cardigan. Conveyancing firms in Cardigan and beyond should be identified.