I was informed recently by my mortgage adviser that my Chase Side lawyer is not on the bank Solicitor panel. What can I do to check?
The sensible course of action for you to take is to call your Chase Side lawyer directly. It is reasonable to expect your lawyer to inform you of the situation. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
We are selling our apartment in Chase Side. Does my conveyancer need to be on the TSB conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the TSB conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
If you had a top tip for selecting a conveyancing solicitor in Chase Side what would it be?
Do not opt for the lowest Chase Side conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am the single recipient of my late father’s estate with all property in now in my sole name, including the my former home in Chase Side. The Chase Side property was put into my name in March. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my property ownership could be treated the same way as though I had purchased the property in March. Will no one buy the property for half a year?
The CML handbook instructs conveyancers 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 impacted by that. How practical a view lenders take of it, depend on the mortgage company as this requirement principally exists to capture subsales or the quick reselling of property.
It is not clear whether my lender requires a lease extension. I have telephoned my Chase Side bank branch on various occasions and was told it does not impact the mortgage offer and they would lend. My Chase Side conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their specific requirements. Who do I believe?
As long as the solicitor is on the lender approved list, they must comply with the CML Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am looking for a ground for flat up to £305k and identified one round the corner in Chase Side I like with open areas and railway links in the vicinity, however it only has 61 remaining years left on the lease. I can't really find anything else in Chase Side suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage the shortness of the lease will be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
How easy is it to change a solicitor as I need to find a Chase Side based one who is on the mortgage company conveyancing panel. Is it advisable to appoint a new law firm?
If you haven't yet instructed a solicitor to do anything for you and at this stage simply received an estimate as to costs, you're perfectly free to choose a different solicitor to carry out your work for you. The best way is to get recommendations from friends or family who have actually used the solicitor or conveyancer in Chase Side that you're thinking of instructing.