My brother-in-law has suggested I instruct a conveyancing solicitor in Cheadle. I need to find out if they are accepted on the TSB conveyancing panel. Can you help?
The first thing you should do is e-mail the conveyancer and ask them whether they can act for the lender. Alternatively please get in touch with TSB who may be able to help.
Are all Cheadle Conveyancing Quality Solicitors on the Co-operative conveyancing panel?
It is true that some lenders now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Cheadle conveyancing lawyers have been selected. How long does it take for Bank of Ireland to forward the offer to the property lawyer?
There is no definitive answer here. Have Bank of Ireland completed the valuation? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
We have agreed to purchase a house in Cheadle. An unusual aspect is that the roof has a solar panel. UBS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with UBS your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for UBS. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to UBS where a lease fails to comply with these conditions. The specifications relate to the installation of panels on properties in England and Wales and is not restricted to Cheadle.
How does conveyancing in Cheadle differ for newly converted properties?
Most buyers of new build residence in Cheadle contact us having been asked by the seller to exchange contracts and commit to the purchase even before the residence is built. This is because house builders in Cheadle usually acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Cheadle or who has acted in the same development.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Cheadle is the location of the property. Can you offer any guidance?
Flying freeholds in Cheadle are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Cheadle you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cheadle may ascertain 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 residence.
Am I right to be concerned by brokers that I am dealing with are suggesting an online conveyancing firm rather than a local Cheadle conveyancing company?
As is the case with many professional services, often recommendations from family and friends can be worth their weight in gold. Nevertheless there are numerous parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and banks may put forward solicitors to retain. Sometimes these lawyers might be known to one of the organisations as experts in their field, but sometimes there exists a financial incentive behind the recommendation. You have the right to appoint your own lawyer. You need to be aware that many lenders operate an approved list of lawyers you have to use for the lender related work in your transaction.