My wife and I are intent on acquiring a flat in Chester. My Solicitor is not on the mortgage company approved panel. Can I still use my Chester conveyancing solicitor notwithstanding that they are excluded from the bank approved list?
One will need to have a property lawyer to deal with the legal work required when you require a loan to purchase your property. The conveyancer will conduct all the relevant due diligence on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage documentation is dealt with. One may instruct a Chester conveyancing practitioner of your choice. Nevertheless, where the property lawyer appointed is not on the lender approved list further charges will arise as separate legal representation will be required by them. Lender panel applications may be submitted, so provided your lawyer has not historically applied for membership they should take the opportunity to apply.
Is there a reason why leasehold purchase conveyancing in Chester is more expensive?
In short, leasehold conveyancing in Chester and elsewhere usually requires extra hours of investigation compared to freehold transactions. This includes lease investigation, communicating with the landlord about serving required notices, procuring current service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
I am considering applying for a RBS mortgage for purchase of a newly converted (under development) in Chester with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for RBS ?
There is nothing to stop you using your solicitor, but RBS will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
My bid for a property was accepted at auction in Chester. Conveyancing is necessary. What is next?
Given that you are now for all intents and purposes signed on the dotted line you must choose a conveyancing solicitor as a matter of urgency as you are faced with a fast approaching a fixed date to complete the deal. All auction property will ordinarily have an associated auction set of papers. This will include evidence of title and search results. In the case of leasehold property the auction papers may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation relating to leasehold premises. You should give this to your appointed conveyancing solicitor ASAP. You also need to ensure that you have funds in place to complete on the date specified in the contract.
I'm the sole beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Chester. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I do know about the CML 6 month 'rule', which means that my property ownership could be considered the same way as if I'd bought the property in December. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view banks take of it, depend on the mortgage company as this obligation chiefly exists to capture subsales or the flipping of properties.
Are all Chester Conveyancing Quality Solicitors on the Lloyds conveyancing list of approved practices?
A selection of banks and building societies now use 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 CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of firms.
Am I best advised to instruct a Chester conveyancing solicitor based in the location that I am hoping to buy? We have a good friend who can conduct the conveyancing but her office is 400miles away.
The benefit of a high street Chester conveyancing practice is that you can drop in to sign documents, deliver your identification documents and apply pressure on them where appropriate. Having local Chester know how is a plus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and the majority were impressed that should outweigh using an unfamiliar Chester conveyancing solicitor solely due to them being Chester based.