Unfortunately I am unable to travel far from Chiseldon. Is there a reason why all Chiseldon lawyers are not on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies purging less reputable firms from their books of approved property lawyers .
I had intended to instruct a property lawyer in Chiseldon for our home move. Our broker has since advised us that our mortgage lenders Yorkshire Building Society won't deal with them. Why is this not regarded as unduly restrictive?
A lender may require an approved solicitor act for it. Borrowers are expected to meet the cost of this. Try using our directory service to find a solicitor to conduct conveyancing in Chiseldon on the Yorkshire Building Society member panel.
Is it the case that all Chiseldon conveyancing solicitors on the Virgin Money conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Virgin Money approved list of solicitors they would need to be governed by the SRA. Many lenders do allow licenced conveyancers on their panel and in that case the organisation would be regulated by the Council of Licensed Conveyancers.
We have agreed to purchase a house in Chiseldon. A rare aspect is that the roof has a solar panel. Skipton have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Skipton your lawyer must check the formal requirements contained in Part 2 of UK Finance Lenders’ Handbook for Skipton. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and lawyers are required to report to Skipton where a lease does not satisfy these specifications. The conditions relate to the installation of panels on properties nationwide and is not restricted to Chiseldon.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Chiseldon building society branch on a couple of occasions and was informed it wasn't a problem and they will lend. My Chiseldon conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their published requirements. I have no idea who is right.
Provided that the solicitor is on the mortgage company approved list, they must adhere to the Council of Mortgage Lenders’ Handbook provisions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank 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.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what should have been a straight forward, no chain conveyancing. Chiseldon is the location of the property. Is there any advice you can give?
Flying freeholds in Chiseldon are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Chiseldon you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Chiseldon may determine 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.
As co-executor for the estate of my aunt I am disposing of a house in Swansea but reside in Chiseldon. My solicitor (based 235 kilometers from merequires that I sign a stat dec before completion. Could you suggest a conveyancing solicitor in Chiseldon to attest and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are located in Chiseldon