My house in Corfe Mullen is up for sale and I have accepted an offer. Does the lawyer need to be required to be on the Virgin Money conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money 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 specifications fairly frequently in recent years.
I have paid off my mortgage with Nationwide. I assume I don't need a Corfe Mullen property lawyer on the Nationwide panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nationwide 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 Nationwide mortgage from the register. Nationwide, 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 Nationwide has sent the Land Registry the discharge electronically, and
- Nationwide has instructed the Land Registry to do so
The mortgage over my property is with UBS for my property in Corfe Mullen. Conveyancing was finalised 12 months ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform UBS?
You must advise UBS before renting your property as this is likely to be a breach of UBS’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact UBS directly. It should not be necessary to do this via a UBS conveyancing panel lawyer.
I had an offer accepted on a house in Corfe Mullen on 15/3/2021, valuation was booked 2 days after, received a clean bill of health. Solicitor appointed, so the only thing outstanding was my mortgage offer. Having made daily calls to RBS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the RBS conveyancing panel. Are RBS entitled to hold back the Mortgage pending the lawyer being on the approved list?
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for RBS to deal with your lawyer's application to be on the RBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will my lawyer be raising questions about flooding during the conveyancing in Corfe Mullen.
The risk of flooding is if increasing concern for lawyers dealing with homes in Corfe Mullen. Plenty of people will acquire a house in Corfe Mullen, fully expectant that at some time, it may suffer from flooding. However, aside from the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous checks that may be initiated by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Corfe Mullen. The conventional set of completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to discover if the property has ever been flooded. In the event that the property has been flooded in past and is not revealed by the vendor, then a purchaser may issue a legal claim for losses as a result of such an misleading answer. The buyer’s solicitors may also commission an enviro search. This will higlight whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
I decided to have a survey done on a property in Corfe Mullen ahead of instructing solicitors. I have been informed that there is a flying freehold aspect to the house. The surveyor has said that some lenders may refuse to issue a loan on a flying freehold property.
It depends who your proposed lender is. HSBC has different instructions for example to Halifax. If you e-mail us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Corfe Mullen. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Corfe Mullen to see if the conveyancing will be more expensive.
I am looking to sell my property. My former lawyers has retired. I would be grateful for any recommendation of a conveyancing firm. Im based in Corfe Mullen if that makes things easier.
Please use our search tool to help you find a solicitor for your conveyancing in Corfe Mullen. We have connected thousands of home buyers and sellers with lender approved solicitors to ensure that the legalities of their house move goes with a minimum of fuss.