I can't travel far from Crabtree. Is there a reason why all Crabtree conveyancing practitioners are not on all mortgage company panels?
As unjust as it may appear for mortgage companies to limit who can act for them, from the public’s or solicitor’s perspective, the flip side is that lenders are increasingly anxious and consider it necessary to protect them against mortgage fraud. As a consequence of this concern mortgage companies are limiting their panel of approved conveyancing lawyers to a manageable size.
I am hoping to complete my purchase in Crabtree next Thursday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the lender. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These requirements are not limited to conveyancing in Crabtree.
This question may be naive but I am wet behind the ears as FTB of a two bedroom flat in Crabtree. Do I collect the keys to the house on the completion date from my solicitor? If so, I will instruct a local conveyancing solicitor in Crabtree?
On the day of completion you do not need to go to the conveyancers office in Crabtree. Conveyancing lawyers for you will electronically transfer the completion advance to the vendor’s solicitors, and shortly after the monies have arrived, you should be invited to collect the keys from the Estate Agents and move into your new home. This tends to happen between 1 and 3pm.
I happen to be the sole recipient of my late mum's estate and I have everything in my name alone, including the house in Crabtree. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the property. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be regarded the same way as though I had purchased the house in November. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook obliges solicitors 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 affected by that. How practical a view banks take of it, depend on the mortgage company as this clause primarily exists to identify subsales or the quick reselling of properties.
When it comes to mortgage companies such as Leeds Building Society, do Crabtree property lawyers face an annual charge to be on the list of approved solicitors?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
I require fast conveyancing in Crabtree as I am faced with pressure to exchange contracts within one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save money and time?
As you are not getting a home loan you have the choice not to do searches although no conveyancer would suggest that you don't. With plenty of history conveyancing in Crabtree the following are instances of issues that can show up and therefore impact future mortgageability: Refused Planning Applications, Overdue Fees, Overdue Grants, Unadopted Roads,...
I have todayfound out that Wolstenholmes have closed. They conducted my conveyancing in Crabtree for a purchase of a leasehold apartment 9 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Crabtree conveyancing specialists.