My partner and I are planning to purchase a property in Crick and have appointed a Crick conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Santander have this afternoon contacted us to inform me that there is now an issue as our Crick solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Crick solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can your site be used to recommend a Conveyancing solicitor in Crick even if I’m not purchasing or disposing of a house, for instance where I want to buy a shop in Crick with a loan from Bank of Scotland?
Our comparison service is predominantly there to locate domestic conveyancing solicitors in Crick but we have set out towards the end of this page some Crick commercial conveyancing firms. You will need to make contact with the solicitors directly to establish if they are also authorised to represent Bank of Scotland
I am purchasing a property in Crick. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
Given that your lender is Nottingham your lawyer must comply with the conveyancing instructions set out in Part 2 of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook sets out minimum provisions for solar panel roof-space leases, and lawyers are required to report to Nottingham where a lease fails to satisfy these conditions. The specifications relate to the installation of panels on properties countrywide and is not isolated to Crick.
We were going to get a OIP from Clydesdale this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Clydesdale recommend any Crick solicitors on the Clydesdale conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Crick solicitors independently although you'll need to choose one on the Clydesdale conveyancing panel. The solicitor represents both you and Clydesdale through the process.
Lloyds have agreed my mortgage in principle, my offer on a property in Crick has been accepted, what happens next?
Your estate agent will want to know who your solicitors are (ensure that the solicitors are on the bank’s approved list). Telephone Lloyds or your broker and finalise any outstanding forms. Lloyds will sellect a valuer who will get in contact with the estate agent or vendor to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a fortnight to get a mortgage offer. Lloyds will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Crick.
I am looking for a ground for flat up to £305k and identified one round the corner in Crick I like with amenity areas and transport links nearby, the downside is that it only has 49 years on the lease. There is not much else in Crick suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Is it necessary during the course of the conveyancing process to pop into the offices of the lender conveyancing panel solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Crick as it will be easier to pop in to their offices when needed.
As opposed to 12 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Crick.