I am expecting a mortgage with Lloyds. I hope to retain the legal services of a Licensed Conveyancer in East Grinstead. Does the Lloyds Conveyancing panel include Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
Can you help? My East Grinstead lawyer is informing me me that she is duty bound toconduct East Grinstead conveyancing searches due to the fact thatthe firm are on the HSBCconveyancing panel. Is this really necessary?
Unfortunately both you and your lawyer have little choice here. As you are obtaining a mortgage with a lender your lawyer has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancing practitioner would have previously signed the Terms and Conditions of your bank’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook conditions . Even if you were a cash buyer you would be ill advised not to carry out East Grinstead conveyancing searches.
Why do I have to pay up front for my conveyancing in East Grinstead?
If you are buying a property in East Grinstead your solicitor will request that you put them with monies to cover the search fees. Normally this is asked for to cover the fees of the conveyancing searches. When the deposit is as part of the total price then this will be asked for immediately before exchange of contracts. Any further balance that is needed will be payable a few days ahead of the completion date.
My uncle pointed out to me me that in buying a property in East Grinstead there could be a number of restrictions prohibiting external changes to a property. Is this right?
There are a number of properties in East Grinstead which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in East Grinstead should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a East Grinstead property lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Yorkshire BS 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 Yorkshire BS mortgage from the register. Yorkshire BS, 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 Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
Skipton have agreed my mortgage in principle, my offer on a house in East Grinstead has been agreed to, what happens next?
Your estate agent will wish to know who your solicitors are (ensure that the lawyers are on the lender’s approved list). Call up Skipton or your financial adviser and finish off any outstanding paperwork. Skipton will sellect a valuer who will get in touch with the estate agent or seller to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes approximately a week for the mortgage offer to be issued. Skipton will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in East Grinstead.
Should my solicitor be raising enquiries about flooding as part of the conveyancing in East Grinstead.
Flooding is a growing risk for lawyers dealing with homes in East Grinstead. Some people will acquire a house in East Grinstead, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, however there are a number of checks that may be undertaken by the buyer or by their conveyancers which can figure out the risks in East Grinstead. The standard completed inquiry forms sent to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to determine if the property has historically flooded. In the event that the residence has been flooded in past and is not disclosed by the seller, then a purchaser could issue a claim for damages stemming from an inaccurate answer. The buyer’s solicitors will also commission an environmental search. This will indicate whether there is any known flood risk. If so, more detailed investigations will need to be made.