My fiance and I are looking to acquire a house in Ettington and are in fact using a Ettington conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Barclays have this evening contacted us to inform me that there is now an issue as our Ettington solicitor is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for 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 Accreditation Scheme. Your property lawyer 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 are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Ettington solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Can I be sure that the Ettington conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Ettington getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer handling your conveyancing.
I have decided to exercise my right to buy my property in Ettington off the council. I have a mortgage agreed with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
It is unclear whether my lender requires a lease extension. I have telephoned my Ettington bank branch on numerous occasions and was told it wasn't an issue and they will lend. My Ettington conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your lawyer has to follow the CML Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the lender 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
What does a local search tell me regarding the house my wife and I purchasing in Ettington?
Ettington conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search company for instance Xpress Legal The local search is essential in every Ettington conveyancing purchase; as long as you wish to avoid any nasty once you have moved into your property. The search will reveal data on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
Looking forward to sign contracts shortly on a studio apartment in Ettington. Conveyancing solicitors inform me that they are sending me a report next week. What should I be looking out for?
The report on title for your leasehold conveyancing in Ettington should include some of the following:
Details of the parties to the lease, for example these could be the lessee, head lessor, freeholder Repair and maintenance of the premises You need to be informed what counts as a Nuisance as far as the lease is concerned The physical ownership of the premises. This may be the property itself but could also incorporate a loft or basement if applicable. Changes to the flat
Ettington Leasehold Conveyancing - A selection of Queries before Purchasing
Does the lease include onerous restrictions? What is the annual maintenance fee and ground rent? If a Ettington lease has less than 80 years it will affect the marketability of the apartment. Check with your lender that they are willing to to proceed given the lease term. A short lease means that you will probably need a lease extension sooner rather than later and it is worth finding out how much this will be. For most Ettingtonlease extensions you will be be obliged to have been the owner of the residence for a couple of years in order to be legally able to extend the lease.
My wife and I are buying a garden flat in Ettington. When we first instructed conveyancing practitioner, they said that they were on all major UK lender panels. The mortgage broker emailed just now to advise that they are not on the Skipton approved list. If it turns out to be true, what should we do? Do we simply find a new lawyer that is on their approved list or should we pay for dual representation, with Skipton selecting their own approved property lawyer.
If you are purchasing a property needing a mortgage it is standard for the buyer’s solicitors to also represent the mortgage company. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the solicitor has to satisfy. Some banks now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should call Skipton and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Skipton's conveyancing panel as you are at liberty to use your preferred Ettington lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another conveyancing practitioner into the equation.