I can't travel far from Fenny Stratford. What is the rationale as to why all Fenny Stratford conveyancers are not on all bank panels?
Banks highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This resulted in mortgage companies pruning less reputable firms off their panel of approved lawyers .
How do I find out if the solicitor conducting my conveyancing in Fenny Stratford is on the lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for Bank of Scotland thus paying £175.00 in another set of conveyancing charges.
Feel free to take advantage of the find a lender approved solicitor tool on this site. Pick the mortgage company and type ‘Fenny Stratford’ or your location and you will be presented with numerous conveyancers based in Fenny Stratford or near you.
What is the difference between a licensed conveyancer and conveyancing solicitor in Fenny Stratford
There are two types of lawyers who can carry out conveyancing in Fenny Stratford namely licenced conveyancers or solicitors. The two can provide the legal services that required to complete the disposal or purchase of property. Both are required to execute Fenny Stratford conveyancing to the same standards and guidelines so you can be safe in the knowledge that your conveyancing will be professionally administered and that all requisite procedures should be appropriately attended to.
We have a mortgage agreed in principle with Kent Reliance. Fenny Stratford conveyancing lawyers were appointed. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance completed the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
The mortgage over my property is with Lloyds for my property in Fenny Stratford. 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 Lloyds?
You must advise Lloyds prior to renting your property as this is likely to be a breach of Lloyds’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 Lloyds directly. It should not be necessary to do this via a Lloyds conveyancing panel solicitor.
I've recently found out that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Fenny Stratford is the location of the property. Can you shed any light on this issue?
Flying freeholds in Fenny Stratford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Fenny Stratford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fenny Stratford may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
My father has recommend that I instruct his lawyers for conveyancing in Fenny Stratford. Should I use them?
There are no two ways about it the ideal way to select a conveyancing lawyer is to get feedback from friends or family who have actually experience in using the solicitor you're contemplating using.