It has come to my attention via my mortgage adviser that my Four Oaks property lawyer is not on the lender Solicitor panel. How can I be certain if this is indeed the case?
The sensible course of action for you to take is to call your Four Oaks lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. Where they are not on the panel they may recommend you to a Four Oaks conveyancing firm that is on the approved list of lawyers for your lender.
We're in Four Oaks, FTBs purchasing with a mortgage (lender is Lloyds , and our solicitor is on the Lloyds conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Lloyds conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Is it the case that all Four Oaks CQS (Conveyancing Quality Scheme) solicitors are on the Aldermore conveyancing panel?
It is true that some lenders now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
Last month we had a mortgage agreed in principle with Coventry BS. Four Oaks conveyancing solicitors were instructed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
Some lenders take longer than others. Have Coventry BS completed the survey? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Planning on purchasing a house in Four Oaks. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Santander conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Four Oaks lawyer is on the Santander conveyancing panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Four Oaks?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Four Oaks. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I opted to have a survey carried out on a property in Four Oaks before appointing solicitors. I have been informed that there is a flying freehold overhang to the house. Our surveyor advised that some banks may refuse to grant a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Birmingham Midshires. If you e-mail us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Four Oaks. Conveyancing may be slightly more expensive based on your lender's requirements.