Some advice if I may. My Higham Ferrers solicitor is assuring me that he is legally obliged toapply for Higham Ferrers conveyancing searches becausethe firm are on the Virgin Moneyapproved lawyer panel. Do I not have a choice here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer 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 requirements . Even if you were a cash buyer you would be ill advised not to carry out Higham Ferrers conveyancing searches.
What is the first thing I need to know concerning purchase conveyancing in Higham Ferrers?
Not many law firms shout this from the rooftops but conveyancing in Higham Ferrers or throughout Northamptonshire is an adversarial process. Put another way, when it comes to conveyancing there is plenty of opportunity for confrontation between you and other parties involved in the transaction. For example, the vendor, estate agent and on occasion a lender. Selecting a lawyer for your conveyancing in Higham Ferrers an important selection as your conveyancer is your adviser, and is the ONLY person in the transaction whose role it is to protect your best interests and to keep you safe.
There is a worrying creep of a "blame" culture- someone must be at fault for the process being so protracted. You must always trust your solicitor above all other parties when it comes to the legal transfer of property.
A relative informed me that in purchasing a property in Higham Ferrers there could be a number of restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are anumerous of properties in Higham Ferrers which have some sort of restriction or requirement of consent to execute external variations. Part of the conveyancing in Higham Ferrers should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I'm the sole recipient of my late father’s will with all property in now in my sole name, including the house in Higham Ferrers. Conveyancing formalities meant that the Land Registry date was in March. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my proprietorship could be considered the same way as though I had purchased the property in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How sensible a view mortgage companies take of it, depend on the mortgage company as this clause is chiefly there to capture subsales or the flipping of property.
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Higham Ferrers lawyer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander 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 Santander mortgage from the register. Santander, 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 Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
I am four weeks into a leasehold purchase having been directed to conveyancers by the selling agent to carry out the conveyancing in Higham Ferrers. I am am very dissatisfied with the quality of service. Could you help me find new solicitors?
A solicitor would have to be very poor to suggest diss instructing them. Has your mortgage been issued? If so you will need to advise them of the new contact details and ensure the loan are re-sent. The solicitor ideally should be on the lenders approved list to avoid escalating fees and complications. So that should be your first question of the new conveyancers. The search tool will help you find a bank approved solicitor for your conveyancing in Higham Ferrers
My step-son is about to join the property ladder, the home loan was agreed last week in principle. After the seller agreed the offer on the apartment we contacted the mortgage institution to move forward with his. We were disappointed to learn that mortgage companies do not accept all conveyancing practitioner, they must be on their panel, is this correct?
Lenders ordinarily restrict either the type or the number of conveyancing firms on their approved list of lawyers. Typical examples of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that lenders have no responsibility for the quality of advice provided by any Higham Ferrers lawyer on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.