I am nearing exchange of contracts for my ground floor flat in Longthorpe and the EA has just telephoned to warn that the buyers are switching conveyancer. I am told that this is due to the fact that the bank will only deal with solicitors on their approved list. Why would a major mortgage company only deal with specific solicitors rather the firm that they want to appoint for their conveyancing in Longthorpe ?
Mortgage companies have always had panels of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
My uncle passed away six months ago and as sole heir and executor I was left the property in Longthorpe. The house had a relatively small loan left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Coventry BS, pay off the mortgage. Is this possible?
If you intend to re-mortgage then Coventry BS will require that you use a conveyancer on the Coventry BS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Coventry BS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Coventry BS mortgage is registered as a charge at the Land Registry.
Do I select a Licenced Conveyancer or Solicitor for conveyancing in Longthorpe?
There are many registered licenced Conveyancers in Longthorpe and Solicitor partnerships in Longthorpe to choose from It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. The two can deal with other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
My conveyancer has informed me that lack of planning permission insurance is necessary on my purchase. What is the typical level of cover needed for conveyancing in Longthorpe?
The appropriate level of lack of planning permission indemnity insurance should be dictated by who your lender. It would differ for example between Yorkshire Building Society and Norwich and Peterborough Building Society. Conveyancing lawyers as opposed to borrowers take out such insurances.
Can you point me to a directory of Skipton panel conveyancers in Longthorpe on the Building Society Association’s Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. A small selection of lenders make their panel listings viewable on the web. If you are looking for a Longthorpe lawyer on the Skipton please make the most of our tool.
I'm converting the mortgage on my existing home to a BTL loan with Britannia and I will use the rest of the raised equity towards further property. The area we are talking about is Longthorpe. Will your lawyers be able to act for the two mortgage companies and tie in the conveyances?
Do use our comparison tool on this site to check that the solicitors are on the relevant lender panels. On the basis that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you conveyancer and communicate your desired outcome and requirements.
I need to instruct a conveyancing solicitor for my conveyancing in Longthorpe. I have stumble upon a web site which looks to be the ideal solution If there is a chance to get all this stuff done via email that would be ideal. Do I need to be concerned? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?