My husband and I are buying a 3 bedroom apartment in Marske By The Sea with a mortgage. We have a Marske By The Sea conveyancer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the mortgage company panel solicitors or retain our Marske By The Sea solicitor as well as pay for one of their panel lawyers to represent them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Marske By The Sea conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I are only a couple days away from an exchange on a property in Marske By The Sea and my parents have sent the ten percent deposit to my property lawyer. I am now told that as the deposit has not arrived from me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I disclosed to the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
Your property lawyer is duty bound to check with mortgage company to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
The Marske By The Sea conveyancing firm that I appointed last week on my house acquisition in Marske By The Sea have without warning shut down. They were on acting for me because I had to have a firm on the Virgin Money conveyancing panel and my previous Marske By The Sea lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What are my options?
If you have an estate agent involved then inform them straight away so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Virgin Money conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
Have just purchased a repossessed house at auction in Marske By The Sea. Conveyancing is needed. What happens now?
Given that you have now exchanged you should hire the services of a conveyancing lawyer as a matter of urgency as you now have a tight a fixed date to complete the property. Every auction property will ordinarily have a bespoke legal pack. This will likely include the copy title deeds, local authority and drainage searches. If you have purchased leasehold property the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You need to hand this to the conveyancer working for you ASAP. Do make sure that that you have the requisite funding organised to complete on the on the contractual date .
I have today made my last payment due on my mortgage with Santander. I assume I don't need a Marske By The Sea property lawyer on the Santander panel to remove the mortgage at the Land Registry. Am I right?
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
UBS have agreed my mortgage in principle, my bid on a apartment in Marske By The Sea has been accepted, what happens next?
Your estate agent will need to be advised as to your property lawyer's details (ensure that the conveyancers are on the lender’s approved list). Contact UBS or your financial adviser and complete any outstanding paperwork. UBS will appoint a valuer who will get in touch with the selling agent or seller to schedule an appointment. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. UBS will send the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Marske By The Sea.
What does commercial conveyancing in Marske By The Sea cover?
Commercial conveyancing in Marske By The Sea covers a wide range of services, given by qualified solicitors, relating to business property. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of tenancies.