My fiance and I are planning to acquire a flat in Maulden and are in fact using a Maulden conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Coventry Building Society have this morning contacted us to inform me that there is now an issue as our Maulden solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Maulden solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My husband and I are refinancing our maisonette in Maulden with Skipton. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the apartment is repossessed. I have two concerns (1) Is this form unique to the Skipton conveyancing panel as he did not need to sign this form when we purchased 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Skipton conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Skipton. This is solely used to protect Skipton if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Skipton had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am purchasing a property in Maulden. A rare aspect is that the roof has a solar panel. Nottingham have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Nottingham your lawyer must follow the conveyancing requirements outlined in Section two of UK Finance Lenders’ Handbook for Nottingham. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and conveyancing practitioners are required to report to Nottingham where a lease fails to satisfy these requirements. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Maulden.
I am currently in the process of buying my council flat in Maulden. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Maulden is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
Are there restrictive covenants that are commonly identified as part of conveyancing in Maulden?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Maulden. 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 am using a search engine for the term conveyancing in Maulden it brings up many conveyancersin the vicinity. How do I determine which is the right conveyancing solicitor for my move?
The preferential way of seeking a suitable conveyancer is through a personal testimonial, so seek the counsel of colleagues and those you trust who have purchased a property in Maulden or a local estate agent or financial adviser. Charges for conveyancing in Maulden vary, so it's a good idea to request a minimum of four estimates from different law firms. Be sure to seek confirmation that the fees are fixed.