All was ready to move into my new home in Midsomer Norton next Tuesday. I have now been asked to send a copy of my building insurance schedule by my solicitor as he says that he has to check this in his capacity as lawyer for the mortgage company. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s UK Finance Lenders’ Handbook requirements. These obligations are not specific to conveyancing in Midsomer Norton.
My husband and I are hoping to buy a purpose built apartment in Midsomer Norton with a mortgage from Barclays Direct.We would like to retain our Midsomer Norton conveyancing lawyer but Barclays Direct advised that his firm is not listed on their approved list of member firms. It seems we have no choice but to instruct a Barclays Direct panel lawyer or retain our high street solicitor and fork out for a Barclays Direct panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan offered to you contains terms and conditions, a common one being that lawyers must be on the Barclays Direct approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Barclays Direct
When it comes to mortgage companies such as Barclays, do Midsomer Norton conveyancers face a fee to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
We previously selected conveyancers located in Midsomer Norton on the Leeds Building Society solicitor approved list. They are now charging me a supplemental sum for handling the Leeds Building Society mortgage. Is this a supplemental conveyancing fee specified by Leeds Building Society?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your solicitor can charge a fee for this. The charge is not set by Leeds Building Society but by your Midsomer Norton conveyancer. Some firms on the Leeds Building Society panel will charge an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
We have agreed to purchase a house in Midsomer Norton. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
As you are obtaining a mortgage with Barclays your lawyer must follow the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and solicitors are required to report to Barclays where a lease fails to satisfy these requirements. The provisions relate to the installation of panels on properties in England and Wales and is not restricted to Midsomer Norton.
I decided to have a survey done on a property in Midsomer Norton ahead of instructing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies tend refuse to give a loan on this type of property.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Midsomer Norton. Conveyancing may be slightly more expensive based on your lender's requirements.
I am thinking of appointing a conveyancing practitioner in Midsomer Norton for my home move. Is it possible to check a solicitor's complaints history with the profession’s regulator?
You may read published Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Go to Check a solicitor's record. To find information Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.