My mortgage broker has requested my Moseley law firm’s panel reference for the Lloyds conveyancing panel. Can you suggest how I discover this. I have called my local Moseley office but they have not responded to me.
The sensible thing to do is ask for this information from your Moseley conveyancer . They should have a central record lender panel numbers.
Last March we completed a house move in Moseley. We have noticed several issues with the property which we suspect were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been carried out as part of conveyancing in Moseley?
It is not clear from the question as to the nature of the problems and if they are unique to conveyancing in Moseley. Conveyancing searches and due diligence initiated as part of the buying process are carried out to help avoid problems. As part of the legal transfer of property, the vendor answers a document known as a Seller’s Property Information Form. If the information is inaccurate, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Moseley.
We are selling our home in Moseley. Does the property lawyer need to be required to be on the Yorkshire BS conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently in recent years.
Various online forums that I have frequented warn that are the main reason for hinderance in Moseley conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are unlikely to feature in any slowing down conveyancing in Moseley.
I am looking for a ground for flat up to £235,500 and found one close by in Moseley I like with amenity areas and transport links nearby, the downside is that it's only got 52 remaining years left on the lease. There is not much else in Moseley suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you need a home loan the shortness of the lease may be an issue. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.