My wife and I are hoping to buy a flat in Northern Moor and have instructed a Northern Moor conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Accord Mortgages Ltd have this afternoon contacted us to advise us that they have now hit a problem as our Northern Moor solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is conventional for the purchasers' solicitors to also act for the mortgage company. 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 Quality Scheme. Your property lawyer 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 as you are at liberty to use your preferred Northern Moor lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
My partner and I are getting closer to an exchange on a flat in Northern Moor and my parents have transferred the 10% deposit to my conveyancing practitioner. I am now informed that as the deposit has not come from me my property lawyer needs to disclose this to my bank. I am advised that, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The conveyancer is legally required to check with lender to make sure that they understand that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am planning to move property in March. Does my conveyancing solicitor call the removal company on the completion day. On a separate note, can you recommend a removal company in Northern Moor. Conveyancing firm was found prior to coming across this page.
On the day of completion you will need to collect the keys from the property agent however this should only happen once the vendors conveyancers inform the agent that they have the completion monies and the keys can be collected. After that you will need to tell the removal men that they can start moving you in. We are not in a position to recommend a specific removal organisation but can assist you in choosing a conveyancing in Northern Moor or a lawyer with expertise in conveyancing in Northern Moor.
I happen to be the single beneficiary of my late grandmother’s estate and I have everything in my name now, including the my former home in Northern Moor. Conveyancing formalities meant that the Land Registry date was in November. I now wish to sell up. I do know about the Mortgage Lenders six month 'rule', which means that my property ownership could be treated the same way as though I had purchased the house in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. How sensible a view mortgage companies take of it, depend on the bank as this requirement principally exists to capture the purchase and immediately sell or the wholesaling and assigning of property.
I recently had an offer accepted on a house in Northern Moor. My mortgage broker recommended their conveyancers. I paid an on account payment of £150. A few days later, the solicitor called me embarrassingly acknowledging that they were not on the RBS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the RBS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I decided to have a survey carried out on a property in Northern Moor ahead of retaining conveyancers. I have been informed that there is a flying freehold element to the house. My surveyor has said that some lenders may refuse to give a mortgage on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions for example to Nationwide. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Northern Moor. Conveyancing will be smoother if you use a solicitor in Northern Moor especially if they regularly deal with such properties in Northern Moor.
How straightforward is it to use your search tool to find a conveyancing lawyer in Northern Moor on the approved list for my lender?
Step one is to select a mortgage company such as National Westminster Bank, Coventry Building Society or Platform Home Loans Ltd then specify your preferred area such as Northern Moor. Conveyancing firms in Northern Moor and further afield will then be identified.