I am obtaining a offer of a home loan from Lloyds. I hope to retain the legal services of a Licensed Conveyancer in Ongar. Does the Lloyds Conveyancing panel include conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
We are selling our apartment in Ongar. Does my lawyer need to be on the Leeds Building Society conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Leeds Building Society 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 currently.
Have just purchased a probate house at auction in Ongar. Conveyancing is needed. What happens now?
Having exchanged you must instruct a conveyancing lawyer quickly as you now have a tight a fixed date to complete the purchase. An auction property should have a corresponding legal pack. This will include the copy title deeds, local authority and drainage searches. Where you are dealing with leasehold premises the conveyancing papers may contain a copy of the lease, management information and a sellers leasehold information form and associated conveyancing paperwork specific to leasehold premises. You must give this to your appointed conveyancing solicitor as soon as possible. You also need to ensure that you have funds in place to complete the transaction on the set completion date.
Are all Ongar Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
A selection of lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
I have a mortgage with Nationwide for my property in Ongar. Conveyancing has been completed a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Nationwide?
Nationwide must be informed of your intention prior to renting your property as this is likely to be a breach of Nationwide’s mortgage conditions. It may be that Nationwide will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Nationwide directly. It should not be necessary to do this via a Nationwide conveyancing panel lawyer.
Various web forums that I have come across warn that are a common cause of stalling in Ongar house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of delay in conveyancing in Ongar.
I have been pointed in your direction by a number of property agents in Ongar to get a quote from a solicitor using your seach tool. Is there a financial inducement for Estate Agents to market your services over and above a competitor’s?
We don’t offer any commission for sending work in our direction. We thought it would be too underhand to pay a commission because home movers will think, ‘How come the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.