What happens if my lawyer’s firm is suspended from the HSBC Conveyancing panel ahead of completing my conveyancing in Pound Hill?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
When it comes to mortgage companies such as Clydesdale, do Pound Hill solicitors face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I am currently in the process of buying my council flat in Pound Hill. I have a mortgage agreed with Virgin Money. Conveyancing is not something I have any knowledge of. 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 Virgin Money, you will need to appoint a solicitor on the Virgin Money conveyancing panel.
The mortgage over my property is with Coventry BS for my property in Pound Hill. Conveyancing was finalised months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS 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 Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel solicitor.
Due to the guidance of my in-laws I had a survey completed on a house in Pound Hill before appointing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor has said that some lenders may refuse to give a loan on such a house.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you e-mail us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Pound Hill. Conveyancing may be slightly more expensive based on your lender's requirements.
How do I identify a Pound Hill solicitor on the The Mortgage Works conveyancing panel? I have wheels and am prepared to travel upto 10miles to meet the solicitor.
You can use the tool on this page. Please choose the bank and your location and you will see a number of Pound Hill conveyancing lawyers located nearest you. We have detailed some Pound Hill conveyancing firms at the bottom of this page and you can contact them to check if they are on the The Mortgage Works approved list
My step-father has recommend that I use his conveyancers in Pound Hill. Should I use them?
No doubt it’s preferable to select a conveyancing practitioner is to get referrals from friends or relatives who have previously instructed the solicitor you're are thinking of instructing.