lenderpanel

Find a Poundbury Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Poundbury? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Poundbury home move at risk of delay or failure.

Only LenderPanel.com provides a subset of authorised Poundbury conveyancers for over 130 lenders.


Recently asked questions about conveyancing in Poundbury

I am nearing exchange of contracts for my apartment in Poundbury and the EA has just called to advise that the buyers are changing their conveyancer. The reason given is that the bank will only work with property lawyers on their conveyancing panel. Why would a major mortgage company only work with certain solicitors rather the firm that they want to appoint for their conveyancing in Poundbury ?

UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.

Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.

In what way does my ID and proof of funds have anything to do with my conveyancing in Poundbury? What am I being asked for?

It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Poundbury. However these days you will not be able to complete any conveyancing transaction without first supplying proof of your identity. This usually takes the form of a either your passport or driving licence plus a utility bill. Remember if you are providing your driving licence as proof of identification it needs to be both the paper section as well as the photo card part, one is not acceptable in the absence of the other.

Verification of the source of monies is mandated under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer will need to have this information on record. Your Poundbury conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any money from you into their client account and they will also ask further queries concerning the origin of funds.

I am expecting a AIP from Nationwide this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Poundbury solicitors on the Nationwide conveyancing panel, or is it better to go independently?

You will need to appoint Poundbury solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.

I have paid off my mortgage with Yorkshire BS. I assume I don't need a Poundbury conveyancing practitioner on the Yorkshire BS panel to remove the mortgage at the Land Registry. Please confirm.

If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

  1. but are not moving to another property
  2. where Yorkshire BS has sent the Land Registry the discharge electronically, and
  3. Yorkshire BS has instructed the Land Registry to do so
The Land Registry will send you a letter confirming that your Yorkshire BS mortgage has been paid off.

I currently have a mortgage with Principality for my property in Poundbury. Conveyancing has been completed 12 months ago. If I am intending 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 Principality?

Your original mortgage agreement with Principality will provide that you need their approval prior to letting out your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies 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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel solicitor.

Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Poundbury I like with a park and station nearby, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Poundbury for this price, so just wondered if I would be making a grave error buying a lease with such few years left?

If you need a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the offer by the anticipated lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor about this.

In my capacity as executor for the estate of my grandmother I am selling a house in Monmouth but live in Poundbury. My lawyer (who is 260 kilometers from meneeds me to execute a statutory declaration ahead of the transaction finalising. Could you suggest a conveyancing practitioner in Poundbury to witness this legal document for me?

Technically speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will do regardless of whether they are Poundbury based

Last updated

Neighbouring Locations

Blandford Forum
Poundbury
Dorset
Dorchester
Portland
Weymouth

Find out more about how flying freehold can affect your the value of a property.