I am not well enough to travel far from Prudhoe. Can you please spell out why all Prudhoe conveyancers are not on all mortgage company panels?
Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies purging less reputable firms from their books of approved conveyancers .
The Prudhoe conveyancing lawyers that I appointed last week on my purchase in Prudhoe have without warning shut down. I only went with them because I needed a lawyer on the Skipton conveyancing panel and my preferred Prudhoe lawyer was not. I cut them a cheque for £250 in advance. What do I do now?
If you have an estate agent involved then let them know immediately so that they advise the vendors that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Skipton conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
I opted to have a survey completed on a house in Prudhoe in advance of retaining conveyancers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some banks tend refuse to issue a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to telephone us we can check with the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Prudhoe. Conveyancing will be smoother if you use a solicitor in Prudhoe especially if they are acquainted with such properties in Prudhoe.
I'm converting the mortgage on my existing home to a BTL loan with The Royal Bank of Scotland and intend to use the remaining equity as a deposit on a second house. The location we are talking about is Prudhoe. Will your solicitors be able to act for the two lenders and link together the transactions?
Make use of our search tool on this site to ensure that the solicitors are approved by both banks. Assuming that they are your conveyancer should be able to connect the two conveyancing matters but you should have a chat with you solicitor and make apparent your desired outcome and needs.
I am purchasing a ground floor maisonette in Prudhoe. Conveyancing solicitor has been waiting for, from the vendor, building insurance schedule. This afternoon I was advised that the seller needs to forward the insurance schedule for the flat above as well. Why would my conveyancer need to check the insurance for the other flat? Is it really necessary? We have been waiting for the last fortnight…
It is not unheard of in leasehold conveyancing in Prudhoe to discover Conveyancing in Prudhoe in a minority of cases reveals that the lease provides for the tenant's to insure their individual flats as opposed to the freeholder insuring the entire property - which is definitely preferable. Do contact your conveyancer but it would appear that your solicitor is looking to verify that the complete building is insured. Insuring your apartment is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated for lack of insurance.