My wife and I have recently appointed a conveyancing solicitor in Rawcliffe. I need to find out if they are accepted on the Virgin Money conveyancing panel. Could you or the lender confirm if they are on the panel?
The first thing to do is phone the solicitor and ask them if they are on the lender panel. Otherwise you should get in touch with Virgin Money who may be able to confirm.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Rawcliffe?
Two types of professional can execute conveyancing in Rawcliffe namely CLC regulated conveyancers or solicitors. Both professionals handle the legal services that you need to complete the disposal or purchase of property. Both are required to execute Rawcliffe conveyancing to the same quality and guidelines so you can be safe in the knowledge that your conveyancing will be properly administered and that the requirements and steps will be correctly followed.
When it comes to lenders such as Coventry BS, do Rawcliffe solicitors incur a fee to be on the list of approved solicitors?
We are unaware of any lender fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I can not fathom if my bank requires a lease extension. I have telephoned my Rawcliffe bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Rawcliffe conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
As long as the conveyancing practitioner is on the bank approved list, she or he must comply with the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I own a terraced Georgian house in Rawcliffe. Conveyancing solicitor represented me and Nationwide Building Society. I did a free Land Registry search last week and there are two entries: the first freehold, another for leasehold with the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Rawcliffe and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the situation with your conveyancing practitioner who conducted the work.
I decided to have a survey completed on a house in Rawcliffe before instructing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders will not grant a loan on this type of home.
It depends who your proposed lender is. HSBC has different instructions for example to Nationwide. If you contact us we can investigate further with 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 Rawcliffe. Conveyancing may be slightly more expensive based on your lender's requirements.
Do I cancel my mortgage payments with Nottingham as soon as a completion date for my sale in Rawcliffe has been set?
No, you must keep paying any mortgage payments to Nottingham pending the mortgage being discharged out of the proceeds of sale as part of your Rawcliffe conveyancing.