My financial adviser requires my Sherwood solicitor’s panel reference for the HSBC conveyancing panel. Can you suggest how I discover this. I have called my local Sherwood office but they cant find it on their system.
You are best placed to get this information from your Sherwood lawyer . They should have a central record lender panel numbers.
We intend to purchase a purpose built apartment in Sherwood with a loan from Chelsea Building Society.We use our Sherwood conveyancing lawyer but Chelsea Building Society says she’s not on their approved list of firms. we are left little option but to use a Chelsea Building Society panel firm or keep our local solicitor and fork out for a Chelsea Building Society panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The home loan offered to you contains various provisions, a common one being that solicitors will be on the Chelsea Building Society conveyancing panel. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Chelsea Building Society
Are all Sherwood Conveyancing Quality Solicitors on the Barclays conveyancing list of approved firms?
Some major lenders now use CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
I have instructed a Sherwood conveyancing practitioner having checked that they are on the Bank of Ireland conveyancing panel. Does my lawyer arrange the survey of the property?
Bank of Ireland will need an independent valuation of the property. Your lawyer will not arrange this. Usually Bank of Ireland will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Sherwood postcode. As you are getting a mortgage with Bank of Ireland, you could contact them to see if they have a list of approved surveyors in Sherwood.
RBS have agreed my mortgage in principle, my bid on a house in Sherwood has been accepted, what happens next?
The property agent will want to be advised as to your solicitor's details (ensure that the conveyancers are on the bank’s approved list). Call up RBS or the broker and finalise any relevant forms. RBS will instruct a valuer who will get in contact with the selling agent or owners to arrange a slot for the valuation to happen. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. RBS will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Sherwood.
I am buying a new build apartment in Sherwood. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Sherwood
The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared.
Due to the input of my in-laws I had a survey completed on a property in Sherwood prior to instructing conveyancers. I have been informed that there is a flying freehold overhang to the house. The surveyor has said that some mortgage companies tend refuse to grant a loan on such a property.
It depends who your proposed lender is. Lloyds has different requirements from Halifax. If you call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sherwood. Conveyancing will be smoother if you use a solicitor in Sherwood especially if they are acquainted with such properties in Sherwood.