I was notified yesterday by my estate agent that my Shildon property lawyer is not on the mortgage company Solicitor panel. How can I be sure whether this is correct?
The first thing you need to do is to contact your Shildon conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
Can you help - my lawyer advises that absentee landlord insurance is needed on my purchase. What is the level of cover for Shildon conveyancing?
The appropriate level of absentee landlord indemnity insurance depends on your lender. It would differ for example between Yorkshire Building Society and The Royal Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
I am the only beneficiary of my late grandmother’s estate with all property in now in my sole name, including the my former home in Shildon. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I do know about the Mortgage Lenders six month 'rule', meaning my proprietorship may be considered the same way as though I had purchased the property in September. Will no one buy the property for half a year?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many mortgage companies would take a pragmatic view as this provision is chiefly there to capture subsales or the wholesaling and assigning of properties.
When it comes to lenders such as Lloyds, do Shildon solicitors face a fee to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I purchased my flat on 10 June and the transaction details is not yet on the land registry website. Should I be concerned? My conveyancing solicitor in Shildon expressed confidence that it would be formalised inside ten days. Are titles in Shildon uniquely lengthy to register?
There is nothing unique about conveyancing in Shildon registration formalities. Rather than based on location, timescales can vary subject to the party submitting the application, whether there are errors and if the Land registry must send notices to any interested persons or bodies. As of today roughly 80% of submission are completed in less than three weeks but occasionally there can be extensive delays. Historically registration takes place after the purchaser is living at the property therefore 'speed' is not usually top priority yet if it is urgent that the the registration takes place urgently then you or your lawyers should speak with the land registry and explain the circumstances.
I am purchasing a new build house in Shildon with a mortgage from Skipton Building Society. The sellers would not budge the amount so I negotiated £7000 of fixtures and fittings instead. The sale representative advised me not inform my lawyer about the deal as it may jeopardize my mortgage with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Taking into account that I am about to spend £400,000 on a property in Shildon I would like to talk to a solicitor regarding thehome move before giving the go ahead to the firm. Can this be arranged?
We could not agree more - we would be happy to talk to you we do not take any clients on without you first talking to the solicitor due to be conducting your conveyancing in Shildon.There is no ‘factory style conveyancing’ - every client is unique individual, not a case number. The practices that we put you in touch with believe that the fees you are calculated and presented to you for your conveyancing in Shildon should be the figure that you are charged.