We are intending to buy a 2 bedroom apartment in St Andrews with a mortgage. We have a St Andrews solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the bank panel firms or keep our St Andrews conveyancing practitioner and pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. Another option that might be available is for your St Andrews conveyancing solicitor to apply to be on the conveyancing panel.
When will exchange of contracts occur in domestic conveyancing in St Andrews and am I required to be at the lawyers branch?
If you are local to our conveyancing solicitors in St Andrews you are invited in to sign the paperwork. That being said, the law practices we recommend provide a nationwide conveyancing service and provide just as diligent and professional a job for you when dealing with you electronically. The signing of the contract is not when everything is set in stone. A signed contract is necessary for the firm to exchange contracts at the suitable time, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in St Andrews)to be in the office at the appropriate time.
Do I have to have a meeting at the offices of the solicitor to execute the mortgage deed? If so, I will choose one who does conveyancing in St Andrews so that I can pop in to their offices if required.
Nowadays conveyancing panel lawyers for banks undertake all of the communications via the post, e-mail or over the phone. This means that they can undertake the legal work for your home move no matter where you live in the country. That being said you can check if you have the option of attending the offices of your conveyancing lawyer if needed.
My wife and I buying a detached bungalow in St Andrews. Our aim is to carry out a loft conversion at the property.Will legal investigations on the property involve investigations to ascertain if these alterations are permitted?
Your property lawyer will check the deeds as conveyancing in St Andrews will occasionally reveal restrictions in the title deeds which prohibit certain alterations or necessitated the permission of a 3rd party. Some extensions need local authority planning permissions and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these things with a surveyor before you commit yourself to a purchase.
I'm the only beneficiary of my late father’s estate and I have everything in my name now, including the my former home in St Andrews. Conveyancing formalities meant that the Land Registry date was in February. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be treated the same way as though I had purchased the property in February. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. How sensible a view mortgage companies take of it, depend on the lender as this obligation is chiefly there to pick up on subsales or the quick reselling of properties.
I was told two weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in St Andrews is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, no chain conveyancing. St Andrews is the location of the property. Can you offer any opinion?
Flying freeholds in St Andrews are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside St Andrews you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in St Andrews may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.