I had intended to instruct a property lawyer in Stocksfield for our house purchase. Our financial adviser informed us that our bank Barclays won't deal with them. Why is this not regarded as unfair competition?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Stocksfield conveyancing firms would have been on many mortgage company panels. The Financial Services Authority in 2010 completed a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies have regularly sought more data from law firms relating to their operations and their employees as well as set certain criteria such a completing on a minimum volume of conveyancing. Many Stocksfield conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Stocksfield is amongst the many locations where the solicitors we list are are authorised to act for Barclays .
We are buying a terrace house in Stocksfield. Our aim is to an extension at the rear at the property.Will the conveyancing process include checks to ascertain if these works were previously refused?
Your conveyancer should check the deeds as conveyancing in Stocksfield can sometimes identify restrictions in the title deeds which prevent certain works or necessitated the permission of another owner. Many works need local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these things with a surveyor ahead of any purchase.
I am buying a property in Stocksfield. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Coventry BS your lawyer must follow the conveyancing requirements outlined in Section two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook sets out minimum specifications for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease fails to satisfy these requirements. The conditions relate to the installation of panels on properties in England and Wales and is not restricted to Stocksfield.
After what seems like an age I have had an offer on a maisonette in Stocksfield agreed to, but there is a chain. The vendors have offered on a property, but it’s not yet tied up, and are looking at other properties in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Stocksfield. What should be my next step? When should I get the mortgage application with Co-operative going?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is in the region of £1k, then survey, Stocksfield conveyancing search charges, etc). First, you must check that your conveyancing practitioner is on the Co-operative approved list. As to the next phase this very much depends on the specifics of your transaction, desire for the property and on the state of the market. During a hot market the majority of purchasers will apply for a home loan with Co-operative and arrange for the valuation and only if it comes back ok would they pay their solicitor to move forward with searches.
I decided to have a survey carried out on a property in Stocksfield ahead of retaining conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some mortgage companies will refuse to give a loan on this type of house.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stocksfield. Conveyancing may be slightly more expensive based on your lender's requirements.
Do I need to be suspicious by brokers that I am dealing with are recommending a nationwide conveyancing firm rather than a local Stocksfield conveyancing firm?
As with lots of professional services, often referrals from relatives can be worth their weight in gold. Yet there are lots of players in a conveyancing transaction; estate agents, mortgage brokers and banks may recommend lawyers to instruct. Sometimes the conveyancers might be known to one of the organisations as one of the best in their field, but occasionally there might be a commercial relationship behind the endorsement. You have the discretion to appoint your preferred conveyancer. Don't forget that most lenders specify a panel list of law firms you have to use for the lender aspect of your home move.
I happen to be an executor of my recently deceased parent's Will, with a property in Stocksfield which is to be sold. The bungalow has never been registered at HMLR and I'm advised that many estate agents will insist that it is completed before they'll proceed. What's the procedure for this?
In the circumstances you refer to it seems prudent to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. The Land Registry’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and official copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.