We are a couple about to sign contracts for a property in Thame. We encountered a problem. The loan offer with The Mortgage Works expires on 18/2/2019 but the owners are putting forward a completion date of 20/2/2019. Is it possible to prolong the loan offer?
The best person to deal with your question is your conveyancer who is in a position to determine if he or she is corresponding with the mortgage company, vendor’s solicitors, selling agents or indeed all parties taking into account what has happend in your conveyancing to date.
Please explain the implications if my solicitor is suspended from the Bank of Ireland Conveyancing panel ahead of completing my conveyancing in Thame?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
My stepmother informed me that in purchasing a property in Thame there could be various restrictions preventing external alterations to the property. Is this right?
We are aware of a number of properties in Thame which have some sort of restriction or requirement of consent to external alterations. Part of the conveyancing in Thame should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Aldermore are being pedantic. The Thame solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told two weeks ago that my mortgage has been agreed to by Yorkshire BS. Is it usual for Yorkshire BS to only issue the offer once my solicitor in Thame is approved on their conveyancing panel? Yorkshire BS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it simple use the search app to locate a conveyancing practitioner in Thame on the panel for my mortgage?
First choose a lender such as Halifax, Bank of Scotland or Clydesdale then choose your location for example Thame. Conveyancing organisations in Thame and beyond will then be identified.
What do I do if I am not happy with the solicitor who undertook our conveyancing in Thame?
We live in an imperfect world, and unfortunately occasionally things do go wrong. That being said there is recourse if you were unhappy with your conveyancing in Thame. This varies from trying to resolve matters directly with them, through to reporting a property lawyer to their governing body. If you remain dissatisfied you may consider enlisting the help of the Legal Ombudsman.