My financial adviser says he needs my Wareham law firm’s panel member for the Nationwide conveyancing panel. Can you suggest how I obtain this. I have tried my local Wareham branch but they have not responded to me.
You are best placed to get this information from your Wareham conveyancing practitioner . They maintain a central record lender panel numbers.
My flat in Wareham is up for sale and I have accepted an offer. Will the lawyer have to be required to be on the Virgin Money conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently currently.
I happen to be the only beneficiary of my late mum's will and I have everything in my name alone, including the house in Wareham. The Wareham property was put into my name in September. I plan to dispose of the property. I do know about the CML 6 month 'rule', meaning my property ownership may be treated the same way as though I had purchased the house in September. Do I have to wait half a year to sell?
The CML handbook requires solicitors 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. How practical a view banks take of it, depend on the mortgage company as this requirement is primarily there to pick up on the purchase and immediately sell or the flipping of properties.
I recently had an offer accepted on an apartment in Wareham. My financial adviser pressured me to appoint their solicitor. I paid an on account payment of £225. Shortly after, the solicitor contacted me embarrassingly acknowledging that they were not on the Principality conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Principality panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I was told three 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 Wareham 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 a mortgage 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.
My wife and I purchased a renovated Victorian property in Wareham. Conveyancing lawyer represented me and Bank of Ireland. I did a free Land Registry search last week and I saw two entries: one for freehold, another for leasehold with the matching property. Is it worth asking Bank of Ireland to clarify?
You need to read the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wareham and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with purchasers. You can also question the situation with your conveyancing solicitor who conducted the conveyancing.
Due to the encouragement of my in-laws I had a survey completed on a house in Wareham ahead of appointing solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks tend refuse to grant a loan on such a home.
It depends who your proposed lender is. Bank of Scotland has different requirements from Halifax. If you call us we can investigate further with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Wareham. Conveyancing may be slightly more expensive based on your lender's requirements.