Is the fact that my solicitor in Wingate is not listed on my bank's solicitor panel that there is a problem with the standard of the firm’s conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Wingate conveyancing firm and ask them why they are no longer on the approved list for your bank.
We just had an offer accepted to buy with Coventry BS. I visited a couple of high street firms but am unable to find a Wingate conveyancing firm on the Coventry BS panel. Could you help?
Please do make use of the find a lender approved solicitor tool on this page. Pick the mortgage company and type Wingate or your location and you will discover numerous solicitors based in Wingate or by proximity to you.
I'm the sole beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Wingate. The Wingate property was put into my name in August. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as if I'd bought the house in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How sensible a view mortgage companies take of it, depend on the lender as this requirement is principally there to capture the purchase and immediately sell or the flipping of property.
Are all Wingate Conveyancing Quality Solicitors on the Leeds Building Society conveyancing panel?
Some major banks and building societies now make use of CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I recently had an offer agreed on an apartment in Wingate. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £200. Soon after, the property lawyer called me to say that they were not on the Yorkshire BS 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 Yorkshire BS 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 am looking for a leasehold apartment up to £245,000 and identified one round the corner in Wingate I like with open areas and station in the vicinity, the downside is that it only has 52 remaining years left on the lease. There is not much else in Wingate in this price bracket, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage that many years will be problematic. Reduce the price by the amount the lease extension will cost if not already taken into account. If the current owner has owned the property for at least 2 years you can ask them to start the process of the extension and pass it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this matter.
We are in the process of buying a property in Wingate. Can the property lawyer keep our transaction price a secret from sites such as Zoopla. How could this be achieved ?
HMLR as a matter of law bound to specify price paid data on a register of the title for residential properties nationwide which includes homes in Wingate. The Title Register is a public document, so the Land Registry would be breaking the law excluded certain homes such as the one in Wingate.
You can make a request of HMLR to hide the price paid data yet the response will be in the negative.