I am 4 weeks into the sale of my maisonette in Yarm On Tees and the EA has just called to say that the purchasers are appointing a new property lawyer. The excuse is that the mortgage company will only deal with solicitors on their approved list. Why would a leading mortgage company only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Yarm On Tees ?
Mortgage companies have always had an approved set of law firms they are content to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Lenders blame a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are not going to have any impact on this.
I am assisting my step-mother sell her flat in Yarm On Tees. Will the solicitor arrange an energy assessment or do I organise this?
Following the demise of Home Packs, energy performance certificates was maintained a required part of moving house. An EPC needs to be to hand before the property is advertised. This is not a task that conveyancers normally organise. Where you are using a Yarm On Tees conveyancing lawyer they may help arrange energy performance certificates due to their contacts with long established Yarm On Tees energy assessors
When it comes to mortgage companies such as Virgin Money, do Yarm On Tees solicitors face an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
Can you point me to a directory of Bank of Ireland panel conveyancers in Yarm On Tees on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings open the public on the web. Where you are looking for a Yarm On Tees conveyancer on the Bank of Ireland please make the most of our tool.
I am planning on selling our property in Yarm On Tees and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any local lawyer would know that there is no such problem. It does beg the question why the buyers are using a national conveyancing outfit as opposed to a conveyancing solicitor in Yarm On Tees. We have lived in Yarm On Tees for three years we know of no issue. Should we get in touch with our local Authority to seek clarification need.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Me and my brother own a terraced Victorian house in Yarm On Tees. Conveyancing solicitor acted for me and The Mortgage Works. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold with the exact same property. Is it worth asking The Mortgage Works to clarify?
You need to review 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 owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Yarm On Tees and other locations in 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 buyers. You can also question the position with your conveyancing lawyer who carried out the work.
When it comes to leasehold conveyancing in Yarm On Tees what are the most common lease problems?
There is nothing unique about leasehold conveyancing in Yarm On Tees. Most leases are unique and drafting errors can result in certain sections are not included. For example, if your lease is missing any of the following, it could be defective:
A provision to repair to or maintain elements of the property Insurance obligations
You will have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. HSBC Bank, Skipton Building Society, and Godiva Mortgages Ltd all have very detailed conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
Yarm On Tees Leasehold Conveyancing - Examples of Queries Prior to Purchasing
What is the length of the lease? Is there a share of the freehold? Who are the managing agents?