Our solicitor has discovered a a problem with the lease for the property we are buying in Yateley. The other side have suggested title insurance as a workaround. We are content with insurance and will pay for it. Our solicitor has advised that he must be satisfied that the mortgage company is willing to move forward with this solution. Are we the client or is the lender?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the lender are the client. These conveyancing instructions have to be complied with.
Are the Yateley conveyancing solicitors identified as being on the Skipton conveyancing panel, together with their details provided by Skipton?
Yateley conveyancing firms themselves provide us confirmation that they are on the Skipton conveyancing panel as opposed to being supplied with a list from Skipton directly.
I am expecting a DIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Yateley solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Yateley solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
I have a mortgage with Coventry BS for my property in Yateley. Conveyancing has been completed months ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Coventry BS?
Your original mortgage agreement with Coventry BS will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. It may be that Coventry BS will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Coventry BS directly. It should not be necessary to do this via a Coventry BS conveyancing panel lawyer.
After much negotiation I have agreed a price on a house in Yateley. My financial adviser recommended their conveyancers. I paid an advanced payment of £150. Shortly after, the property lawyer contacted me to say that they were not on the TSB 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 TSB 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.
Various internet forums that I have come across warn that are the number one cause of obstruction in Yateley house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to be the root cause of delay in conveyancing in Yateley.
Can you confirm the spectrum of conveyancing done by Yateley conveyancing companies?
Most Yateley conveyancing organisations tend to conduct various assistance to domestic and agricultural land owners, sellers, buyers, landlords and tenants which may include:
Property sale conveyancing in Yateley and wider afield
Private residential purchase conveyancing in Yateley and nationwide
Equity transfer between partners and families Council Home Right-to-Buy Scheme Yateley conveyancing for Employee Relocation conveyancing schemes in and outside of Yateley Shariah Compliant Islamic Conveyancing