I am purchasing a leasehold flat in Yeading. My Solicitor is not on the bank conveyancing list. Can I still continue with my Yeading conveyancing solicitor even though they are excluded from the bank list of approved lawyers?
You must appoint a property lawyer to complete the formalities if you require a loan to purchase your property. The conveyancer will conduct all the necessary due diligence on the property, ensuring that you’re properly registered as the owner and ensure that all the required mortgage paperwork is in order. You may select a Yeading solicitor of your choice. However, where the solicitor selected is not a member of the mortgage company conveyancing panel supplemental costs will be levied as separate legal representation will be need by the bank. Conveyancing panel applications can be submitted, so provided your solicitor has not in the past applied for membership they should take the opportunity to apply.
My house in Yeading is up for sale and I have accepted an offer. Does my property lawyer need to be required to be on the Yorkshire BS conveyancing panel in order to deal with the discharge of my mortgage?
Ordinarily, even if your lawyer is not on the Yorkshire BS 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 panel criteria fairly frequently at the moment.
is it true that all Yeading solicitors on the Principality conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Principality conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
We have a mortgage agreed in principle with Coventry BS. Yeading conveyancing solicitors are instructed. What is the average time that one could expect to receive a mortgage offer from Coventry BS?
There is no definitive answer here. Have Coventry BS conducted the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
My fiancee and I are in the throws of viewing houses in Yeading and I am about to put in an offer. Is it premature to have a solicitor in place? I am planning to take a home loan with Virgin Money.
You should start obtaining conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their contact information on to the selling agent. Given that you are seeking a mortgage with Virgin Money, make sure you remember to check that your lawyer is on the Virgin Money conveyancing panel.
I have been on the look out for a leasehold apartment up to £195,000 and found one round the corner in Yeading I like with amenity areas and railway links in the vicinity, the downside is that it only has 61 remaining years left on the lease. I can't really find anything else in Yeading for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
If you need a home loan the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you could ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.
My step-mother completed her conveyancing in Yeading 7 years past. She has been married, widowed and has recently married again. She now wishes to the sell the Yeading property. I suspect that she will simply be need to supply copies of the marriage certificates to the conveyancing practitioner however she is concerned it will delay the sale of the house. Should she appoint a solicitor to update the title information for the house?
It is not absolutely necessary to update the title for the property on the basis that you have the proof needed to show how the change of name resulted.
Any purchaser’s property lawyer should examine the registered entries and request evidence to establish the change of name e.g. marriage certificates.