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The conveyancer my husband and I wanted to use for conveyancing on a purchase said she would charge more if my mortgage is with NRAM Ltd due to their difficult processes! Am I likely to be frustrated using NRAM Ltd? Any comments will be appreciated
NRAM Ltd conveyancing requirements for their panel are no better or no more complicated than most lenders.
It is the case now the CML Handbook, the "bible" used by solicitors to establish lender requirements, is different for each lender.
It is not clear if your lawyer is on the NRAM Ltd conveyancing panel. If they are not, this does add further risk of delay as NRAM Ltd will appoint their own solicitors to look after their interest.
My wife and I changing mortgage lender for our penthouse with NRAM Ltd. We have a son 18 who lives with us. The solicitor on the NRAM Ltd conveyancing panel requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this form unique to the NRAM Ltd conveyancing panel as he did not need to sign this form when we remortgaged 3 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your NRAM Ltd conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to NRAM Ltd .This is solely used to protect the NRAM Ltd if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of NRAM Ltd had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I am buying a flat and require a conveyancing solicitor in Newcastle who is on the NRAM Ltd approved. Could you point me in the right direction as regards a firm?
Our service is a directory service for firms who wish to be listed as being on the approved conveyancing panel for NRAM Ltd . We don’t recommend any particular firm.
We're in Wales, First timers purchasing with a mortgage (lender is NRAM Ltd , but our lawyer is on the NRAM Ltd conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the NRAM Ltd conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer should guarantee a time-frame for your conveyancing due to third parties outside of our control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain
We are getting a further advance on our mortgage from NRAM Ltd as we wish to carry out a loft conversion to our home. Do we need to appoint a solicitor on the NRAM Ltd conveyancing panel to deal with the legals?
NRAM Ltd would not normally appoint firms on their approved list of lawyers to deal with such a matter. If they did require any legal work then you would need to ensure that such a lawyer was on the NRAM Ltd list
I am buying a property where the roof has a solar panel. NRAM Ltd have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is NRAM Ltd your lawyer must to check the NRAM Ltd conveyancing instructions contained in the Part of CML Handbook for NRAM Ltd . The CML Handbook contains minimum requirements for solar panel roof-space leases, and solicitors are required to report to NRAM Ltd where a lease does not meet these requirements. The requirements relate to the installation of panels on properties in England and Wales. The CML are developing guidance for Northern Ireland and Scotland.
I was told two weeks ago that my mortgage has been agreed
to by NRAM Ltd. Is it usual for NRAM Ltd to only issue the offer once my
solicitor is approved on their conveyancing panel?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for NRAM Ltd to deal with your lawyers application to be on the NRAM Ltd conveyancing panel. There's no guarantee that your solicitors will be accepted.