We are purchasing a 3 bedroom apartment in Arthog with a mortgage. We like our Arthog conveyancer, however the mortgage company advise she’s not on their "panel". It appears that we have no option but to select one of the lender panel conveyancing practices or retain our Arthog solicitor as well as pay for one of their panel ones to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Arthog conveyancing lawyer to apply to be on the conveyancing panel.
Completed the sale of my flat in Arthog last April yet the purchaser is Skype messaging every few hours to say their conveyancer needs to hear from mylawyer. What are the post completion sale legalities now that I have sold?
After completion of your house sale your conveyancer is obliged to send the transfer documentation and all additional paperwork to the purchaser's solicitors. Where relevant, your solicitor must also evidence that the home loan has been discharged to the buyers conveyancers. There are no post completion formalities specific conveyancing in Arthog.
I'm the sole recipient of my late mum's will with all property in now in my sole name, including the house in Arthog. Conveyancing formalities meant that the Land Registry date was in October. I plan to dispose of the property. I do know about the Mortgage Lenders six month 'rule', which means that my proprietorship could be considered the same way as if I'd bought the property in October. Do I have to wait 6 months to sell?
The CML handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. Most mortgage companies would take a sensible view as this provision primarily exists to identify the purchase and immediately sell or the flipping of property.
Is it the case that all Arthog CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
I was told three weeks ago that my mortgage has been agreed to by Leeds Building Society. Is it usual for Leeds Building Society to only issue the offer once my solicitor in Arthog is approved on their conveyancing panel? Leeds Building Society have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Leeds Building Society to deal with your lawyer's application to be on the Leeds Building Society conveyancing panel. There's no guarantee that your solicitor will be accepted.
About to purchase a new build apartment in Arthog. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Arthog
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please supply a car parking plan. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I have been recommended by numerous selling agents in Arthog to choose a property lawyer on your site. What’s the financial inducement for Estate Agents to offer your lawyers rather than a competitor’s?
We refuse to offer any financial incentive for sending work to this site. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
Me and my husband are disposing of a Arthog ground floor flat left to us some years ago in 2011. I have over 15 years conveyancing experience and, although retired, wish to do the legal work. The purchaser's conveyancing practitioner has informed me that their building society will not allow us to do our own conveyancing mandating that the funds to be sent to a solicitor's bank account.
Mortgage instructions to property lawyers from all CML members specify that If the vendor is not legally represented the purchaser’s lawyers should check whether the lender needs to be told so that a decision can be made as to whether or not they are prepared to move forward.