I am progressing with the sale of my apartment in Barlaston and Tittensor and the estate agent has just e-mailed to warn that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only deal with solicitors on their conveyancing panel. On what basis would a leading lender only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Barlaston and Tittensor ?
UK lenders have always had an approved set of law firms that can act for them, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
Me and my fiancee are buying our first home. Our conveyancer has e-mailedto check if we wish to order supplemental conveyancing searches. We are really unsure what's appropriate for conveyancing in Barlaston and Tittensor
The range of Barlaston and Tittensor conveyancing searches depends entirely on the premises, the location, the likelihood of any of these risks, your knowledge of the region and risks, your overall appetite to risk. What is important is that you properly appreciate what information the searches could provide. Then you can decide if you consider that you need that information. Where you are unclear, ask your lawyer to offer guidance.
In what way does my ID and proof of funds have anything to do with my conveyancing in Barlaston and Tittensor? Is this really necessary?
Barlaston and Tittensor conveyancing solicitors and indeed property practitioners throughout the UK have an obligation under money laundering regulations to check the identity of any client in order to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified ID; proof of identity (typically a Passport or Driving Licence) and proof of address (typically a Utility Bill no older than three months).
Proof of source of monies is also necessary under the money laundering statutes as lawyers are mandated to ensure that the funds you are using to purchase a property (whether it be the deposit for exchange or the full purchase price where you are buying mortgage free) has originated from an acceptable source (such as an inheritance) and is not the product of criminal activity.
We are getting a further advance on our home loan from Skipton as we intend to conduct renovations to our property in Barlaston and Tittensor. Are we obliged to select a nearby Barlaston and Tittensor solicitor on the Skipton conveyancing panel to deal with the paperwork?
Skipton would not normally require firms on their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Skipton conveyancing panel.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Barlaston and Tittensor solicitor on the Co-operative panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
The mortgage over my property is with Coventry BS for my property in Barlaston and Tittensor. Conveyancing was finalised a year ago. If I am intending to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Coventry BS?
You must advise Coventry BS before letting out your property as this is likely to be a breach of Coventry BS’s mortgage conditions. In many cases banks or building societies 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 solicitor.
My colleague suggested that where I am buying in Barlaston and Tittensor I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
A search of this type is usually included in the estimate for your Barlaston and Tittensor conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Barlaston and Tittensor around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Barlaston and Tittensor Education with maps and statistics, Local Amenities and other useful information concerning Barlaston and Tittensor.
Are there any apps to assist me to search for a Barlaston and Tittensor solicitor on the Chelsea Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 25miles to meet the lawyer.
You can use the tool on this website. Please pick a bank and your location and you will see a number of Barlaston and Tittensor conveyancing lawyers based on proximity. We have detailed some Barlaston and Tittensor conveyancing firms at the bottom of this page and you can ring them to check if they are on the Chelsea Building Society approved list