My wife and I are acquiring a flat in Barnard Castle. My lawyer is not on the lender conveyancing panel. Can I still use my Barnard Castle conveyancing solicitor even though they are not on the bank approved list?
Various options include
- Complete the deal with your preferred Barnard Castle conveyancing practitioner but your mortgage company will need to instruct a property lawyer from their conveyancing panel. The net result is additional charges and likely delay.
- Appoint a new conveyancer to conduct the conveyancing, obviously checking they are on the lender conveyancing panel.
- Convince your lawyer to seek to join the bank panel
My wife and I are acquiring a newly built apartment in Barnard Castle and my solicitor is telling me that she is duty bound to the bank to disclose incentives from the developer. I am under pressure to sign contracts and I would rather not delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Should conveyancers ask for money up-front for my conveyancing in Barnard Castle?
Where you are retaining lawyers for conveyancing in Barnard Castle your solicitor will ask you to provide them with funds to cover the the cost of the conveyancing searches. Generally this is needed to cover the fees of the conveyancing searches. When the deposit is as part of the sale price then this should be needed shortly before contracts are exchanged. Any further balance that is due should be transferred a couple of days prior to the day of completion.
What is the difference between a licensed conveyancer and conveyancing solicitor in Barnard Castle
There are many registered licenced Conveyancers in Barnard Castle and Solicitor firms in Barnard Castle offering conveyancing It is important to make clear that the two are regulated professionals specialising in the legal aspects of the home buying process. Both can handle other property legal work such as remortgage conveyancing, lease extensions and transfer of equity conveyancing.
My partner and I have arranged the release of further funds on our home loan from TSB as we intend to conduct renovations to our house in Barnard Castle. Do we need to choose a nearby Barnard Castle solicitor on the TSB conveyancing panel to handle the paperwork?
TSB would not normally appoint a member of their conveyancing panel to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the TSB conveyancing panel.
I am purchasing a property in Barnard Castle. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Barclays be concerned?
As you are obtaining a mortgage with Barclays your lawyer must check the conveyancing requirements outlined in Part 2 of UK Finance Lenders’ Handbook for Barclays. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Barclays where a lease fails to satisfy these specifications. The requirements relate to the installation of panels on properties countrywide and is not restricted to Barnard Castle.
It has been three months following my purchase conveyancing in Barnard Castle took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I decided to have a survey carried out on a property in Barnard Castle before retaining lawyers. I have been told that there is a flying freehold overhang to the house. Our surveyor has said that some lenders tend refuse to grant a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Halifax. Should you wish to telephone us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Barnard Castle. Conveyancing will be smoother if you use a solicitor in Barnard Castle especially if they are accustomed to such properties in Barnard Castle.