I am in the process of selling my home in Barnsley and the estate agent has just telephoned to say that the purchasers are switching conveyancer. I am told that this is due to the fact that the bank 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 select for their conveyancing in Barnsley ?
Banks have always had an approved set of law firms that can act for them, but in the last few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any impact on this.
I happen to be the only recipient of my late mum's estate and I have everything in my name alone, including the house in Barnsley. Conveyancing formalities meant that the Land Registry date was in January. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', meaning my proprietorship could be treated the same way as though I had purchased the property in January. Is the property unsalable for six months?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. How practical a view banks take of it, depend on the lender as this provision principally exists to pick up on subsales or the quick reselling of properties.
When it comes to mortgage companies such as TSB, do Barnsley solicitors have to pay a fee to be on the list of approved solicitors?
We are unaware of any lender fees to register on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
We have a mortgage agreed in principle with Kent Reliance. Barnsley conveyancing solicitors are chosen. What is the average time that one could expect to receive a mortgage offer from Kent Reliance?
There is no definitive answer here. Have Kent Reliance completed the survey? Have you advised Kent Reliance as to your lawyers' details and checked that your lawyers are on the Kent Reliance conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
Despite weeks of looking the Title Certificate and documents to our property are lost. The conveyancers who dealt with the conveyancing in Barnsley 5 years ago have long since closed. What are my options?
Nowadays there are duplicates made of almost everything, and your lawyer should be aware exactly where to look for all the appropriate documentation so you can buy or dispose of your property without a hitch. Where copies can’t be found, your lawyer can put in place insurance or indemnities protecting you against future claims on your property.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Barnsley. Conveyancing is daunting 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 conveyancing.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Barnsley
-
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. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
I opted to have a survey completed on a property in Barnsley in advance of appointing conveyancers. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some lenders tend refuse to grant a mortgage on such a property.
It varies from the lender to lender. Bank of Scotland has different requirements from Nationwide. If you call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Barnsley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Barnsley to see if the conveyancing costs will increase in light of this.
What is the reason for my property lawyer requiring various items of identification before I can proceed with selling or purchasing a property in Barnsley?
Barnsley solicitors are duty bound by the Law Society, Solicitors Regulation Authority, HM Land Registry and current AML Regulations to record that the have verified the identity of their clients. It is also sometimes a condition of your mortgage offer. Furthermore they have to complete various forms, particularly those relating to Land Tax and need to have information such as your full names, NI number and date of birth.