Unfortunately I am unable to travel far from Belmont. Can you please clarify why all Belmont property lawyers aren't included on all mortgage company panels?
A decade ago most lenders had an attitude to risk which differs from the current day. The Financial Services Authority in 2010 carried out a thematic review into fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Accordingly, lenders have since looked to extract more data from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have been removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the minimum amount of transactions the mortgage companies required.
We wanted to use a property lawyer in Belmont for our house purchase. Our broker informed us that our mortgage lenders The Mortgage Works won't deal with them. Why is this not regarded as unduly restrictive?
A lender will require an approved conveyancer act for it. You would be liable to bear the cost of this. Please make use of our search facility to choose a solicitor to conduct conveyancing in Belmont on the The Mortgage Works member panel.
I happen to be the only recipient of my late father’s will and I have everything in my name now, including the house in Belmont. Conveyancing formalities meant that the Land Registry date was in September. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership may be treated the same way as though I had purchased the property in September. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Some lenders would take a practical view as this provision primarily exists to identify the purchase and immediately sell or the wholesaling and assigning of property.
We have agreed to purchase a house in Belmont. An unusual aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must comply with the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Principality. The Council of Mortgage Lenders’ Handbook includes minimum specifications for solar panel roof-space leases, and lawyers are required to report to Principality where a lease does not comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not isolated to Belmont.
I was told three weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Belmont is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I used Arc property Solicitors a few years ago for my conveyancing in Belmont. Now, I need my files however the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Belmont of the conveyancing firm of solicitors you previously hired, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I decided to have a survey completed on a house in Belmont in advance of retaining conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor advised that some mortgage companies tend refuse to grant a loan on such a property.
It varies from the lender to lender. Lloyds has different requirements for example to Nationwide. If you call us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Belmont. Conveyancing will be smoother if you use a solicitor in Belmont especially if they are accustomed to such properties in Belmont.
How do I identify a Belmont solicitor on the Norwich and Peterborough Building Society conveyancing panel? I have wheels and am willing to travel upto 25miles to meet the solicitor.
Feel free to make use of the search on this page. Please select a bank and your location and you will see a number of Belmont conveyancing lawyers located nearest you. We have detailed some Belmont conveyancing firms towards the end of this page and you can ring them to verify if they are on the Norwich and Peterborough Building Society approved list