We are planning to buy a 1 bedroom apartment in Brandon with a mortgage. We have a Brandon solicitor, however the mortgage company says she’s not on their "panel". We have to appoint one of the mortgage company panel firms or retain our Brandon conveyancer as well as pay for one of their panel ones to represent them. We regard this is inequitable; are we not able to require that the mortgage company use our Brandon conveyancing practitioner ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’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. A further alternative is for your Brandon conveyancing solicitor to apply to be on the conveyancing panel.
Are the BSA planning on creating a searchable register to to identify law firms on the Earl Shilton BS conveyancing panel for instance in Brandon?
We would not expect to be advised of any plans on the part of the BSA to promote such a register.
I'm the sole beneficiary of my late mum's will with all property in now in my sole name, including the house in Brandon. Conveyancing formalities meant that the Land Registry date was in July. I want to move. I do know about the CML six month 'rule', meaning my property ownership could be considered the same way as if I'd bought the property in July. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. How sensible a view mortgage companies take of it, depend on the bank as this obligation is principally there to pick up on subsales or the quick reselling of properties.
Is it the case that all Brandon CQS (Conveyancing Quality Scheme) solicitors are on the Coventry BS conveyancing panel?
It is true that some lenders now utilise CQS as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
We have a mortgage agreed in principle with Virgin Money. Brandon conveyancing solicitors are chosen. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money conducted the valuation? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
My partner and I are downsizing from our property in Brandon and according to the buyers it appears that there is a risk of it being built land that was not decontaminated. A high street Brandon conveyancer would know this is not the case. For the life of me I don't know why the purchasers used an internet conveyancing outfit as opposed to a conveyancing solicitor in Brandon. Having lived in Brandon for 5 years we know that this is a non issue. Is it a good idea to contact our local Authority to get clarification that there is no issue.
It sounds as though you may have a conveyancing firm already. What do they say? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I've recently found out that there is a flying freehold element on a house I have offered on last month in what was supposed to be a quick, no chain conveyancing. Brandon is the location of the property. What do you suggest?
Flying freeholds in Brandon are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Brandon you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Brandon may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I'm converting the mortgage on my existing property to a BTL loan with Barclays and I will use the rest of the raised equity towards further house. The area we are interested in is Brandon. Will your lawyers be able to act for both sets of lenders and tie in the two deals?
Make use of our comparison tool on this site to ensure that the conveyancers are approved by both lenders. Having checked that they are your lawyer will be able to tie up the two deals but you should talk with you solicitor and specify your desired outcome and needs.