My fiance and I are looking to buy a house in Cheddleton and are in fact using a Cheddleton conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Godiva Mortgages Ltd have this evening contacted us to inform me that they have now hit a problem as our Cheddleton lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Cheddleton lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My husband and I are refinancing our apartment in Cheddleton with Nottingham. We have a son 18 who lives at home. Our solicitor requested us to identify anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the flat is repossessed. I have two questions (1) Is this document specific to the Nottingham conveyancing panel as he never had to sign this form when we purchased 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Nottingham. This is solely used to protect Nottingham if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Nottingham had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
It has been three months following my purchase conveyancing in Cheddleton 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 asset 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 done on a property in Cheddleton before retaining lawyers. I have been advised that there is a flying freehold element to the property. The surveyor advised that some banks tend not issue a loan on such a home.
It varies from the lender to lender. Santander has different requirements from Nationwide. Should you wish to call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Cheddleton. Conveyancing will be smoother if you use a solicitor in Cheddleton especially if they are familiar with such properties in Cheddleton.
Are there any apps to assist me to search for a Cheddleton law firm on the Barclays conveyancing panel? I drive a motor bike and am happy to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the search on this page. Please select a mortgage company and your location and you will see a number of Cheddleton conveyancing lawyers based on proximity. We have detailed some Cheddleton conveyancing firms at the bottom of this page and you can telephone them to verify if they are on the Barclays panel
My husband and I are buying a 2 bedroom flat in Cheddleton. When we first instructed conveyancer, we were told they were on all mainstream lender panels. Our financial adviser contacted us just now to advise that they are not on the Lloyds approved list. If it turns out to be true, what should we do? Should we just choose a different conveyancing practitioner that is on their panel or should we cover the costs for separate representation, with Lloyds selecting their own approved lawyer.
If you are buying a property with the assistance of a mortgage it is normal for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a solicitor has to be on that lender's list of approved lawyers. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the solicitor has to fulfill. Some mortgage companies now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should call Lloyds to discover if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Lloyds's conveyancing panel as you are at liberty to use your preferred Cheddleton lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.