I can't travel far from Cleator Moor. Is there a reason why all Cleator Moor lawyers are not on all lender panels?
Pre- 2008 most mortgage companies exhibited an approach to risk which is different than today. The financial regulator in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the conveyancing practitioners on your panel. Consequently, mortgage companies have since looked to extract more data from law firms concerning their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have found themselves removed from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of volume of transactions the lenders set.
Are all Cleator Moor Conveyancing Quality Solicitors on the Co-operative conveyancing list of approved solicitors?
A selection of banks and building societies now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I am purchasing a property in Cleator Moor. One unusual aspect is that the roof has a solar panel. Lloyds 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 Lloyds your lawyer must follow the conveyancing requirements outlined in Part two of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook contains minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Lloyds where a lease fails to satisfy these provisions. The requirements relate to the installation of panels on properties countrywide and is not isolated to Cleator Moor.
RBS have agreed my home loan in principle, my bid on a apartment in Cleator Moor has been agreed to, now what?
The property agent will need to know who your solicitors are (make sure the property lawyers are on the lender’s panel). Call up RBS or your broker and finalise any appropriate documentation. RBS will instruct a valuer who will get in contact with the estate agent or vendor to book an appointment. Once carried out (assuming no problems) it takes on average a week to receive the mortgage offer. RBS will send the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Cleator Moor.
It has been four months since my purchase conveyancing in Cleator Moor completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. 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'm purchasing a new build house in Cleator Moor with a loan from Yorkshire Building Society. The developers would not budge the price so I negotiated 6k of additionals instead. The property agent advised me not to tell my lawyer about the deal as it will put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Due to the advice of my in-laws I had a survey completed on a property in Cleator Moor prior to instructing solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some lenders tend not give a mortgage on such a premises.
It depends who your proposed lender is. Lloyds has different requirements for example to Halifax. Should you wish to telephone 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 Cleator Moor. Conveyancing may be slightly more expensive based on your lender's requirements.
How does one as executor remove a deceased person's name from the title deeds for a property in Cleator Moor?
If a Cleator Moor property is jointly owned and one of the owners dies, their name will not automatically be removed from the title deeds. You are not required to remove their name as in the event of a sale you would just be required to evidence why the co proprietor is missing from the conveyance, such as a grant of probate.
With a view to making the sale conveyancing smoother for the sale of the property you may arrange to have the deceased name removed from the title entries by submitting an application to HMLR with evidence of the death. There is no charge from the Registry for this service.