We are purchasing a 3 bedroom flat in Clent with a mortgage. We have a Clent conveyancer, but the lender says she’s not on their "panel". It seems we have little option but to appoint one of the bank panel conveyancing practices or keep our Clent conveyancing practitioner and pay for one of their panel firms to act for them. This seems very unfair; can we not insist that the mortgage company use our Clent conveyancing practitioner ?
No, not really. Your mortgage offer 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. Another option that might be available is for your Clent conveyancing solicitor to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Clent? What am I being asked for?
It is indeed that case that these requests have nothing to do with conveyancing in Clent. However these days you will not be able to proceed with any conveyancing transaction in the absence providing evidence of your identity. This usually takes the form of a either your passport or driving licence as well as a bank statement. Remember if you are providing your driving licence as proof of ID it needs to be both the paper part as well as the photo card part, one is not sufficient without the other.
Proof of your source of money is required in accordance with the Money Laundering Regulations. Don’t be offended when you are asked to produce this as your conveyancing solicitor will need to retain this information on file. Your Clent conveyancing solicitor will require evidence of proof of funds prior to accepting any money from you into their client account and they may also ask further questions concerning the source of funds.
My wife and I have arranged a further advance on our home loan from HSBC as we want to carry out alterations to our property in Clent. Are we obliged to appoint a local Clent solicitor on the HSBC conveyancing panel to handle the legals?
HSBC do not ordinarily appoint firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the HSBC conveyancing panel.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Clent bank branch on various occasions and was advised it wasn't an issue and they will lend. My Clent conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancer has to follow the CML Handbook section two conditions for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I was told four weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Clent is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a straight forward, no chain conveyancing. Clent is the location of the property. What do you suggest?
Flying freeholds in Clent are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Clent you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Clent 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 property.
We're FTB’s - agreed a price, but the agent has warned us that the owners will only move forward if we appoint the agent's preferred solicitors as they need a ‘quick sale’. My instinct tells me that we should use a local solicitor with experience of conveyancing in Clent
It is unlikely the sellers are behind this. If they desire ‘a quick sale', turning down a genuine purchaser is not the way to achieve this. Speak to the owners direct and make sure they understand (a)you are genuine buyers (b)you are ready to progress, with mortgage lined up © you do not need to sell (d) you intend to proceed fast (e)but you are going to appoint your own,trusted Clent conveyancing solicitors - rather thanthose that will earn the negotiator at the agency a introducer fee or hit his conveyancing targets set by corporate headquarters.
My aim is to purchase a garden flat in Clent. Conveyancing solicitor has been awaiting, from the seller, building insurance paperwork. I was told today I was advised that the seller must send the insurance paperwork for the flat above in addition. Why would my property lawyer need to review the insurance for the other flat? Is it really necessary? We have been stalled for the previous month…
It is not impossible in leasehold conveyancing in Clent to discover Conveyancing in Clent in a minority of cases reveals that the lease provides for the leasehold owners to insure their individual flats rather than the landlord insuring the complete block - which is clearly better. Do check with your conveyancing practitioner but it would appear that your property lawyer is looking to verify that the entire building is insured. Insuring a ground floor flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be reinstated for lack of insurance.