My fiance and I are hoping to purchase a home in Codsall and are in fact using a Codsall conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Birmingham Midshires have this evening contacted us to advise us that they have now hit a problem as our Codsall conveyancer is not on their conveyancing panel. What do we do from here?
Where you are buying a property needing a mortgage it is conventional for the purchasers' solicitors to also act for the mortgage company. 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 Quality Scheme. Your solicitor should contact your lender 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 and you may continue to use your own Codsall solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Me and my partner are purchasing a flat in Codsall. It might be a silly question but how we can trust a solicitor? On completion day we have to deposit funds into their account. What protection do we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I have today made my last payment due on my mortgage with Yorkshire BS. I assume I don't need a Codsall property lawyer on the Yorkshire BS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Yorkshire BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Yorkshire BS mortgage from the register. Yorkshire BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Yorkshire BS has sent the Land Registry the discharge electronically, and
- Yorkshire BS has instructed the Land Registry to do so
I recently had an offer accepted on an apartment in Codsall. My financial adviser recommended their conveyancers. I paid an upfront payment of £150. Soon after, the conveyancer called me sheepishly admitting that they were not on the Santander conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Santander panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
three months have gone by since my purchase conveyancing in Codsall completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £180,000. 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 residence 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 am looking for a ground for flat up to £305k and identified one round the corner in Codsall I like with a park and railway links nearby, however it's only got 61 years on the lease. I can't really find anything else in Codsall suitable, so just wondered if I would be making a grave error acquiring a short lease?
If you require a home loan the shortness of the lease will be problematic. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least 2 years you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this matter.
How difficult is it to transfer to a new solicitor as I need to retain one who is on the The Mortgage Works conveyancing panel. I had appointed a high street conveyancing solicitor in Codsall five minutes from me but she is not accepted by The Mortgage Works
It would be our pleasure to assist you select a conveyancing solicitor in Codsall on the The Mortgage Works panel. Please note that the law firms that we list do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Codsall. In making use of the find a conveyancing solicitor tool on this site, you can compare charges for conveyancing solicitors in Codsall and beyond.
Planning to complete next month on a ground floor flat in Codsall. Conveyancing lawyers assured me that they will have a report out to me tomorrow. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Codsall should include some of the following:
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Additions to the property Are pets allowed in the flat? The total extent of the property. This may be the property itself but may include a loft or basement if appropriate. You should be advised what counts as a Nuisance as far as the lease is concerned
Codsall Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to Purchasing
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If a Codsall lease has no more than eighty years it will impact the salability of the property. It is worth checking with your mortgage company that they are willing to lend given the lease term. A short lease means that you will most likely have to extend the lease at some point and it is worth discovering what this will be. For most Codsalllease extensions you will be required to have been the owner of the premises for two years in order to be legally able to extend the lease. What is the name of the managing agents?