Me and my fiance are purchasing a 3 bedroom flat in Costessey with a mortgage. We like our Costessey conveyancer, however the mortgage company advise she’s not on their "panel". It appears that we have no choice but to appoint one of the bank panel firms or keep our Costessey property lawyer as well as pay for one of their panel lawyers to act for them. This seems very unfair; are we not able to insist that the bank use our Costessey lawyer ?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Costessey conveyancing lawyer to apply to be on the conveyancing panel.
Are the Costessey conveyancing solicitors identified as being on the Barclays conveyancing panel, together with their details provided by Barclays?
Costessey conveyancing firms themselves provide us confirmation that they are on the Barclays conveyancing panel as opposed to being supplied with a list from Barclays directly.
I have paid off my mortgage with Bank of Ireland. I assume I don't need a Costessey conveyancer on the Bank of Ireland panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Bank of Ireland 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 Bank of Ireland mortgage from the register. Bank of Ireland, 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 Bank of Ireland has sent the Land Registry the discharge electronically, and
- Bank of Ireland has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Costessey off the council. I have a mortgage agreed with Lloyds. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Lloyds, you will need to appoint a solicitor on the Lloyds conveyancing panel.
The formalities of my remortgage has taken place for my property in Costessey. Conveyancing was a necessary evil but I would like to complain about the lender. How do I make a complaint?
Almost all banks and building societies have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Department at head office. In most cases complaints to a lender are resolved very quickly. If you feel the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I require expedited conveyancing in Costessey as I have an ultimatum to exchange contracts within one month. A mortgage is not required. Can I escape the need for conveyancing searches to save fees and time?
If.Given you are are a mortgage free buyer you have the choice not to have searches carried out although no conveyancer would suggest that you don't. Drawing on our experience of conveyancing in Costessey the following are examples of what can appear and therefore affect market value: Refused Planning Applications, Outstanding Fees, Outstanding Grants, Road Schemes,...
I am purchasing a new build house in Costessey benefiting from help to buy. The builders would not move on the amount so I negotiated £7000 of fixtures and fittings instead. The house builders rep suggested that I not disclose to my conveyancer about this side-deal as it would adversely affect my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
I have been informed by numerous estate agents that it can take six to eight weeks for Costessey conveyancing to complete.This was four weeks ago. The draft contract was only received to my conveyancer last week so does the clock start running now?
One should take with a pinch of salt any assurance as to expedited completion times. Rather you should enquire about the average time it takes for them to complete Costessey conveyancing deals and if they are willing to aim towards an agreed target date for your house move in Costessey