It has come to my attention via my financial adviser that my County Durham lawyer is not on the lender Solicitor panel. What can I do to check?
You need to contact your County Durham lawyer directly. You lawyer should advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
We're in County Durham, First timers buying with a mortgage (lender is Coventry BS , and our lawyer is on the Coventry BS conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Coventry BS conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
Have just purchased a repossessed house at auction in County Durham. Conveyancing is needed. What are my next steps?
Now that you have legally committed yourself to purchase you will need to instruct a conveyancing lawyer quickly as you will have a pending deadline in which to complete the property. All auction property will have a corresponding legal pack. This will likely include evidence of title and search results. In the case of leasehold premises the auction papers should include a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You need to give this to the solicitor working for you as soon as possible. You also need to ensure that that you have the requisite funding organised to complete the transaction on the set completion date.
I am the sole recipient of my late grandmother’s estate with all property in now in my sole name, including the house in County Durham. The County Durham property was put into my name in October. I plan to dispose of the property. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership could be regarded the same way as though I had purchased the property in October. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be impacted by that. Some banks would take a pragmatic view as this obligation is chiefly there to identify the purchase and immediately sell or the quick reselling of properties.
Intending to buy a flat in County Durham. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the County Durham lawyer is on the UBS conveyancing panel.
Are there restrictive covenants that are commonly picked up as part of conveyancing in County Durham?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in County Durham. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a property in County Durham before instructing lawyers. I have been told that there is a flying freehold element to the house. The surveyor advised that some banks tend refuse to grant a mortgage on this type of house.
It depends who your proposed lender is. Lloyds has different instructions for example to Birmingham Midshires. If you e-mail us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in County Durham. Conveyancing may be slightly more expensive based on your lender's requirements.
I am buying a maisonette mortgage free. My lawyer has been given with 2 distinct proof of photo identification, bank statement, numerous utility bills. Now he needs a copy from a probate lawyer stating that the money is in order and that it has come from inheritance and not selling fake watches.
For some years now requires conveyancing solicitors as well as banks, building societies and other financial institutes to obtain satisfactory evidence of the identity of the client. This is because solicitors who deal with money and property on behalf of their clients can be used by criminals wishing to launder money. In order to comply with the law of money laundering, your County Durham conveyancing lawyer will need to obtain evidence of your identity as as well as make sure that your funds are legitimate.