My fiance and I are planning to purchase a flat in Cross Keys and have appointed a Cross Keys conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Nottingham Building Society have this morning contacted us to inform me that there is now an issue as our Cross Keys conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also represent the purchaser's lender. 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 mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Cross Keys solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I had a mortgage agreed in principle with Coventry BS. Cross Keys conveyancing practitioners were selected. How long does it take for Coventry BS to issue the offer to the property lawyer?
Some lenders take longer than others. Have Coventry BS completed the valuation? Have you informed Coventry BS as to your lawyers' details and checked that your lawyers are on the Coventry BS conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have paid off my mortgage with Yorkshire BS. I assume I don't need a Cross Keys property lawyer on the Yorkshire BS panel to remove 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
Yorkshire BS have agreed my mortgage in principle, my offer on a house in Cross Keys has been accepted, what are the next steps?
The property agent will need to be informed of your property lawyer's details (ensure that the conveyancing practitioners are on the bank’s panel). Telephone Yorkshire BS or the broker and complete any relevant paperwork. Yorkshire BS will appoint a valuer who will get in touch with the estate agent or vendor to book an appointment. Once conducted (assuming no problems) it takes approximately ten days for the mortgage offer to be issued. Yorkshire BS will send the offer to you and your conveyancing practitioners. The transaction will then take it’s course according the nature and complexity of the conveyancing in Cross Keys.
Despite weeks of looking the Title Certificate and documents to our property are lost. The lawyers who dealt with the conveyancing in Cross Keys 10 years ago are no longer around. What are my options?
You no longer need to have the physical deeds to prove you are the owner of your registered land or premises, given that the Land Registry hold details of all registered land or property electronically.
I am buying my first flat in Cross Keys benefiting from help to buy. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not reveal to my solicitor about this deal as it would affect my mortgage with Alliance & Leicester . 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 need to appoint a conveyancing solicitor for remortgage conveyancing in Cross Keys. I've discover a site which appears to be the ideal solution If it is possible to get all this stuff completed via email that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
What is the best way of identifying a value for money conveyancing in Cross Keys?
First ask your friends and family who they used in the past and if they were happy with the service. Second, look on the web for conveyancing in Cross Keys. Phone two or three from the list and request that they send you their conveyancing charges and speak to the lawyer who will conduct your conveyancing before you commit. Third is to make use of this site to assist you in finding the right solicitors for you based on your unique factors including location,speed, complexity and who your intended mortgage company is.Resist the temptation to appoint £99 conveyancing solicitors in Cross Keys