I'm in the process of porting my domestic loan to a Buy to Let Nottingham Building Society mortgage. I have been informed by my broker that I require a solicitor for this. I got in contact with my former Crynant conveyancing practitioner who who conducted the conveyancing when I initially purchased the premises. The costs illustration issued of £550 is surprising as I am not require purchase conveyancing - it’s just a straightforward remortgage.
The estimate fees seem a tad high. If you shop around you may be able to get the conveyancing a bit cheaper by as much as a hundred pounds. That being said, assuming were satisfied with the service the firm gave you mightlive to rue opting for an a cheaper solicitor. Remember to enquire that the conveyancer can act for Nottingham Building Society. Do use our search tool to select a Crynant conveyancing firm on the Nottingham Building Society approved list of lawyers, which can often include conveyancing solicitors in Crynant.
In what way does my ID and proof of funds have anything to do with my conveyancing in Crynant? What am I being asked for?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with before they can accept their conveyancing instruction. The Terms and Conditions that you are required to sign should stipulate this. Your lender will also require certain documents to be checked. Should you refuse to provide ID verification documents, your solicitor would not be able to accept instructions from you.
We're in Crynant, First timers purchasing with a mortgage (lender is Barclays , and our lawyer is on the Barclays conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Barclays conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no conveyancer 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.
Is it the case that all Crynant solicitor practices on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be governed by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the CLC.
My partner and I have arranged the release of further funds on our home loan from Nottingham as we intend to carry out improvements to our property in Crynant. Are we obliged to choose a high street Crynant solicitor on the Nottingham conveyancing panel to deal with the paperwork?
Nottingham do not ordinarily instruct a member of their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Nottingham list.
We have agreed to purchase a house in Crynant. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
As your lender is Lloyds your lawyer must check the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook contains minimum specifications for solar panel roof-space leases, and conveyancing practitioners are required to report to Lloyds where a lease does not comply with these specifications. The requirements relate to the installation of panels on properties countrywide and is not limited to Crynant.
It has been five months since my purchase conveyancing in Crynant took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. 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.
Due to the advice of my in-laws I had a survey completed on a house in Crynant in advance of instructing conveyancers. I have been advised that there is a flying freehold overhang to the property. Our surveyor has said that some banks tend refuse to give a loan on this type of property.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Crynant. Conveyancing will be smoother if you use a solicitor in Crynant especially if they are familiar with such properties in Crynant.