I am buying an apartment in Devon. My Solicitor is not listed on the lender solicitor panel. Can I still continue with my Devon conveyancing solicitor notwithstanding that they are not on the lender list of approved lawyers?
You will need to appoint a conveyancing practitioner to deal with the formalities when you need a mortgage to purchase your property. They will conduct all the essential investigations on the property, ensuring that you will be registered as proprietor and ensure that all the required mortgage paperwork is dealt with. You can select a Devon conveyancer of your choice. However, where the lawyer appointed is not a member of the lender conveyancing panel supplemental costs will be incurred as separate legal representation will be need by the mortgage company. Lender panel applications may be submitted, so if your lawyer has not in the past sought membership they should do so.
I am only a couple days away from an exchange on a house in Devon and my parents have sent the ten percent deposit to my solicitor. I am now advised that as the deposit has not arrived from me my lawyer needs to make a notification to my mortgage company. I am advised that, in also acting for the lender he must inform them that the balance of the purchase price is not just from me. I informed the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
The lawyer is obliged to clarify with the bank to ensure that they are aware that the balance of the purchase price is not from your own resources. The solicitor can only disclose this to your lender if you agree, failing which, your lawyer must cease to continue acting.
The Devon conveyancing firm that I recently instructed on my purchase in Devon have suddenly shut down. I chose them because I needed a solicitor on the Nottingham conveyancing panel and my previous Devon lawyer was not. I gave my credit card details for them to take one hundred and fifty pounds for searches. What should be my next steps?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Nottingham conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers should be in a position to help.
I'm the single recipient of my late mum's estate and I have everything in my name alone, including the my former home in Devon. Conveyancing formalities meant that the Land Registry date was in November. I want to move. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in November. Will no one buy the property for half a year?
The CML handbook instructs 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 affected by that. How practical a view lenders take of it, depend on the bank as this provision primarily exists to identify subsales or the quick reselling of properties.
Is it correct that all Devon CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
A selection of lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to join their approved list of firms.
is it true that all Devon conveyancing solicitors on the Leeds Building Society conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Leeds Building Society conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Some banks do list licenced conveyancers on their panel and in such a situation the firms would be regulated by the Council of Licensed Conveyancers.
I purchased my flat on 2 September and the transaction details is yet to be on the land registry website. Need I be worried? My conveyancing solicitor in Devon said it will be registered in less than a month. Are transfers in Devon particularly slow to register?
There is nothing unique when it comes to conveyancing in Devon registration formalities. As opposed to being determined by geographic area, timeframes can adjust subject to the party submitting the application, whether there are errors and whether the Land registry communicate with any 3rd persons or bodies. Currently roughly three quarters of such applications are fully dealt with in less than three weeks but occasionally there can be extensive hold-ups. Historically registration is effected once the new owner has moved in to the property so an expedited registration is not always top priority yet where it is urgent that the the registration takes place urgently then you or your lawyers could communicate with the Registry to express the reasoning for the application to be prioritised.
What does commercial conveyancing in Devon cover?
Devon conveyancing for business premises covers a wide array of services, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.