I am expecting a offer of a home loan from Lloyds. My intention is to use a Licensed Conveyancer in Felinheli. Does the Lloyds Solicitor panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My wife and I intend to remortgage our flat in Felinheli with Aldermore. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have a couple of concerns (1) Is this document specific to the Aldermore conveyancing panel as he did not need to sign this form when we bought 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Aldermore. This is solely used to protect Aldermore if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Aldermore had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
We are expecting a mortgage offer soon. The lender mentioned the loan came with free conveyancing. Does this mean I have to use their panel lawyer as I would much rather use a Felinheli based conveyancing firm?
Do check but the chances are that appoint one of their panel conveyancers if you accept the "fee-free" deal. Contact the mortgage company to see if they offer you a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case you could put that amount towards the cost for your conveyancing solicitor in Felinheli.
We previously selected solicitors with offices in Felinheli on the Principality solicitor panel. They are now charging me a further charge for handling the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. The fee is not dictated by Principality but by your Felinheli lawyer. Some firms on the Principality panel will charge ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
I have paid off my mortgage with Santander. I assume I don't need a Felinheli property lawyer on the Santander panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Santander 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 Santander mortgage from the register. Santander, 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 Santander has sent the Land Registry the discharge electronically, and
- Santander has instructed the Land Registry to do so
I am due to exchange contracts on my house. I had a double glazing fitted in August 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, HSBC are being pedantic. The Felinheli solicitor who is on the HSBC conveyancing panel is happy to accept ‘lack of building regulation’ insurance but HSBC are requiring a building regulation certificate. Why do HSBC have a conveyancing panel if they don't accept advice from them?
It is probably the case that HSBC have referred the matter to their valuer. The reason why HSBC may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been on the look out for a ground for flat up to £245,000 and identified one round the corner in Felinheli I like with amenity areas and station in the vicinity, the downside is that it only has 52 years on the lease. There is not much else in Felinheli for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a home loan the remaining unexpired lease term may be an issue. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for a minimum of twenty four months you may ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer concerning this.
Our offer on semi in Felinheli was agreed to, the vendor does however have a connected purchase. The owners have submitted an offer on a property, however it’s not been accepted yet, and are looking at other apartments in the pipeline. I have instructed a nearby conveyancing solicitor in Felinheli. What should be my next step? At what stage should I apply for the mortgage with Nationwide?
It is standard to have concerns where there is an associated chain as you are unlikely to want to incur costs prematurely (mortgage application is approx one thousand pounds, then survey, Felinheli conveyancing search fees, etc). The first thing to do is check that your property lawyer is on the Nationwide conveyancing panel. Concerning the subsequent steps this very much depends on the specifics of your transaction, desire for the property and on the state of the market. In a hot market the majority of buyers would apply for a home loan with Nationwide and pay for the survey and only if it comes back ok would they pay their lawyer to press on with the conveyancing in Felinheli.