I had intended to instruct a conveyancing solicitor in Goring for our home move. Our financial adviser has since notified us that our mortgage company The Royal Bank of Scotland won't deal with them. Surely this is unduly restrictive?
Before the recession most mortgage companies had an appetite for risk which was higher than today. Almost all Goring conveyancing firms would have been on many mortgage company panels. The FSA in 2010 conducted a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms concerning their operations and their employees and set certain criteria such a completing on a minimum number of transactions. Many Goring conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Goring is one of the thousands of locations where the conveyancers showing on our search results are are authorised to act for The Royal Bank of Scotland.
What is the difference between a licensed conveyancer and conveyancing solicitor in Goring
There are many recorded licenced Conveyancers in Goring and Solicitor practices in Goring who provide Conveyancing services We would stress that the two are supervised by regulatory bodies with both specialising in the legal work in the home buying process. They may both also handle other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
We have agreed to purchase a house in Goring. One unusual aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Santander your lawyer must check the conveyancing requirements contained in Section two of UK Finance Lenders’ Handbook for Santander. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and solicitors are required to report to Santander where a lease fails to satisfy these provisions. The specifications relate to the installation of panels on properties nationwide and is not isolated to Goring.
The mortgage over my property is with Kent Reliance for my property in Goring. Conveyancing has been completed 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Kent Reliance?
Your original mortgage agreement with Kent Reliance will provide that you need their approval in advance of renting your property as this is likely to be a breach of Kent Reliance’s mortgage conditions. It may be that Kent Reliance will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Kent Reliance directly. It should not be necessary to do this via a Kent Reliance conveyancing panel firm.
Various web forums that I have frequented warn that are the main cause of obstruction in Goring conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not figure within the common causes of delays in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Goring.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The solicitors who did the conveyancing in Goring 10 years ago have long since closed. What do I do?
As long as the title is registered the information relating to your proprietorship will be recorded by HMLR with a Title Number. It is easy to conduct a search at the Land Registry, locate your house and secure current copies of the Registered Entries for less than a fiver. Where the property is Leasehold then the Land Registry will usually hold a certified copy of the Registered Lease and again, a copy can be ordered for £20 inclusive of VAT.
Due to the advice of my in-laws I had a survey completed on a property in Goring prior to retaining solicitors. I have been advised that there is a flying freehold element to the property. The surveyor advised that some banks will not give a loan on this type of property.
It depends who your proposed lender is. Santander has different requirements from Halifax. Should you wish to telephone us we can look into this further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Goring. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Goring to see if the conveyancing costs will increase in light of this.
Why do I have to provide my conveyancing practitioner with numerous items of identification ahead of starting selling or purchasing a property in Goring?
Goring solicitors are obliged by the Law Society, Solicitors Regulation Authority, HMLR and current Money Laundering legislation to certify that the have checked the identity of their clients. It is also sometimes a condition of your bank if you are taking a mortgage. In addition they have to complete various forms, particularly those relating to SDLT and need to have information such as your full names, national insurance number and DOB.