My mortgage broker says he needs my Harbury solicitor’s panel reference for the Nationwide conveyancing panel. How do I obtain this. I have e-mailed my local Harbury office but they have not responded to me.
You are best placed to get this information from your Harbury lawyer . Most Harbury conveyancing practices will keep a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
I am soon to exchange on the purchase of a house in Harbury but as a result of wreckage from the recent storms I have managed to agree reparation from the current proprietors in the sum of £3k taking the form of a deduction in the price. I had intended this to be dealt with as part of amending the contract but RBS will not agree to this. Should they have been notified?
Your lawyer being on a RBS approved list is obliged to inform RBS of any changes to the purchase price. If you prohibit your lawyer to notify the reduction to RBS then they would have to discontinue acting for you. In addition, RBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Harbury.
I had intended to instruct a conveyancing solicitor in Harbury for our home move. Our broker has since advised us that our mortgage lenders Coventry Building Society won't deal with them. Why is this not regarded as unduly restrictive?
A decade ago most lenders had an appetite for risk which was higher than today. Almost all Harbury conveyancing firms would have been on most lender panels. The Financial Services Authority in 2010 completed a thematic review into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more data from law firms relating to their operations and the individuals who work for them and set certain criteria such a completing on a minimum number of transactions. Many Harbury 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. Harbury is amongst the many locations where the conveyancers showing on our search results are are authorised to act for Coventry Building Society.
Various web forums that I have come across warn that are the number one reason for hinderance in Harbury house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Harbury.
What tools are available to identify a Harbury solicitor on the Lloyds TSB Bank conveyancing panel? I am a keen cyclist and am willing to travel upto 20kilometers to meet the lawyer.
Feel free to make use of the facility on this website. Please select a mortgage company and your location and you will see a number of Harbury conveyancing lawyers based on proximity. We have detailed some Harbury conveyancing firms at the bottom of this page and you can ring them to verify if they are on the Lloyds TSB Bank member panel
Back In 2006, I bought a leasehold flat in Harbury. Conveyancing and Lloyds TSB Bank mortgage organised. A letter has just been received from someone saying they have taken over the reversionary interest in the property. It included a ground rent demand for rent dating back to 1996. The conveyancing solicitor in Harbury who acted for me is not around. Any advice?
The first thing you should do is contact HMLR to make sure that the individual purporting to own the freehold is in fact the registered owner of the freehold reversion. You do not need to incur the fees of a Harbury conveyancing solicitor to do this as you can do this on the Land Registry website for £3. Rest assured that regardless, even if this is the legitimate landlord, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
Harbury Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
-
You should want to find out as much as possible about the managing agents as they can either make your living at the property much easier or a lot more difficult. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to every day issues such as the tidiness of the common parts. Don't be afraid to ask prospective neighbours what they think of them. Finally, investigate as to the dates that the maintenance fees are due to the managing agents and specifically what it includes. What is the yearly maintenance fee and ground rent? Where a Harbury lease has less than 80 years it will affect the salability of the flat. It is worth checking with your lender that they are willing to go ahead with the loan given the lease term. A short lease means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this would cost. Remember, in most cases you would be be obliged to have been the owner of the property for two years before you are legally able to exercise a lease extension.