My partner and I are planning to purchase a house in Houghton Regis and are in fact using a Houghton Regis conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Norwich and Peterborough Building Society have this evening contacted us to advise us that there is now an issue as our Houghton Regis lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property requiring a mortgage it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Houghton Regis lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Having invested time reading moneysavingexpert.com for a recommended lawyer in Houghton Regis, most comment that I must use a CQS accredited solicitor. Can you explain what CQS is?
Houghton Regis Conveyancing Quality Scheme law firms have been granted certification under the Law Society's Scheme (CQS) CQS was established to establish evidence of quality standards in the in the legal transfer of properties. CQS enables buyers and sellers to recognise practices that provide a quality residential conveyancing. Houghton Regis is one of locations in England and Wales in which accredited firms are based. The scheme requires solicitors to undergo a strict assessment, compulsory training, self-certification, random audits and annual reviews in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Building Societies Association.
My wife and I buying a 3 bedroom semi in Houghton Regis. Our aim is to carry out an extension to the side at the property.Will legal conveyancing on the property include checks to determine if these works were previously refused?
Your conveyancer will check the registered title as conveyancing in Houghton Regis can sometimes reveal restrictions in the title deeds which prevent categories of works or need the permission of another owner. Certain additions require local authority planning consent and approval in accordance building regulations. Many locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
I am the only beneficiary of my late grandmother’s will and I have everything in my name alone, including the house in Houghton Regis. Conveyancing formalities meant that the Land Registry date was in June. I want to move. I do know about the CML six month 'rule', which means that my proprietorship could be treated the same way as if I'd bought the property in June. Do I have to wait 6 months to sell?
The CML handbook requires conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be impacted by that. Some mortgage companies would take a pragmatic view as this provision chiefly exists to identify subsales or the flipping of property.
I was told three weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Houghton Regis is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
I require expedited conveyancing in Houghton Regis as I am faced with pressure to complete in less than 2 weeks. Thankfully I do not require a mortgage. Is it possible to decline from having conveyancing searches to save fees and time?
If.Given you are are a cash purchaser you are at liberty not to do searches although no solicitor would suggest that you don't. With lots of history conveyancing in Houghton Regis the following are examples of issues that can crop up and therefore impact future mortgageability: Enforcement Notices, Overdue Charges, Outstanding Grants, Unadopted Roads,...
I have been on the look out for a flat up to £245,000 and identified one round the corner in Houghton Regis I like with amenity areas and railway links nearby, however it only has 52 years on the lease. There is not much else in Houghton Regis suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan that many years may be problematic. Discount the offer by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the existing lease with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Are all Houghton Regis solicitors on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can pop into your high street bank branch in Houghton Regis. Chances are that they can recommend conveyancing solicitors in Houghton Regis