I am obtaining a mortgage with Santander. I hope to instruct a Licensed Conveyancer in Ireleth and Askam. Does the Santander Solicitor panel allow for conveyancers regulated by the CLC?
The Santander approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
We expect to receive a AIP from Principality this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Principality recommend any Ireleth and Askam solicitors on the Principality conveyancing panel, or is it better to go independently?
You will need to appoint Ireleth and Askam solicitors independently although you'll need to choose one on the Principality conveyancing panel. The solicitor represents both you and Principality through the process.
I have a mortgage with Principality for my property in Ireleth and Askam. Conveyancing was finalised 12 months ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Principality?
Your original mortgage agreement with Principality will provide that you need their approval in advance of letting out your property as this is likely to be a breach of Principality’s mortgage conditions. In many cases banks or building societies will allow you to rent 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 Principality directly. It should not be necessary to do this via a Principality conveyancing panel firm.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Ireleth and Askam solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Ireleth and Askam surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
It has been four months since my purchase conveyancing in Ireleth and Askam completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Ireleth and Askam is where the house is located. Is there any advice you can impart?
Flying freeholds in Ireleth and Askam are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Ireleth and Askam you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ireleth and Askam may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
How do I search for a Ireleth and Askam solicitor on the Coventry Building Society conveyancing panel? I am a keen cyclist and am happy to travel upto 20kilometers to meet the lawyer.
You can use the tool on this website. Please choose the bank and your location and you will see a number of Ireleth and Askam conveyancing lawyers locally. We have listed some Ireleth and Askam conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Coventry Building Society approved list
My partner and I are buying a 2 bedroom flat in Ireleth and Askam. At the point of instructing our solicitor, they said that they were on all major UK lender panels. The mortgage broker emailed just now to advise that they don't appear to be on the Nationwide approved list. Were it to be true, what should we do? Do we simply find a different solicitor that is on their panel or do we pay for dual representation, with Nationwide appointing their own preferred property lawyer.
Where you are purchasing a property needing a mortgage it is standard for the buyer’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a property lawyer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancing practitioner to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancer has to meet. Some building societies now insist their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your conveyancing practitioner should contact Nationwide and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on Nationwide's conveyancing panel and you may continue to use your own Ireleth and Askam solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another conveyancing practitioner into the mix.