Me and my husband are acquiring residence in Isle of Dogs. My lawyer has never been on on the lender conveyancing list. Can I still use my Isle of Dogs conveyancing solicitor even though they are excluded from the lender panel?
You have numerous options available to you here
- Proceed with your existing Isle of Dogs conveyancer but your lender will need to use a lawyer from their approved panel. The net result is additional cost and likely interruption.
- Get a fresh conveyancer to act in the purchase, ensuring that they are on the lender conveyancing panel.
- Convince your solicitor to do everything within their powers to get accepted on the bank’s conveyancing panel
Our solicitor has discovered a a legal deficiency with the lease for the apartment we are purchasing in Isle of Dogs. The other side have put forward title insurance as a solution. We are happy with insurance and will pay for it. Our conveyancer says that he must be satisfied that the mortgage company is happy with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the lender does not mean to say that the property will meet their requirements for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook requirements. You and the bank are the client. The appropriate lender requirements must be adhered to.
Is it the case that all Isle of Dogs CQS (Conveyancing Quality Scheme) solicitors are on the Clydesdale conveyancing panel?
A selection of lenders now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of firms.
Last month we had a mortgage agreed in principle with Clydesdale. Isle of Dogs conveyancing solicitors are instructed. How long does it take for Clydesdale to forward the offer to the conveyancer?
Some lenders take longer than others. Have Clydesdale done the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I have paid off my mortgage with Nottingham. I assume I don't need a Isle of Dogs solicitor on the Nottingham panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Nottingham 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 Nottingham mortgage from the register. Nottingham, 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 Nottingham has sent the Land Registry the discharge electronically, and
- Nottingham has instructed the Land Registry to do so
I have been told that property searches are the main reason for hinderance in Isle of Dogs house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays during the legal transfer of property. Searches are not likely to feature in any slowing down conveyancing in Isle of Dogs.
The estate agent has sent us the confirmation of our purchase of a new build flat in Isle of Dogs. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Isle of Dogs
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision. Please confirm the Lease plans are architect prepared.
My husband and I are first time buyers - had an offer accepted, yet the estate agent told us that the owners will only move forward if we use their chosen solicitors as they need a ‘quick sale’. Our preferred option is to instruct a local solicitor with experience of conveyancing in Isle of Dogs
It is unlikely the owners are behind this. If they want ‘a quick sale', taking such a hostile approach to a motivated buyer is not the way to achieve this. Avoid the agents and go straight to the sellers and make the point that (a)you are genuine buyers (b)you are excited to move forward, with finances in place © you are chain free (d) you wish to move quickly (e)but you are going to use your own,trusted Isle of Dogs conveyancing firm - not the ones that will provide the estate agent a referral fee or achieve conveyancing figures demanded by HQ.