My wife and I are buying a ground floor flat in Kings Heath. My Solicitor has never been on on the mortgage company conveyancing list. Can I still use my Kings Heath conveyancing solicitor even though they are excluded from the lender panel of approved conveyancing solicitors?
Various options include
- Proceed with your preferred Kings Heath property lawyer but your bank will need to use a conveyancer on their approved list. This will result in additional cost together with potential delay.
- Appoint a new lawyer to conduct the conveyancing, making sure they are on the lender conveyancing panel.
- Convince your conveyancing practitioner to seek to join the bank panel
My solicitor has identified a a problem with the lease for the flat we are purchasing in Kings Heath. The seller’s lawyers have offered defective title insurance as a solution. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
Notwithstanding that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their specifications 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.
It is 10 years ago since I bought my property in Kings Heath. Conveyancing solicitors have now been retained on the sale but I am unable to track down my title deeds. Will this cause complications?
Don’t worry too much. First there is a chance that the deeds will be kept by your lender or they could be in the possession of the solicitor who oversaw the purchase. Secondly in most cases the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers procuring up to date copy of the land registers. Almost all conveyancing in Kings Heath involves registered property but in the rare situation where your property is not registered it is more of a problem but is not insurmountable.
Do I have to pop into the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Kings Heath so that I can pop in to their offices if necessary.
As opposed to 12 years ago, almost all lenders no longer oblige their conveyancing panel lawyer to witness the borrowers signature. You will still be obliged to provide identification documents and there are still manifest benefits to choosing a local solicitor, in your case a conveyancing solicitor in Kings Heath.
We previously chose conveyancers based in Kings Heath on the Kent Reliance solicitor panel. They are now charging me a supplemental charge for handling the Kent Reliance mortgage. Is this a supplemental conveyancing fee specified by Kent Reliance?
Provided it is contained in their Terms of Engagement or estimate then yes your conveyancer may charge a fee for this. This charge is not dictated by Kent Reliance but by your Kings Heath conveyancer. Numerous firms on the Kent Reliance panel will levy an ‘acting for lender’ fee but many practices incorporate it on their overall fee.
We are getting the release of further monies on our mortgage from RBS as we want to conduct a loft conversion to our home in Kings Heath. Do we need to choose a high street Kings Heath solicitor on the RBS conveyancing panel to deal with the legals?
RBS don't usually require firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
Skipton have agreed my mortgage in principle, my bid on a flat in Kings Heath has been accepted, what happens next?
The property agent will need to be informed of your solicitor's details (be sure the conveyancing practitioners are on the lender’s panel). Telephone Skipton or the financial adviser and complete any appropriate documentation. Skipton will sellect a valuer who will get in touch with the estate agent or owners to book a slot for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight to receive the mortgage offer. Skipton will send the offer to you and your lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Kings Heath.
Will our solicitor be making enquiries about flooding during the conveyancing in Kings Heath.
The risk of flooding is if increasing concern for lawyers dealing with homes in Kings Heath. There are those who acquire a property in Kings Heath, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a various checks that can be undertaken by the buyer or on a buyer’s behalf which can figure out the risks in Kings Heath. The conventional set of property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to discover if the premises has ever been flooded. In the event that flooding has previously occurred and is not notified by the vendor, then a buyer could bring a compensation claim stemming from an inaccurate reply. A purchaser’s solicitors may also conduct an enviro report. This will disclose whether there is any known flood risk. If so, more detailed inquiries will need to be initiated.