We are buying a newbuild apartment in Langley with a residential mortgage from Lloyds TSB Bank.We use our Langley conveyancing solicitor but Lloyds TSB Bank informed us he's not on their "panel". It seems we are left with little choice but to instruct a Lloyds TSB Bank panel firm or retain our preferred solicitor and pay for a Lloyds TSB Bank panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Lloyds TSB Bank use our lawyer?
No, not really. The loan offered to you contains various provisions, a common one being that solicitors needs to be on the Lloyds TSB Bank approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Lloyds TSB Bank
I am the single beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Langley. The Langley property was put into my name in November. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my property ownership could be regarded the same way as if I'd bought the house in November. Is the property unsalable for six months?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. Some banks would take a pragmatic view as this obligation is chiefly there to capture subsales or the flipping of property.
Is it the case that all Langley solicitors on the Nationwide conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nationwide approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
I am buying a property in Langley. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Skipton be concerned?
Given that your lender is Skipton your lawyer must check the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Skipton. The CML Handbook stipulates minimum specifications for solar panel roof-space leases, and conveyancers are required to report to Skipton where a lease does not satisfy these specifications. The conditions relate to the installation of panels on properties countrywide and is not limited to Langley.
I have todaydiscovered that Stirling Law have closed. They carried out my conveyancing in Langley for a purchase of a freehold house 18 months ago. How can I be sure that the property is in my name in the name of the previous owner?
The easiest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Langley conveyancing specialists.
I am buying a new build apartment in Langley. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Langley
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Please confirm the Lease plans are surveyor prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan. Please supply evidence that the form of Lease proposed has been approved by the Land Registry.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Langley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Langley are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Langley you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Langley may determine 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 property.
I need to retain a conveyancing solicitor for residential conveyancing in Langley. I happened to stumble across a site which seems to have the ideal solution If there is a chance to get all this stuff completed via web that would be preferable. Do I need to be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?