Me and my fiance are purchasing a 2 bedroom apartment in Lisvane with a mortgage. We have a Lisvane conveyancer, however the mortgage company says she’s not on their "panel". It seems we have little option but to appoint one of the lender panel conveyancing practices or keep our Lisvane conveyancer as well as pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
No, not really. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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. Another option that might be available is for your Lisvane conveyancing lawyer to apply to be on the conveyancing panel.
What does my ID and proof of funds have anything to do with my conveyancing in Lisvane? Why is this being asked of me?
It is indeed that case that the requirement set out by your lawyer has nothing to do with conveyancing in Lisvane. However these days you will not be able to proceed with any conveyancing process if you have not handing over evidence of your identity. Ordinarily this takes the form of a either your passport or driving licence as well as a bank statement. Please note that if you are providing your driving licence as evidence of identification it must be both the paper part and photo card part, one is not sufficient in the absence of the other.
Evidence of the source of funds is necessary under Money Laundering Regulations. You should not be offended when when this is requested of you as your lawyer must retain this information on file. Your Lisvane conveyancing lawyer will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask further questions regarding the source of funds.
I am the only beneficiary of my late father’s will and I have everything in my name now, including the house in Lisvane. The Lisvane property was put into my name in September. I want to move. I do know about the Mortgage Lenders 6 month 'rule', meaning my proprietorship will be considered the same way as if I'd bought the property in September. Do I have to wait half a year 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 may be affected by that. How practical a view banks take of it, depend on the bank as this provision is primarily there to capture subsales or the flipping of properties.
I was told three weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Lisvane is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their PI Insurance.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
At last I have had an offer on a maisonette in Lisvane agreed to, but there is a chain. The sellers have offered on somewhere, but it’s not yet tied up, and have viewings of other apartments in the pipeline. I have selected a high street conveyancing solicitor in Lisvane. What do I do now? When do I get the mortgage application with Co-operative going?
It is understandable to have apprehensions where there is a chain as you are unlikely to want to incur expenses prematurely (home loan application is approx one thousand pounds, then valuation, Lisvane conveyancing search charges, etc). The first thing to do is check that your solicitor is on the Co-operative conveyancing panel. Concerning the next steps this very much depends on the specifics of your transaction, attraction to this property and on the state of the market. During a hot market many buyers will apply for the mortgage with Co-operative and pay for the valuation and only if it was satisfactory would they pay their conveyancer to move forward with searches.
I require expedited conveyancing in Lisvane as I have pressure to complete within one month. A home loan is not required. Is it possible to avoid the conveyancing searches to save fees and time?
If.Given you are are a mortgage free purchaser you are at liberty not to have searches carried out although no lawyer would recommend that you don't. With lots of history conveyancing in Lisvane the following are instances of what can crop up and therefore affect future saleability: Enforcement Actions, Outstanding Charges, Overdue Grants, Unadopted Roads,...
four months have gone by since my purchase conveyancing in Lisvane concluded. I have checked the Land Registry website which shows that I paid £200,000 when infact I paid £170,000. 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 property 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.
I am looking for Lisvane conveyancing quotes online. Can I be sure that all the Lisvane practices that are listed on your website are on the bank conveyancing panel?
The law firms on our directory have advised us that they are on the mortgage company panel and agreed to advise us to take down their listing in the event of removal off of the lender panel. To date we have not been informed by either a lender or a member of the public that the data about a specific Lisvane firm being on the lender conveyancing panel is incorrect.