My fiance and I are hoping to buy a newbuild apartment in Little Burstead with a mortgage from Nottingham Building Society.We have a Little Burstead conveyancing solicitor but Nottingham Building Society advised that his firm is not on their approved list of firms. we are left little option but to use a Nottingham Building Society panel solicitor or keep our local solicitor and fork out for one of their panel ones to represent them. We feel as though this is unjust; Can we not simply insist that Nottingham Building Society use our lawyer?
No, not really. The mortgage issued to you contains terms and conditions, a common one being that conveyancers will be on the Nottingham Building Society approved list. in the past, most mortgage companies had large numbers of solicitors 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. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Nottingham Building Society
I happen to be the sole beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Little Burstead. The Little Burstead property was put into my name in September. I plan to dispose of the house. I understand that there is a CML six month 'rule', meaning my property ownership may be regarded the same way as though I had purchased the house in September. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be affected by that. How practical a view mortgage companies take of it, depend on the bank as this requirement is primarily there to identify the purchase and immediately sell or the flipping of properties.
Is it correct that all Little Burstead CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing panel?
A selection of lenders now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of firms.
We previously chose conveyancing lawyers located in Little Burstead on the Santander solicitor panel. They have just invoiced me an additional sum for dealing with the Santander mortgage. Is this a supplemental conveyancing fee set by Santander?
Provided it is contained in their Terms of Engagement or estimate then yes your lawyer may levy a fee for this. This charge is not set by Santander but by your Little Burstead lawyer. Some firms on the Santander panel will levy ’dealing with mortgage’ fee but plenty of practices incorporate it on their overall fee.
It has been 3 months following my purchase conveyancing in Little Burstead concluded. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. 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 asset 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'm converting the mortgage on my primary house to a buy to let mortgage with Halifax and intend to use the remaining equity as a down payment on another house. The neighborhood we are looking at is Little Burstead. Will your conveyancers be able to act for the two mortgage companies and link together the conveyances?
Make use of our search tool on this site to be sure that the conveyancers are approved by both banks. Having checked that they are the solicitor should be able to simultaneously deal with the two conveyancing matters but you should have a chat with you solicitor and make clear your expectations and needs.
My brother has recommend that I instruct his conveyancing solicitors in Little Burstead. Should I use them?
No doubt the best way to choose a conveyancing solicitor is to get referrals from friends or relatives who have actually experience in using the conveyancer that you are considering.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the bank conveyancing panel. My lawyer has said that they are on the bank approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the lender conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the lender solicitor panel.