I am buying an apartment in Marford. My property lawyer has never been on on the bank approved panel. Is it possible for me to retain my Marford conveyancing solicitor notwithstanding that they are not on the bank panel of approved conveyancing solicitors?
Various options include
- Complete the deal with your existing Marford solicitor but your lender will need to use a lawyer on their approved list. This will result in additional fees and likely frustration.
- Choose a new lawyer to conduct the conveyancing, ensuring that they are on the bank conveyancing panel.
- Convince your solicitor to pull out all the stops to get accepted on the lender’s conveyancing panel
My partner and I are getting closer to an exchange on a flat in Marford and my parents have sent the 10% deposit to my solicitor. I am now advised that as the deposit has been received from someone other than me my solicitor needs to disclose this to my mortgage company. I am advised that, in also acting for the mortgage company he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the lender about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The conveyancing practitioner is legally required to check with mortgage company to make sure that they are aware that the balance of the purchase price is not from your own resources. Your solicitor can only notify this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Completed the sale of my flat in Marford last December but our buyer keeps telephoning daily to moan that their solicitor is waiting to hear from mine. What are the post completion sale formalities following completion?
Post completion of your house sale your conveyancer should send the transfer deeds and all of the paperwork to the purchaser's conveyancer. Depending on the transaction, your lawyer must also confirm that the home loan has been repaid to the buyers conveyancers. There is unlikely to be post completion steps specific conveyancing in Marford.
My grandmother passed away six months ago and as sole heir and executor I was left the house in Marford. The house had a relatively small loan left on it of around £4500. I want to have the title changed into my name whilst I re-mortgage to RBS, pay off the mortgage. Is this allowed?
If you plan to refinance then RBS will require that you use a conveyancer on the RBS conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your RBS conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the RBS mortgage is registered as a charge at the Land Registry.
I am looking for a leasehold apartment up to £245,000 and identified one round the corner in Marford I like with open areas and station nearby, however it's only got 51 years unexpired on the lease. There is not much else in Marford in this price bracket, so just wondered if I would be making a grave error acquiring a lease with such few years left?
Should you require a home loan that many years will likely be a potential deal breaker. Reduce the offer by the amount the lease extension will cost if not already taken into account. If the current proprietor has owned the property for a minimum of twenty four months you can ask them to commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing lawyer concerning this.
My lender have just issued us with a mortgage offer. We appointed a reputable conveyancer in Marford yesterday. Today, our financial adviser contacted us saying that the lender said that we cannot use our solicitor as they aren't on their 'approved list'. As novices, we had no idea that the lender had a say Is this allowed?
You can actually choose any property lawyer you want to choose for your conveyancing in Marford but if your mortgage company aren't happy with them you must pay an extra fee so the mortgage company can appoint their own lawyers. sometimes it is conceivable that your preferred conveyancing firm to get included on to the mortgage company panel. Do make the most of online tools such as lenderpanel.com to find a conveyancing solcitor in Marford on the bank panel. You can go into your local mortgage company branch in Marford. They can recommend conveyancing solicitors in Marford on the approved list.