I am not well enough to travel far from Market Harborough. I would like to know the logic why all Market Harborough property lawyers aren't included on all mortgage company panels?
Pre- 2008 most lenders demonstrated an attitude to risk which is different than today. The FSA in 2010 carried out a thematic review into property fraud which in summary warned lenders: know the conveyancing practitioners on your panel. As a result, mortgage companies have subsequently requiredmore data from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the criteria of volume of transactions the mortgage companies set.
I am planning to acquire a property and need a conveyancing solicitor in Market Harborough who is on the TSB approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for TSB in certain locations such as Market Harborough. We dont recommend any particular firm.
Are all Market Harborough Conveyancing Quality Solicitors on the Leeds Building Society conveyancing list of approved practices?
A selection of lenders now make use of the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation 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 firms wishing to join their approved list of firms.
I have today made my last payment due on my mortgage with Co-operative. I assume I don't need a Market Harborough lawyer on the Co-operative panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Co-operative mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Co-operative mortgage from the register. Co-operative, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Co-operative has sent the Land Registry the discharge electronically, and
- Co-operative has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Market Harborough. I have a mortgage agreed with Yorkshire BS. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Yorkshire BS, you will need to appoint a solicitor on the Yorkshire BS conveyancing panel.
Is it necessary to pay for insurance to address the risk of chancel repairs when buying a house in Market Harborough?
Unless a prior acquisition of the property took place after 12 October 2013 you could take it that lawyers delivering conveyancing in Market Harborough to remain recommending a chancel search and or chancel repair liability insurance.
I opted to have a survey done on a property in Market Harborough prior to instructing lawyers. I have been advised that there is a flying freehold aspect to the property. The surveyor advised that some banks will not grant a mortgage on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different instructions from Halifax. If you contact us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Market Harborough. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Market Harborough to see if the conveyancing will be more expensive.
I have been pointed in your direction by a few estate agents in Market Harborough to locate a property lawyer on your site. What’s the financial incentive for Estate Agents to market your site rather than another?
We refuse to make any financial incentive for pointing buyers and sellers our way. We thought it would be too underhand a fee because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.