I am selling my apartment in Montacute. Does my conveyancer have to be on the Clydesdale conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Clydesdale conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently at the moment.
My stepmother pointed out to me me that in buying a property in Montacute there may be a number of restrictions as to what one can do in terms of external changes to a property. Is this right?
There are anumerous of properties in Montacute which have some sort of restriction or requirement of consent to perform external alterations. Part of the conveyancing in Montacute should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
It is unclear whether my bank requires a lease extension. I have called into my local Montacute building society branch on a couple of occasions and was told they are content with the situation and they will lend. My Montacute conveyancing solicitor - who is on the lender conveyancing panel- telephoned and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The property lawyer must follow the Council of Mortgage Lenders’ Handbook Part 2 provisions for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Lloyds have agreed my home loan in principle, my bid on a flat in Montacute has been agreed to, what are the next steps?
Your estate agent will wish to be informed of your conveyancer's details (make sure the conveyancers are on the bank’s approved list). Telephone Lloyds or the financial adviser and finish off any appropriate forms. Lloyds will appoint a valuer who will get in contact with the selling agent or vendor to schedule an appointment. Once conducted (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Lloyds will issue the offer to you and your lawyers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Montacute.
Despite weeks of looking the Title Certificate and documents to my home are lost. The conveyancers who dealt with the conveyancing in Montacute 5 years ago are no longer around. What do I do?
Assuming the title is registered the details of your ownership will be recorded by the Land Registry with a Title Number. It is easy to conduct a search at the Land Registry, locate your property and secure current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will in most cases retain a certified duplicate of the Registered Lease and again, a copy can be obtained for a small fee.
Due to the guidance of my in-laws I had a survey completed on a property in Montacute prior to instructing solicitors. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some banks will not give a loan on this type of house.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Halifax. Should you wish to call us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Montacute. Conveyancing will be smoother if you use a solicitor in Montacute especially if they are acquainted with such properties in Montacute.
I need to retain a conveyancing solicitor for remortgage conveyancing in Montacute. I've discover a site which appears to be the ideal answer If there is a chance to get all this stuff completed via phone that would be ideal. Do I need to be concerned? What should out be looking out for?
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?
My husband and I are purchasing a 2 room maisonettein Montacute with a mortgage from a mortgage company. We have selected a solicitor in Montacute yet our lender inform us now that he's not approved on their "panel". Apparently we need to choose one of the our mortgage company panel firms or keep our Montacute conveyancer and pay for one of their panel ones to represent our lender. We feel as though this is unjust; Can we not simply insist that our mortgage company use our Montacute lawyer?
No, not really. The lender mortgage issued is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels, including almost all conveyancing solicitors in Montacute : a mortgagee 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. A further alternative is for your lawyer to apply to be on the conveyancing panel for your lender.