We are hoping to purchase a 2 bedroom apartment in Peterlee with a mortgage. We like our Peterlee solicitor, but the bank says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Peterlee lawyer as well as pay for one of their panel firms to represent them. We consider that this is unjust; can we not demand that the lender use our Peterlee conveyancing practitioner ?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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. A further alternative is for your Peterlee conveyancing solicitor to apply to be on the conveyancing panel.
My wife and I purchasing a end of terrace house in Peterlee. The intention is to an extension at the rear at the property.Will the conveyancing process include investigations to see if these works are allowed?
Your solicitor will check the registered title as conveyancing in Peterlee can occasionally reveal restrictions in the title deeds which restrict certain works or necessitated the permission of a 3rd party. Certain works need local authority planning consent and approval in compliance with building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or impact extensions. You should check these issues with a surveyor before you commit yourself to a purchase.
Is it the case that all Peterlee conveyancing solicitors on the Lloyds conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Lloyds approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do allow licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Peterlee bank branch on numerous occasions and was told it wasn't a problem and they will lend. My Peterlee conveyancing solicitor - who is on the mortgage company conveyancing panel- called to say that they would not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the property lawyer is on the bank panel, she or he must adhere to the CML Handbook provisions for the 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 bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I used Stirling Law several years ago for my conveyancing in Peterlee. I now require my papers however the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Peterlee of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am buying my first flat in Peterlee with a mortgage from Virgin Money. The sellers would not move on the amount so I negotiated 6k of fixtures and fittings instead. The estate agent told me not to tell my solicitor about the side-deal as it will affect my loan with the bank. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Peterlee is the location of the property. Can you shed any light on this issue?
Flying freeholds in Peterlee are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Peterlee you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Peterlee may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I need to appoint a conveyancing solicitor for sale conveyancing in Peterlee. I have discover a web site which appears to be the ideal offering If it is possible to get all this stuff completed via phone that would be preferable. Should I be wary? 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?