It has come to my attention via my IFA that my Potton the law firm I have appointed is not on the mortgage company Conveyancing panel. How can I be sure if this is correct?
Your first step should be to contact your Potton lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they may recommend you to a Potton conveyancing firm that is on the conveyancing panel for your lender.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Potton?
Two types of professional can do conveyancing in Potton namely licenced conveyancers or solicitors. The two can administer the legal services that required to complete the sale or purchase of property. They are both duty bound to handle Potton conveyancing to the same standards and guidelines so you can be sure that your conveyancing will be professionally carried out and that the necessary procedures should be appropriately adhered to.
We previously appointed conveyancers located in Potton on the Virgin Money solicitor approved list. They have just billed me a supplemental charge for dealing with the Virgin Money mortgage. Is this an additional conveyancing fee set by Virgin Money?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your property lawyer can levy a fee for this. This charge is not dictated by Virgin Money but by your Potton property lawyer. Some firms on the Virgin Money panel will levy an ‘acting for lender’ fee and others do not.
The mortgage over my property is with Barclays for my property in Potton. Conveyancing was finalised months ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Barclays?
You must advise Barclays prior to letting out your property as this is likely to be a breach of Barclays’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Barclays directly. It should not be necessary to do this via a Barclays conveyancing panel firm.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Potton?
Its becoming the norm that commercial conveyancing solicitors in Potton will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Potton. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Potton.
For every commercial conveyancing transaction in Potton it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Potton commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Potton.
My wife and I own a semi-detached Edwardian property in Potton. Conveyancing practitioner represented me and Halifax. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the matching property. I'd like to know for sure, how can I find out??
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Potton and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing solicitor who completed the work.
I have been pointed in your direction by two or three local estate agents in Potton to get a quote from a conveyancer using your seach tool. What’s the financial inducement for Estate Agents to market your site ahead of another?
We don’t make any referral fee for sending work in our direction. We found it would be just too difficult to pay a commission as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
My partner and I are purchasing a 2 bedroom flat in Potton. When we first instructed solicitor, they told us that they were on all major UK bank panels. Our financial adviser emailed just now to advise that they don't seem to be on the UBS approved list. If it turns out to be true, what should we do? Do we just find a different solicitor that is on their approved list or do we cover the costs for dual representation, with UBS appointing their own approved solicitor.
When purchasing a property with mortgage finance it is standard for the purchaser’s lawyers to also represent the purchaser's lender. In order to act for a bank or building society a conveyancer has to be on that lender's conveyancing panel. An application has to be made by the property lawyer to the lender to become a member of the lender's panel and there are increasingly strict criteria which the conveyancing practitioner has to satisfy. Some banks now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should call UBS and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on UBS's conveyancing panel as you are at liberty to use your preferred Potton lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.