I can't travel far from Queenborough. What is the rationale as to why all Queenborough conveyancing practitioners are not on all bank panels?
Pre- 2008 most mortgage companies demonstrated an approach to risk which is different from today. The FSA in 2010 instigated a thematic review into fraud which in summary warned lenders: know the conveyancers on your panel. As a result, lenders have since soughtmore data from law firms about their processes and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have been excluded from lender panels even though they had an exemplary track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms were never going to meet the criteria of amount of transactions the mortgage companies set.
I am told that my conveyancing solicitors will need to check that the building insurance when buying a house in Queenborough. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 15/12/2024, the requirements read as follows :
We had appointed solicitors locally in Queenborough on the UBS solicitor panel. They have just invoiced me a separate sum for handling the UBS mortgage. Is this an additional conveyancing fee set by UBS?
Unfortunately, as long as it is in their Terms and Conditions or estimate then yes your solicitor may charge a fee for this. This fee is not set by UBS but by your Queenborough conveyancer. Plenty of firms on the UBS panel will levy ’dealing with mortgage’ fee but plenty of firms include it on their overall fee.
Planning on purchasing a maisonette in Queenborough. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the HSBC conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Queenborough conveyancer is on the HSBC conveyancing panel.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Queenborough solicitor - who is on the Lloyds conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Lloyds will need an independent valuation of the property. Your lawyer will not arrange this. Usually Lloyds will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Queenborough surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Despite weeks of looking the Title Certificate and documents to my property are lost. The lawyers who did the conveyancing in Queenborough 10 years ago are no longer around. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your conveyancer will know precisely where to locate all the suitable documentation so you may buy or dispose of your property without a hitch. Where copies are not available, your conveyancer may be able to put in place insurance or indemnities protecting you against possible claims on your property.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what was supposed to be a simple, no chain conveyancing. Queenborough is where the house is located. Can you offer any opinion?
Flying freeholds in Queenborough are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Queenborough you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Queenborough 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 premises.
We have an offer in principle from Barnsley Building Society who said that they will loan up to £218k. When do we need to appoint a lawyer for conveyancing? Queenborough is where we plan to move to.
It would be wise to instruct a conveyancing practitioner now so that the solicitor can open the ledger so they can commence their ID checks etc. Once you wish them to start work they will seek a deposit normally about £225. That should generally be after you have the mortgage offer and survey results, but should you wish to speed the process you can start the ball rolling sooner even though you may be risking some expense.