My mortgage broker requires my Reynoldston law firm’s panel reference for the HSBC conveyancing panel. Can you suggest how I discover this. I have e-mailed my local Reynoldston branch but they have not responded to me.
You are best placed to get this information from your Reynoldston lawyer . Most Reynoldston conveyancing firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each lender.
In what way does my ID and proof of funds have anything to do with my conveyancing in Reynoldston? Why is this being asked of me?
Anti-terror and anti-money-laundering regulations require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing retainer. The Terms and Conditions that you are required to sign will no doubt confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you refuse to hand over ID verification documents, your conveyancer would not be able to act for you.
We had selected conveyancing lawyers locally in Reynoldston on the Aldermore solicitor approved list. They have just invoiced me a supplemental sum for handling the Aldermore mortgage. Is this an additional conveyancing fee set by Aldermore?
Unfortunately, as long as it is in their Terms of Engagement or Quote then yes your property lawyer may levy a fee for this. The fee is not set by Aldermore but by your Reynoldston conveyancing practitioner. Numerous firms on the Aldermore panel will quote an ‘acting for lender’ fee and others do not.
I have today made my last payment due on my mortgage with UBS. I assume I don't need a Reynoldston conveyancing practitioner on the UBS panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your UBS 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 UBS mortgage from the register. UBS, 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 UBS has sent the Land Registry the discharge electronically, and
- UBS has instructed the Land Registry to do so
I have decided to exercise my right to buy my property in Reynoldston off the council. I have a mortgage agreed with Nationwide. 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 have 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 Nationwide, you will need to appoint a solicitor on the Nationwide conveyancing panel.
Various web forums that I have frequented warn that are the number one cause of hinderance in Reynoldston conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not figure within the most frequent causes of delays in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Reynoldston.
Are there restrictive covenants that are commonly identified as part of conveyancing in Reynoldston?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Reynoldston. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the encouragement of my in-laws I had a survey completed on a property in Reynoldston before instructing solicitors. I have been informed that there is a flying freehold element to the property. The surveyor advised that some lenders will not grant a mortgage on this type of property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to telephone us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Reynoldston. Conveyancing will be smoother if you use a solicitor in Reynoldston especially if they are accustomed to such properties in Reynoldston.