I am expecting a mortgage with Lloyds. My intention is to instruct a Licensed Conveyancer in Ruabon. Does the Lloyds Conveyancing panel include Licensed Conveyancers?
The Lloyds conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My apartment in Ruabon is up for sale and I have accepted an offer. Does my lawyer need to be required to be on the TSB conveyancing panel in order to deal with repayment of my mortgage?
Ordinarily, even if your lawyer is not on the TSB 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 specifications fairly frequently at the moment.
We are buying a flat in Ruabon. It might be a silly question but how we can trust a conveyancer? At some point we will need to send money into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Is it correct that all Ruabon CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing list of approved practices?
It is true that some banks and building societies now utilise CQS as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to join their panels.
I am due to exchange contracts on my apartment. I had a double glazing fitted in June 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, UBS are being a right pain. The Ruabon solicitor who is on the UBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but UBS are requiring a building regulation certificate. Why do UBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that UBS have referred the matter to their valuer. The reason why UBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I am purchasing a new build house in Ruabon benefiting from help to buy. The developers refused to reduce the price so I negotiated 6k of extras instead. The house builders rep suggested that I not to tell my conveyancer about this extras as it could adversely affect my loan with the lender. 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.
I opted to have a survey carried out on a property in Ruabon prior to instructing conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders may refuse to grant a mortgage on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Ruabon. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ruabon to see if the conveyancing costs will increase in light of this.
There are a number of houses in Ruabon on private roads. I am acquiring such a house. What would be the advantages and disadvantages of purchasing a property on a privately owned road?
Ruabon conveyancing firms are familiar with conveyancing propertieson private. The property lawyer will investigate Land Registry data to identify any rights or liabilities. It is possible that there is a residents association that proprietors pay into to maintain the road. Where one exists, the road will likely be maintained and appear nicer than publicly adopted.