I am five weeks into the sale of my home in Seascale and Sellafield and the estate agent has just telephoned to say that the purchasers are changing their conveyancer. The excuse is that the lender will only work with property lawyers on their conveyancing panel. Why would a leading lender only deal with specific solicitors rather the firm that they want to choose to handle their conveyancing in Seascale and Sellafield ?
Mortgage companies have always had panels of law firms they are content to work with, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Banks point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to oversee. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
Our god-son is purchasing a house that has just been built in Seascale and Sellafield with a home loan from Santander. His lawyer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Santander conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Santander conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
I am the only beneficiary of my late grandmother’s will with all property in now in my sole name, including the my former home in Seascale and Sellafield. Conveyancing formalities meant that the Land Registry date was in July. I plan to dispose of the house. I understand that there is a CML 6 month 'rule', which means that my proprietorship will be considered the same way as if I'd bought the property in July. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook requires solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. How sensible a view lenders take of it, depend on the mortgage company as this clause chiefly exists to identify the purchase and immediately sell or the flipping of property.
Are all Seascale and Sellafield Conveyancing Quality Solicitors on the UBS conveyancing list of approved solicitors?
A selection of banks and building societies now make use of CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
is it true that all Seascale and Sellafield solicitor firms on the Bank of Ireland conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel in which case such firms would be regulated by the Council of Licensed Conveyancers.
Due to the input of my in-laws I had a survey completed on a house in Seascale and Sellafield in advance of instructing conveyancers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies may not give a loan on this type of home.
It depends who your proposed lender is. Bank of Scotland has different instructions from Nationwide. Should you wish to call us we can check via the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Seascale and Sellafield. Conveyancing may be slightly more expensive based on your lender's requirements.
My brother has urged me to appoint his lawyers for conveyancing in Seascale and Sellafield. Should I find my own property lawyer?
There are no two ways about it the best way to choose a conveyancing lawyer is to get guidance from friends or family who have previously instructed the firm you're considering.
Can you offer any advice when it comes to choosing a Seascale and Sellafield conveyancing practice to carry out our lease extension conveyancing?
When appointing a solicitor for lease extension works (regardless if they are a Seascale and Sellafield conveyancing practice) it is essential that he or she should be familiar with the legislation and specialises in this area of work. We suggest that you make enquires with two or three firms including non Seascale and Sellafield conveyancing practices before you instructing a firm. If the firm is ALEP accredited then so much the better. The following questions could be of use:
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Can they put you in touch with clients in Seascale and Sellafield who can give a testimonial? If they are not ALEP accredited then why not?
Seascale and Sellafield Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
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Is there a share of the freehold? What restrictions exist in the Seascale and Sellafield Lease? Generally speaking the cost for major works tend not to be wrapped into the service charges, albeit that some managing agents in Seascale and Sellafield ask tenants to contribute towards a sinking fund created for the specific intention of building a fund for major repairs or maintenance.