I plan on buying property in Seaton. My Conveyancer is not on the mortgage company conveyancing list. Can I still use my Seaton conveyancing solicitor notwithstanding that they are excluded from the mortgage company approved list?
One must appoint a solicitor to complete the formalities if you require a loan to purchase your property. They will carry out all the relevant legal checks on the property, make sure that you’re properly registered as the owner and ensure that all the necessary mortgage paperwork is dealt with. You could appoint a Seaton property lawyer of your choice. However, if the solicitor appointed is not on the bank approved list supplemental charges will be levied as separate legal representation will be required by them. Conveyancing panel applications may be submitted, so where your conveyancer has not previously sought membership they should do so.
My partner and I are purchasing a newly constructed duplex in Seaton and my conveyancer is telling me that she has to the lender to disclose incentives from the seller. The Estate Agents are hassling me to sign contracts and I don't want to prolong the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is a dozen years since I bought my home in Seaton. Conveyancing lawyers have just been retained on the sale but I can't find my title deeds. Will this jeopardise the sale?
You need not be too concerned. Firstly there is a possibility that the deeds will be retained by the mortgage company or they could be in the possession of the solicitor who handled your purchase. Secondly in most cases the title will be registered at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers acquiring current official copies of the land registers. Nearly all conveyancing in Seaton relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Seaton. The house had a relatively small loan remaining of approximately £8000. I want to have the title changed into my name whilst I re-mortgage to TSB, pay off the mortgage. Is this allowed?
Given you plan to re-mortgage then TSB will insist on your using a conveyancer on the TSB conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your TSB conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the TSB mortgage is registered as a charge at the Land Registry.
Should I be wary about brokers that I am dealing with are suggesting a nationwide conveyancing firm as opposed to a High Street Seaton conveyancing firm?
As with many professional services, often input from family and friends can be worth their weight in gold. Nevertheless there are many players in a conveyancing transaction; estate agents, financial adviser and mortgage companies may put forward lawyers to choose. Sometimes the solicitors might be known to one of the organisations as one of the best in their field, but sometimes there exists a financial incentive behind the recommendation. You are at liberty to choose your preferred conveyancer. Don't forget that most mortgage providers have an approved list of law firms you must use for the mortgage related work in your house move.
Me and my wife are disposing of a Seaton flat we inherited 8 years ago in 2009. I have over a decades worth of conveyancing know-how and, now retired, intend to conduct my own conveyancing. The buyer's conveyancing practitioner has informed me that their bank will not allow us to do our own conveyancing as they require the funds to be transferred to a solicitor's bank account.
Lending instructions to property lawyers from all mainstream lenders specify that If the seller is not legally represented the purchaser’s lawyers should check whether the bank needs to be informed so that a decision can be made if they are prepared to move forward.