I am not in a position to travel far from Staffordshire. What is the rationale as to why all Staffordshire solicitors aren't included on all lender panels?
A decade ago most banks exhibited an approach to risk which is different from today. The financial regulator in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the lawyers on your panel. Consequently, lenders have subsequently looked to extract more data from law firms concerning their processes and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Hundreds of law practices have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the criteria of amount of transactions the lenders set.
We see that you have a post code search directory listing law firms on the Santander conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Staffordshire?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Staffordshire.
Do I need to visit the offices of the solicitor to sign the legal charge? If so, I will appoint a lawyer who conducts conveyancing in Staffordshire so that I can attend their offices if necessary.
Nowadays approved lawyers for lenders carry out the vast majority of communications through the post, internet or over phone calls. This means that they can undertake the conveyancing transaction regardless of where you live in the country. That being said you should check if you have the option of going to the offices of your conveyancing lawyer if you prefer.
Last month we had a mortgage agreed in principle with Aldermore. Staffordshire conveyancing lawyers have been chosen. How long does it take for Aldermore to issue the offer to the lawyer?
Some lenders take longer than others. Have Aldermore conducted the valuation? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have instructed a Staffordshire solicitor having made sure that they are on the Aldermore conveyancing panel. Does my lawyer arrange the survey of the property?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore 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 Staffordshire 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.
UBS have agreed my mortgage in principle, my offer on a property in Staffordshire has been accepted, what happens next?
Your property agent will want to be advised as to your lawyer's details (ensure that the conveyancers are on the lender’s panel). Contact UBS or your broker and complete any relevant paperwork. UBS will sellect a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. UBS will issue the offer to you and your conveyancing practitioners. The legal work will then take it’s course according the nature and complexity of the conveyancing in Staffordshire.
Do I need to take out insurance to cover chancel repairs when buying a house in Staffordshire?
Unless a prior acquisition of the premises took place post 12 October 2013 you could take it that lawyers handling conveyancing in Staffordshire to continue to recommend a chancel search and or chancel repair liability policy.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and identified one round the corner in Staffordshire I like with open areas and railway links in the vicinity, however it only has 51 years on the lease. There is not much else in Staffordshire in this price bracket, so just wondered if I would be making a grave error purchasing a short lease?
Should you require a mortgage that many years will likely be an issue. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for at least twenty four months you can ask them to commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor concerning this.