I am selling my flat in Stilton and the EA has just text me to advise that the buyers are changing their property lawyer. The excuse is that the lender will only work with solicitors on their conveyancing panel. On what basis would a major lender only engage with specific lawyers rather the firm that they want to appoint for their conveyancing in Stilton ?
UK lenders have always had panels of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lenders blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
I am purchasing a house and need a conveyancing solicitor in Stilton who is on the Platform Home Loans Ltd approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as Stilton. We dont recommend any particular firm.
My wife and I purchasing a detached bungalow in Stilton. We would like to an extension at the rear at the property.Will legal due diligence on the property include checks to ascertain if these alterations are permitted?
Your conveyancer should review the registered title as conveyancing in Stilton will on occasion reveal restrictions in the title deeds which prohibit categories of alterations or require the permission of another owner. Many additions call for local authority planning consent and approval in accordance building regulations. Certain areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. It would be prudent to check these issues with a surveyor ahead of any purchase.
I am selling my house. I had a double glazing fitted in December 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nationwide are being difficult. The Stilton solicitor who is on the Nationwide conveyancing panel is recommending indemnity insurance as a solution but Nationwide are requiring a building regulation certificate. Why do Nationwide have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nationwide have referred the matter to their valuer. The reason why Nationwide 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.
My sealed bid on a house in Stilton has been accepted, but there is a chain. The vendors have offered on a flat, however it’s not yet agreed to, and are looking at other apartments booked. I have chosen a local conveyancing solicitor in Stilton. What should be my next step? When do I get the mortgage application with Co-operative started?
It is understandable to have concerns where there is a chain as you are unlikely to want to be too out of pocket prematurely (mortgage application is approx £1k, then survey, Stilton conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the Co-operative approved list. Concerning the next steps this very much depends on the specifics of your transaction, motivation for this property and on the state of the market. In a buoyant market some buyers would apply for the mortgage with Co-operative and pay for the valuation and only if it comes back ok would they ask their conveyancer to proceed with the conveyancing in Stilton.
My wife and I have a renovated Edwardian property in Stilton. Conveyancing lawyer acted for me and Accord Mortgages Ltd. I happened to do a free search for it on the Land Registry database and I saw two entries: the first freehold, another for leasehold with the exact same address. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Stilton and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also check the position with the conveyancing practitioner who conducted the conveyancing.
Due to the advice of my in-laws I had a survey completed on a house in Stilton ahead of retaining solicitors. I have been advised that there is a flying freehold aspect to the house. Our surveyor advised that some mortgage companies tend refuse to grant a loan on such a home.
It depends who your proposed lender is. Santander has different requirements from Nationwide. 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 help as they are accustomed to dealing with flying freeholds in Stilton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stilton to see if the conveyancing costs will increase in light of this.
Me and my husband have just had an offer accepted on a flat and had meeting on Wednesday with Leeds Building Society for the mortgage. They warned me that when it comes to appointing a conveyancing practitioner that if they are not on their approved panel of conveyancers then we will incur an extra charge of £250+. This is is due to the fact that they will then have to instruct a property lawyer to act on their behalf as well as the one we select on our behalf and we are liable for their invoice. I have asked Leeds Building Society to send me with a list so I can obtain estimates only from their approved solicitors but was told they dont have such a list to hand over. What would be the best way of going about this?
You should ask Leeds Building Society what their criteria for panel membership is for a conveyancer.Thereafter ask the conveyancing practitioner of your choice whether they fit that criteria and have they acted on loans for Leeds Building Society before. Where the answer to those is yes, then just clarify this with Leeds Building Society. Alternatively please use our search facility and we may be able to locate a solicitor in Stilton on the approved list for Leeds Building Society.