My partner and I are planning to buy a home in Wallasey and have appointed a Wallasey conveyancing practice. Within the last couple of days our conveyancer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. HSBC Bank have this evening contacted us to advise us that there is now an issue as our Wallasey lawyer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Wallasey solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
We were just about to exchange contracts for a ground floor flat in Wallasey. We have hit a snag. The loan offer with Lloyds TSB Bank runs out on 14/2/2025 but the owners are insisting on a completion date of 18/2/2025. Can one extend the mortgage expiry date?
The best person to deal with your concern is your lawyer who should calculate whether they should be discussing with the mortgage broker, seller’s solicitors, selling agents or conceivably all parties taking into account the circumstances your house move as of today.
is it true that all Wallasey solicitors on the Nationwide conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Nationwide approved list of solicitors they would need to be governed 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.
We expect to receive a AIP from RBS this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do RBS recommend any Wallasey solicitors on the RBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Wallasey solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
It is not clear whether my bank obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Wallasey bank branch on numerous occasions and was advised it wasn't a problem and they would lend. My Wallasey conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their specific requirements. Who do I believe?
The lawyer has to comply with the CML Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have been told that property searches are the main reason for stalling in Wallasey house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of delays during the legal transfer of property. Searches are unlikely to be the root cause of slowing down conveyancing in Wallasey.
My business partner and I are looking to lease a unit on a shopping parade. Can you recommend conveyancers offering no-move-no costs for non-domestic conveyancing in Wallasey for less than 2k?
We are happy to recommend firms who have an in-depth of experience of commercial conveyancing in Wallasey, including the sale and acquisition of businesses as well as simply premises. If you are hoping to buy or dispose of a shop, pub, restaurant, office, retail unit or a complete business we can put you in touch with the right solicitor. As for the costs this will depend on the structure and complexity of the proposed transaction. Let us have your details or phone so as to enable us to supply you with a detailed commercial conveyancing calculation.
Should one as executor remove a departed person's details from the title deeds for a house in Wallasey?
Where a Wallasey property is jointly owned and one of the proprietors dies, their name will not automatically be removed from the title deeds. It is not necessary to remove their name as in the event of a sale your conveyancer would simply need to supply proof as to the reason the co owner is missing from the transfer, such as the probate documents.
With a view to making things more straight forward in the future you can arrange to have the deceased person removed from the title entries by submitting an application to HM Land Registry with evidence of the death. There is no land registry fee payable.