My partner and I are hoping to buy a property in Wallsend and are in fact using a Wallsend conveyancing firm. Within the past 48 hours our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Godiva Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Wallsend conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also act for the purchaser's lender. 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 property lawyer 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 bank's conveyancing panel and you may continue to use your own Wallsend solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
It is is a decade since I purchased my house in Wallsend. Conveyancing lawyers have now been retained on the sale but I am unable to locate the title deeds. Will this jeopardise the sale?
Don’t worry too much. Firstly there is a possibility that the deeds will be retained by the mortgage company or they could be in the possession of the conveyancers who handled your purchase. Secondly the likelihood is that the land will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. Nearly all conveyancing in Wallsend relates to registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
My apartment in Wallsend is up for sale and I have accepted an offer. Will my lawyer need to be on the Virgin Money conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Virgin Money conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their requirements fairly frequently currently.
Have just purchased a probate house at auction in Wallsend. Conveyancing is necessary. What happens now?
Given that you are now legally committed yourself to purchase you now have to choose a conveyancing practitioner quickly as you will have a pending deadline in which to complete the purchase. All auction property will have a bespoke auction pack. This will include evidence of title and search results. Where you are dealing with leasehold property the conveyancing pack may include a copy of the lease, management information and a sellers leasehold information form and other conveyancing documentation specific to a leasehold property. You must pass this on to your appointed conveyancing solicitor at the earliest opportunity. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
I happen to be the single recipient of my late grandmother’s estate and I have everything in my name now, including the my former home in Wallsend. Conveyancing formalities meant that the Land Registry date was in February. I plan to dispose of the property. I do know about the CML six month 'rule', meaning my proprietorship could be considered the same way as if I'd bought the house in February. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be affected by that. many mortgage companies would take a practical view as this requirement is principally there to pick up on subsales or the wholesaling and assigning of properties.
I am due to exchange contracts on my apartment. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Co-operative are being difficult. The Wallsend solicitor who is on the Co-operative conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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.
I am close to exchanging contracts on the sale of our property in Wallsend and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any local lawyer would know this is not the case. It does beg the question why the purchasers are using a national conveyancing firm as opposed to a conveyancing solicitor in Wallsend. We have lived in Wallsend for 5 years we know of no issue. Should we contact our local Authority to obtain clarification that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I need to instruct a conveyancing solicitor in Wallsend for my house move. Is there any facility to review a solicitor's record with the profession’s regulator?
One can read presented Solicitor Regulator Association (SRA) determinations arising from inquisitions started on or after 1 January 2008. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, ring 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training purposes.