My husband and I are hoping to purchase a flat in Wells Next The Sea and have instructed a Wells Next The Sea conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Alliance & Leicester have this afternoon contacted us to inform me that there is now an issue as our Wells Next The Sea solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also represent 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 Quality 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 lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Wells Next The Sea lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My fiance and I changing mortgage lender for our maisonette in Wells Next The Sea with Lloyds. We have a son 19 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, waiving any legal rights in the event that the flat is repossessed. I have two questions (1) Is this form unique to the Lloyds conveyancing panel as he never had to sign this form when we remortgaged 4 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Lloyds conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Lloyds. This is solely used to protect Lloyds if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Lloyds had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My mortgage company has recommended solicitors on their panel based in Wells Next The Sea but I would rather use a conveyancing lawyer in Wells Next The Sea round the corner to me. Can you help?
The minority of Wells Next The Sea conveyancing firms are approved and listed on all lender’s conveyancing panel. Use the above search tool to locate a Wells Next The Sea conveyancing firm on the on the mortgage company panel.
I decided to have a survey done on a property in Wells Next The Sea ahead of instructing conveyancers. I have been informed that there is a flying freehold element to the property. My surveyor has said that some mortgage companies may refuse to give a mortgage on such a house.
It depends who your proposed lender is. Santander has different instructions for example to Halifax. If you contact us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Wells Next The Sea. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Wells Next The Sea to see if the conveyancing costs will increase in light of this.
Given that I am about to part with 450k on a house in Wells Next The Sea I would like to talk to a solicitor regarding theconveyancing ahead of appointing the firm. Is this something that you can arrange?
Absolutely - we would be pleased to talk to you we do not take any clients on without you first talking to the conveyancer due to be conducting your conveyancing in Wells Next The Sea.There is no ‘factory style conveyancing’ - every client is an important individual, not a case number. The solicitors that we put you in touch with believe that the figure you are calculated and presented to you for your conveyancing in Wells Next The Sea should be the amount on the final invoice that you end up paying.
The solicitors handling our conveyancing in Wells Next The Sea has sent papers to review that reveal that the land is unregistered with epitome documents. Is it not the case that all properties in Wells Next The Sea should be registered?
Most property in Wells Next The Sea is registered. An 'epitome' is basically a dossier of photocopies of documents affecting an unregistered title. Many Wells Next The Sea conveyancing solicitors should be capable of dealing with such matters but if any uncertainty reigns the prevailing advice nowadays appears to be for the seller to address the registration formalities first and then sell - this no doubt cause a protracted home move.