I was notified yesterday by my IFA that my West Malling solicitor is not on the lender Solicitor panel. How can I be sure if this is correct?
Your first step should be to contact your West Malling conveyancer. It is reasonable to expect your lawyer to inform you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
I require conveyancing for a flat in a fairly new development (seven years old) in West Malling. 95% of the properties are already disposed of. Do I need carry out the neighbourhood searches as part of conveyancing in West Malling?
Conveyancing Searches are a critical link in the West Malling conveyancing process. There are numerous search providers conducting West Malling conveyancing searches, as well direct from the local authority. These are generally termed personal search providers due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authoritative source.
What does my ID and proof of funds have anything to do with my conveyancing in West Malling? What am I being asked for?
You are right in the requirement set out by your solicitor has nothing to do with conveyancing in West Malling. However these days you will not be able to proceed with any conveyancing deal without first handing over evidence of your identity. This usually takes the form of a either your passport or driving licence and a council tax bill. Please note that if you are supplying your driving licence as proof of identification it must be both the paper part and photo card part, one is not satisfactory in the absence of the other.
Proof of the source of funds is mandated in accordance with the Money Laundering Regulations. Please do not be offended when when this is requested of you as your lawyer must have this information on file. Your West Malling conveyancing practitioner will need to see evidence of proof of funds before they are able to accept any monies from you into their client account and they will also ask additional queries regarding the origin of funds.
I happen to be the only recipient of my late mum's will with all property in now in my sole name, including the my former home in West Malling. Conveyancing formalities meant that the Land Registry date was in August. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', meaning my property ownership will be treated the same way as though I had purchased the property in August. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook mandates solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be affected by that. How practical a view mortgage companies take of it, depend on the lender as this obligation is primarily there to identify the purchase and immediately sell or the flipping of properties.
Is there a list of Nationwide panel solicitors in West Malling on the Building Society Association’s Website?
Unfortunately not yet. There is no such directory service on the CML or Building Society Association sites. Very few lenders make their panel listings viewable over the internet. If you are looking for a West Malling conveyancer on the Nationwide please make the most of our facility.
Last month we had a mortgage agreed in principle with Lloyds. West Malling conveyancing lawyers have been selected. How long does it take for Lloyds to issue the offer to the property lawyer?
There is no definitive answer here. Have Lloyds done the valuation? Have you informed Lloyds as to your lawyers' details and checked that your lawyers are on the Lloyds conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
Yesterday I discovered that there is a flying freehold element on a property I put an offer in a fortnight ago in what was supposed to be a quick, no chain conveyancing. West Malling is where the house is located. What do you suggest?
Flying freeholds in West Malling are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in West Malling you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in West Malling may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have recently had an offer accepted on a leasehold flat in West Malling and the broker that we are dealing with suggested his solicitor. She quoted a thousand pounds plus VAT and 3rd party costs. Does this sound steep?
You should not rely on 1 estimate. You should seek like-for-like quotes for your conveyancing in West Malling. Then pick one that you are comfortable with and crucially, is on the approved list of the mortgage company that you are sourcing your mortgage from.