I am getting a offer of a home loan from Santander. I hope to retain the legal services of a Licensed Conveyancer in Whitley Bay. Does the Santander Solicitor panel include conveyancers regulated by the CLC?
The Santander conveyancing panel is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
The Whitley Bay conveyancing firm handling our Whitley Bay conveyancing has identified an inconsistency between the information in the home valuation survey and what is in the legal papers for the property. My lawyer has advised that he must ensure that the lender is OK with this discrepancy and is still content to lend. Is my lawyer’s stance legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
I happen to be the sole recipient of my late grandmother’s will and I have everything in my name alone, including the house in Whitley Bay. The Whitley Bay property was put into my name in February. I now wish to sell up. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be treated the same way as if I'd bought the property in February. Do I have to wait half a year to sell?
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 might be affected by that. Some mortgage companies would take a practical view as this requirement is primarily there to identify subsales or the flipping of properties.
Is there a list of Leeds Building Society panel conveyancers in Whitley Bay on the Council of Mortgage Lender’s Website?
Unfortunately not yet. There is no such facility on the CML or Building Society Association websites. A small selection of banks make their panel listings viewable on the web. If you are looking for a Whitley Bay solicitor on the Leeds Building Society please use our tool.
Is it the case that all Whitley Bay solicitors on the Bank of Ireland conveyancing panel are governed by the SRA?
As a firm of solicitors, in order to be on the Bank of Ireland approved list of solicitors they would need to be regulated by the SRA. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
I have recentlydiscovered that Arc property Solicitors have closed. They conducted my conveyancing in Whitley Bay for a purchase of a freehold house 12 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The easiest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Whitley Bay conveyancing specialists.
Over the last few months I have been searching for a ground for flat up to £235,500 and found one round the corner in Whitley Bay I like with a park and railway links in the vicinity, the downside is that it's only got 49 remaining years left on the lease. I can't really find anything else in Whitley Bay for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you require a mortgage the shortness of the lease will likely be a potential deal breaker. Discount the price by the expected lease extension will cost if it has not already been discounted. If the current owner has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
Do banks and building societies provide you with an approved list of Whitley Bay solicitors? How do you know who is on the lender conveyancing panel?
Whitley Bay law firm practices and firms conducting conveyancing in Whitley Bay themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the bank directly.