I am hoping to receive a mortgage with Lloyds. I intend to retain the legal services of a Licensed Conveyancer in Winchester. Does the Lloyds Conveyancing panel allow for conveyancers regulated by the CLC?
The Lloyds approved solicitor list is, like many other lenders, represented by the Council or Mortgage Lenders or BSA, open to Licensed Conveyancers regulated by the CLC.
We have rather pushy sellers who has recommended a lock out contract with a down payment of 5k. Are such agreements appropriate for Winchester conveyancing transactions?
Exclusivity contracts are agreements between a property owner and purchaser giving the buyer exclusive rights to the sale of the property for a limited period of time. For all intents and purposes, a lock out agreement is a contract stating that you should be issued with a contract at a later date being the contract for the actual sale. It tends to be utilised for buyer confidence though in many situations, the proprietor may stand to benefit from such agreements as well. There are many pros and cons to having an agreement but you should to check with your lawyer but beware that it may result in incurring extra in conveyancing charges. In light of these reasons these agreements are unusual when it comes to conveyancing in Winchester.
I have a decision in principle. The bank mentioned the home loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to use a specialised conveyancing solicitor in Winchester?
Do check but the chances are that appoint one of their panel solicitors should you want the "fee-free" incentive. Call the mortgage company to check if they make available a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case you could put that amount towards the cost for your conveyancing solicitor near Winchester.
We had chosen solicitors located in Winchester on the Nottingham solicitor panel. They have just invoiced me an additional fee for dealing with the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
As unfair as it may appear, as long as it’s in their Terms of Engagement or Quote then yes your conveyancer may levy a fee for this. This charge is not dictated by Nottingham but by your Winchester property lawyer. Numerous firms on the Nottingham panel will quote an ‘acting for lender’ fee but plenty of firms include it on their overall fee.
We expect to receive a OIP from TSB this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do TSB recommend any Winchester solicitors on the TSB conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Winchester solicitors independently although you'll need to choose one on the TSB conveyancing panel. The solicitor represents both you and TSB through the process.
I can not fathom if my mortgage offer requires a lease extension. I have called my Winchester building society branch on various occasions and was told it wasn't a problem and they would lend. My Winchester conveyancing solicitor - who is on the mortgage company conveyancing panel- telephoned to say that they will not lend in accordance with their specific requirements. Who do I believe?
Provided that the property lawyer is on the lender panel, they must follow the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in last month in what was supposed to be a quick, chain free conveyancing. Winchester is where the house is located. What do you suggest?
Flying freeholds in Winchester are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Winchester you would need to get your solicitor to go through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Winchester may ascertain 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.
My aunt completed her conveyancing in Winchester eight years ago. She has been married, widowed and has recently remarried. She intends to sell the property in a couple of months. I think she will just be requested to supply copies of her marriage papers to the solicitor however she is anxious it will delay the sale of the property. Should she instruct a conveyancer to update the Land Registry documents for the property?
It is not absolutely necessary to update the register as long as you have the evidence required to show how the name change occurred.
The buyer’s lawyer will check the title information and need evidence to establish the name change for example marriage documentation.