My IFA says he needs my Broxbourne law firm’s panel member for the Nat West conveyancing panel. What is the best way to discover this. I have tried my local Broxbourne office but they have not responded to me.
Have you tried calling your Broxbourne solicitor about this?. They should have a central record lender panel numbers.
The Broxbourne conveyancing firm handling our Broxbourne conveyancing has discovered an inconsistency when comparing the information in the valuation report and what is in the legal papers for the property. My solicitor has advised that he needs to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s course or action right?
Your lawyer must comply with the UK Finance Lenders’ Handbook specifications 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 am about to put an offer on a leasehold flat in Broxbourne. The property agents advise that it is usual for flats in Broxbourne to have less than 75 years left on the lease. I am getting a loan with Bank of Ireland. Will the property be mortgageable given that the lease has 70 years left.
Most leasehold conveyancing experts should be able to deal with a lease extension. if you are getting a mortgage then your lender may insist that the lease be extended before competition. Bank of Ireland have specific requirements as set out in the UK Finance Lenders’ Handbook in relation to minimum unexpired lease terms. As of 11/11/2024 the requirements read as follows :
Is it the case that all Broxbourne solicitors on the Santander conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Santander conveyancing panel they would need to be governed by the SRA. Some banks do allow licenced conveyancers on their panel and in such a situation the firms would be governed by the CLC.
We are getting a further advance on our home loan from Coventry BS as we intend to conduct improvements to our house in Broxbourne. Do we need to choose a bricks and mortar Broxbourne solicitor on the Coventry BS conveyancing panel to deal with the legals?
Coventry BS don't usually instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Coventry BS panel.
I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Broxbourne solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Broxbourne postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Broxbourne.
Due to the input of my in-laws I had a survey completed on a house in Broxbourne before appointing solicitors. I have been informed that there is a flying freehold overhang to the property. Our surveyor advised that some mortgage companies will refuse to issue a loan on such a premises.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you e-mail us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Broxbourne. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Broxbourne to see if the conveyancing will be more expensive.