We chose a Mortlake based lawyer for my conveyancing in Mortlake recently. Reviewing the official terms of business it is apparent thatI am on the hook for costs even if the movedoes not go ahead. Should I go with them or appoint a web based solicitor practice promoting no-sale-no-fee conveyancing in Mortlake?
Generally there is a compromise along the lines that if "No Sale No Fee" is offered then the fee levels will tend to be be higher to counteract those cases that fail to complete. Also remember that such offerings tend not to protect you from disbursements for example Mortlake conveyancing search expenses.
When looking at moneysavingexpert.com for a conveyancing lawyer in Mortlake, many comment that I should use a CQS accredited lawyer. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes via the scheme protocol Membership covers numerous firms who carry out conveyancing in Mortlake.
I happen to be the only beneficiary of my late father’s estate and I have everything in my name now, including the my former home in Mortlake. Conveyancing formalities meant that the Land Registry date was in November. I plan to dispose of the property. I understand that there is a CML 6 month 'rule', meaning my property ownership could be treated the same way as if I'd bought the property in November. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook obliges conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be impacted by that. many mortgage companies would take a pragmatic view as this clause primarily exists to pick up on subsales or the wholesaling and assigning of property.
I had a mortgage agreed in principle with Santander. Mortlake conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from Santander?
Some lenders take longer than others. Have Santander done the survey? Have you informed Santander as to your lawyers' details and checked that your lawyers are on the Santander conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
The mortgage over my property is with Skipton for my property in Mortlake. Conveyancing was finalised a year ago. Should I wish to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
You must advise Skipton prior to letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. It may be that Skipton will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel lawyer.
Am I best advised to instruct a Mortlake conveyancing lawyer based in the vicinity that I am purchasing? I have an old university friend who can conduct the conveyancing however her office is approximately 350miles away.
The benefit of a local Mortlake conveyancing firm is that you can visit the firm to execute paperwork, hand in your ID and pester them where appropriate. Having local Mortlake know how is a benefit. However nothing is more important than finding someone that will pull out all the stops for you. If other friends have instructed your friend and they were impressed that should surpass using an unfamiliar Mortlake conveyancing lawyer solely due to them being local.
We have selected a Mortlake conveyancing solicitor for our house purchase (novice purchasers) and have spotted in the engagement letter that they are not regulated by the Financial Conduct Authority. Am I right to be worried or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are regulated by the Solicitors Regulation Authority, who set strict laws in relation to monies held by them.