I was informed yesterday by my mortgage adviser that my Old Stratford lawyer is not on the lender Conveyancing panel. What can I do to be certain that this is indeed the case?
The first thing you need to do is to call your Old Stratford lawyer directly. It is reasonable to expect your lawyer to notify you what has happened. If they are not on the panel they may be able to suggest a Old Stratford conveyancing firm that is on the conveyancing panel for your bank.
is it true that all Old Stratford solicitor firms on the Principality conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Principality conveyancing panel they would need to be regulated by the SRA. Many banks do allow licenced conveyancers on their panel and in such a situation the practice would be overseen by the CLC.
We previously appointed conveyancers locally in Old Stratford on the HSBC solicitor panel. They are now charging me a further fee for dealing with the HSBC mortgage. Is this an additional conveyancing fee specified by HSBC?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer can levy a fee for this. The fee is not dictated by HSBC but by your Old Stratford conveyancing practitioner. Some firms on the HSBC panel will quote an ‘acting for lender’ fee but many firms incorporate it on their overall fee.
My sealed bid on a detached house in Old Stratford has been accepted, the vendors do nevertheless have a connected purchase. The sellers have put an offer on a property, however it’s not been accepted yet, and have viewings of other properties in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Old Stratford. What do I do now? When should I get the mortgage application with UBS going?
It is usual to have anxieties where there is a chain as you are unlikely to want to incur expenses too early (home loan application is in the region of £1k, then survey, Old Stratford conveyancing search fees, etc). First, you must ensure that your conveyancing practitioner is on the UBS approved list. Concerning the next phase this very much depends on the specifics of your case, desire for the property and on the state of the market. During a hot market many buyers will apply for the mortgage with UBS and arrange for the valuation and only if it was satisfactory would they pay their conveyancing practitioner to move forward with searches.
What does a local search reveal regarding the house my wife and I purchasing in Old Stratford?
Old Stratford conveyancing often commences with the applying for local authority searches directly from your local Authority or via a personal search organisations for example Xpress Legal The local search is essential in every Old Stratford conveyancing purchase; as long as you wish to avoid any unpleasant surprises after you move into your new home. The search should supply information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
I decided to have a survey done on a property in Old Stratford before retaining lawyers. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some lenders will refuse to grant a mortgage on such a house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. Should you wish to call us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Old Stratford. Conveyancing may be slightly more expensive based on your lender's requirements.
I was pointed in your direction by numerous property agents in Old Stratford to choose a solicitor on your site. What’s the financial upside for Estate Agents to offer your services over and above a competitor’s?
We refuse to give any referral fee for sending work our way. We found it would be just too difficult a fee because a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.