Our mortgage company has suggested a law firm on their panel based in Tedburn St Mary but I would rather instruct a conveyancing lawyer in Tedburn St Mary or nearer to where I live. Can you assist?
Not all Tedburn St Mary conveyancing practitioners are listed all lender’s conveyancing panel. Do make the most of our search tool to identify a Tedburn St Mary conveyancing solicitor on the on the lender panel.
I have paid off my mortgage with Virgin Money. I assume I don't need a Tedburn St Mary conveyancer on the Virgin Money panel to discharge the mortgage at the Land Registry. Am I right?
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Tedburn St Mary bank branch on numerous occasions and was told it does not impact the mortgage offer and they will lend. My Tedburn St Mary conveyancing solicitor - who is on the lender conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
As long as the property lawyer is on the bank panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook specifications for the bank. Unless your lawyer obtains specific confirmation in writing that the bank 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 lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
My offer was accepted on an apartment in Tedburn St Mary on 18/10/2024, valuation was booked 4 days after, received a clean bill of health. Property lawyer appointed, so all that was missing was my mortgage offer. Having made daily calls to Yorkshire BS and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Yorkshire BS conveyancing panel. Can the lender hold off the offer?
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Yorkshire BS to deal with your lawyer's application to be on the Yorkshire BS conveyancing panel. There's no guarantee that your solicitor will be accepted.
My friend advised me that if I am purchasing in Tedburn St Mary I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes included in the estimate for your Tedburn St Mary conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Tedburn St Mary around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Tedburn St Mary Education with maps and statistics, Local Amenities and other useful information regarding Tedburn St Mary.
How does conveyancing in Tedburn St Mary differ for newly converted properties?
Most buyers of new build or newly converted property in Tedburn St Mary contact us having been asked by the seller to sign contracts and commit to the purchase even before the property is ready to move into. This is because new home sellers in Tedburn St Mary tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Tedburn St Mary or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Tedburn St Mary is the location of the property. Can you shed any light on this issue?
Flying freeholds in Tedburn St Mary are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Tedburn St Mary you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Tedburn St Mary may determine 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.