I am obtaining a mortgage with Lloyds. My intention is to enlist the help of a Licensed Conveyancer in Kingswinford. Does the Lloyds Conveyancing panel exclude Licensed Conveyancers?
The Lloyds approved solicitor list is, like many other lenders, represented by the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
Having spent time looking at consumer advice sites for a recommended lawyer in Kingswinford, most comment that I must look for a CQS accredited lawyer. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in the legal transfer of properties, trusted by some of the UK's biggest mortgage companies. Four years ago the Conveyancing Quality Scheme was officially recognised by the Legal Ombudsman. CQS is not a scheme offered by the Council of Licensed Conveyancing. Kingswinford is one of the many areas of the UK where there are Accredited lawyers.
I happen to be the only recipient of my late grandmother’s will and I have everything in my name now, including the house in Kingswinford. The Kingswinford property was put into my name in December. I want to move. I understand that there is a CML 6 month 'rule', meaning my property ownership will be regarded the same way as though I had purchased the property in December. Will no one buy the property for half a year?
The CML handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be caught by that. Most banks would take a pragmatic view as this requirement is chiefly there to pick up on the purchase and immediately sell or the flipping of property.
My wife and I have arranged the release of further monies on our home loan from Clydesdale as we wish to conduct improvements to our property in Kingswinford. Do we need to choose a high street Kingswinford solicitor on the Clydesdale conveyancing panel to deal with the legals?
Clydesdale don't usually instruct a member of 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 Clydesdale conveyancing panel.
At last I have had an offer on a flat in Kingswinford accepted, but there is a chain. The owners have offered on somewhere, however it’s not yet tied up, and have viewings of other properties booked. I have instructed a nearby conveyancing solicitor in Kingswinford. What do I do now? When do I get the mortgage application with Leeds Building Society going?
It is normal to have anxieties where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Kingswinford conveyancing search charges, etc). First, you must check that your solicitor is on the Leeds Building Society conveyancing panel. Concerning the subsequent stages this very much dictated by the uniqueness of your case, motivation for this property and on the state of the market. During a hot market the majority of buyers will apply for a home loan with Leeds Building Society and pay for the valuation and only if it comes back ok would they ask their solicitor to move forward with searches.
I have been on the look out for a ground for flat up to £305k and identified one close by in Kingswinford I like with open areas and transport links nearby, however it only has 51 years unexpired on the lease. I can't really find anything else in Kingswinford in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you require a home loan the shortness of the lease will be problematic. Reduce the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least twenty four months you could request that they commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I was pointed in your direction by two or three local selling agents in Kingswinford to get a quote from a solicitor on your site. Is there a financial advantage for Estate Agents to market your lawyers over and above alternative conveyancing organisations?
We don’t give any commission for sending work our way. We thought it would be too underhand to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.