My partner and I are nearing an exchange on a property in St Anns and my parents have transferred the 10% deposit to my solicitor. I am now told that as the deposit has not come from me my solicitor needs to disclose this to my lender. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I advised the lender concerning my parents' contribution when I applied for the home loan, so is it really appropriate for him to raise this?
The lawyer is legally required to clarify with mortgage company to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Can your site be used to recommend a Conveyancing solicitor in St Anns even if I’m not buying or selling a house, for example if I wish to buy an office in St Anns with a mortgage from National Westminster Bank?
Our search tool is predominantly utilised to find domestic conveyancing solicitors in St Anns but we have recorded at the end of this page some St Anns commercial conveyancing firms. You will need to speak with the firm directly to establish if they are also authorised to represent National Westminster Bank
I had intended to instruct a conveyancing solicitor in St Anns for our house purchase. Our broker informed us that our mortgage lenders Barclays won't deal with them. Why is this not regarded as unduly restrictive?
Banks in the main restrict either the category or the number of conveyancing firms on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. In addition to restricting the profile of firm, some have reduced the number of solicitor practices they use to act for them. You should note that Barclays have no responsibility for the quality of advice provided by any member of Barclays Conveyancer Panel. Mortgage fraud was a key driver in the reduction of conveyancing panels a few years ago even though there are mixed views concerning the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms, including some in or near St Anns only execute very few conveyances per annum.
When it comes to mortgage companies such as Virgin Money, do St Anns conveyancing practitioners face a yearly amount to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
Can you point me to a directory of Yorkshire BS panel conveyancers in St Anns on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association sites. A small selection of mortgage companies make their panel listings viewable over the internet. If you are seeking to appoint a St Anns solicitor on the Yorkshire BS please use our tool.
Is it the case that all St Anns solicitor firms on the UBS conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many lenders do list licenced conveyancers on their panel and in such a situation the firms would be governed by the Council of Licensed Conveyancers.
I purchased my apartment on 10 February and the transaction details are still not on the land registry website. Any reason for this? My conveyancing solicitor in St Anns expressed confidence that it would be formalised in a couple of weeks. Are transfers in St Anns uniquely lengthy to register?
As far as conveyancing in St Anns is concerned, registration is no quicker or slower than the rest of the country. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry communicate with any third parties. At present approximately 80% of submission are fully addressed within 12 days but some can be subject to extensive hold-ups. Registration is effected once the purchaser is living at the property so an expedited registration is not always an essential issue yet if there is a degree of urgency associated with the registration then you or your conveyancer could communicate with the Registry to express the reasoning for the application to be prioritised.