My partner and I are planning to buy a home in Wennington and are in fact using a Wennington conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Chelsea Building Society have this afternoon contacted us to inform me that they have now hit a problem as our Wennington solicitor is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Wennington solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
In reading moneysavingexpert.com for a cheap lawyer in Wennington, many say that I should instruct a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in buying or selling property, trusted by some of the UK's biggest lenders. 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. Wennington is one of the numerous areas of the UK where there are Accredited lawyers.
Have just purchased a repossessed house at auction in Wennington. Conveyancing is necessary. What happens now?
Given that you are now exchanged you will need to hire the services of a conveyancing practitioner soon as you are facing a tight a fixed date to complete the property. An auction property will ordinarily have a bespoke auction set of papers. This should include evidence of title and search results. Where you are dealing with leasehold property the conveyancing pack should provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to leasehold premises. You must give this to the conveyancer instructed by you ASAP. You also need to ensure that your finances are in place to complete on the date specified in the contract.
I have paid off my mortgage with Clydesdale. I assume I don't need a Wennington conveyancing practitioner on the Clydesdale panel to remove the mortgage at the Land Registry. Am I right?
If you have finished paying off your Clydesdale 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 Clydesdale mortgage from the register. Clydesdale, 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 Clydesdale has sent the Land Registry the discharge electronically, and
- Clydesdale has instructed the Land Registry to do so
The mortgage over my property is with Yorkshire BS for my property in Wennington. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Yorkshire BS?
You must advise Yorkshire BS prior to letting out your property as this is likely to be a breach of Yorkshire BS’s mortgage conditions. It may be that Yorkshire BS will permit you to let 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 Yorkshire BS directly. It should not be necessary to do this via a Yorkshire BS conveyancing panel solicitor.
Due to the input of my in-laws I had a survey completed on a house in Wennington prior to instructing conveyancers. I have been told that there is a flying freehold overhang to the house. Our surveyor advised that some lenders may not issue a loan on this type of home.
It depends who your proposed lender is. Santander has different requirements from Nationwide. Should you wish to telephone us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Wennington. Conveyancing will be smoother if you use a solicitor in Wennington especially if they are acquainted with such properties in Wennington.
What makes your site different to alternative online quote calculators when it comes to conveyancing in Wennington?
At this site obtain a conveyancing costs illustration via a Solicitor or Licensed Conveyancer that has a full understanding of the issues of your conveyancing in Wennington. Unlike many estate agents and many comparison sites we are not in the business of charging firms a fee if you appoint them for your conveyancing in Wennington