My financial adviser says he needs my Wymondham solicitor’s panel reference for the HSBC conveyancing panel. Can you suggest how I discover this. I have tried my local Wymondham branch but they don't know it.
Have you tried calling your Wymondham conveyancing practitioner about this?. Most Wymondham law firms will retain a file or database of lender panel information which would include, if applicable, their conveyancing panel details for each mortgage company.
The Wymondham conveyancing solicitors that I appointed last week on my house acquisition in Wymondham have without warning shut down. They were on acting for me because I needed a solicitor on the HSBC conveyancing panel and my family Wymondham lawyer was not. I paid them 275 plus VAT in advance. What are my options?
Assuming that you have an Estate Agent in the equation then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
We have agreed to purchase a house in Wymondham. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
As you are obtaining a mortgage with Lloyds your lawyer must check the conveyancing requirements contained in Part two of UK Finance Lenders’ Handbook for Lloyds. The CML Handbook includes minimum requirements for solar panel roof-space leases, and solicitors are required to report to Lloyds where a lease fails to comply with these specifications. The specifications relate to the installation of panels on properties in England and Wales and is not isolated to Wymondham.
I have paid off my mortgage with Clydesdale. I assume I don't need a Wymondham solicitor on the Clydesdale panel to discharge the mortgage at the Land Registry. Please confirm.
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
I can not fathom if my mortgage offer requires a lease extension. I have called my Wymondham bank branch on various occasions and was told it does not affect the mortgage offer and they will lend. My Wymondham conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I have no idea who is right.
Provided that the conveyancing practitioner is on the lender panel, she or he must adhere to the Council of Mortgage Lenders’ Handbook provisions for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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 bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Various web forums that I have come across warn that are a common reason for delay in Wymondham house deals. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Searches are unlikely to be the root cause of slowing down conveyancing in Wymondham.
I'm buying a new build house in Wymondham with the aid of help to buy. The developers refused to budge the price so I negotiated 6k of additionals instead. The sale representative told me not reveal to my solicitor about the extras as it may impact my mortgage with The Royal Bank of Scotland. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.