Norwich and Peterborough Building Society Conveyancing Panel Example Support Desk Enquires from members of the public
It has come to my attention via my lender that my solicitor is not on the Norwich and Peterborough Building Society Solicitor panel. What can I do to be sure that this is correct?
The first thing you need to do is to contact your lawyer directly. It is reasonable to expect your lawyer to advise you of the situation. If they are not on the panel they could put your in touch with solicitors on the the approved Norwich and Peterborough Building Society solicitor panel.
My fiance and I intend to remortgage our flat with Norwich and Peterborough Building Society. We have a son 19 who lives with us. The solicitor on the Norwich and Peterborough Building Society conveyancing panel requested us to identify any adults other than ourselves who lives in the flat. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the property is forfeited by the lender. I have two questions (1) Is this form unique to the Norwich and Peterborough Building Society conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) In signing this form is our son in any way compromising his right to inherit the property?
First, rest assured that your Norwich and Peterborough Building Society conveyancing panel solicitor is doing the right thing as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Norwich and Peterborough Building Society .This is solely used to protect the Norwich and Peterborough Building Society if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave.
It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Norwich and Peterborough Building Society had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
I have been searching for competitive conveyancing fees. Can I be sure that all the firms that are listed on your website are on the Norwich and Peterborough Building Society conveyancing panel?
The solicitor and licensed conveyancing practices on our directory have advised us that they are on the Norwich and Peterborough Building Society panel and agreed to advise us to take down their listing in the event of removal off of the Norwich and Peterborough Building Society panel. To date we have not been informed by either a mortgage company or a member of the public that the data about a specific firm being on the Norwich and Peterborough Building Society conveyancing panel is not accurate.
The firm that I appointed last week on my house acquisition in Manchester has without warning shut down. I only went with them because I needed a firm on the Norwich and Peterborough Building Society conveyancing panel and my preferred lawyer was not. I gave my credit card details for them to take £175 for searches. What do I do now?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to the problems encountered. Hopefully they will 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 Norwich and Peterborough Building Society 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 lawyers may be able to assist
Is it the case that all conveyancing solicitors on the Norwich and Peterborough Building Society conveyancing panel work on a no sale no fee basis?
In the main there are no requirements by lenders for their firms to operate on a no-sale-no-fee basis. There a small number of lenders who operate a very restricted conveyancing panel managed by a third party company (often termed in the industry as a ‘gatekeeper’). That third party may impose certain conditions such as non-sale-no fee on the panel firms. If you require this as a condition of your conveyancing then you should check with the conveyancing firm that this is part of their service
I have a mortgage with Norwich and Peterborough Building Society. My grandfather retired last week and wants to pay off my mortgage. After Norwich and Peterborough Building Society is paid, I want to transfer the property to my mother's name; How long does the process take? Do we need two separate solicitors on the Norwich and Peterborough Building Society conveyancing panel? I do not intend to live at the property once the Norwich and Peterborough Building Society mortgage is discharged.
Although you do need to retain the services of a lawyer they dont
need to be on the Norwich and Peterborough Building Society panel.
You will need a solicitor to draw up the transfer and
to deal with the Land Registry formalities. The only thing you need to
consider is that by selling at an undervalue so ask your lawyer about
the implications. There could be an inheritance tax issue if you die
within 7 years of this. There's no capital gains tax for you as it is
your main residence.
After shopping around on the internet I have found a solicitor having made sure that they are on the Norwich and Peterborough Building Society conveyancing panel. Does my lawyer arrange the survey of the property?
Or
Having read lots of house buying,I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my solicitor - who is on the Norwich and Peterborough Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Norwich and Peterborough Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Norwich and Peterborough Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey.
You may wish to consider appointing your own surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
or
Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by postcode. As you are getting a mortgage with Norwich and Peterborough Building Society you could contact your them to see if they have a list of approved surveyors.