My wife and I are hoping to acquire a home in Adlington and are in fact using a Adlington conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this morning contacted us to advise us that they have now hit a problem as our Adlington conveyancer is not on their conveyancing panel. Is this a problem?
If you are buying a property needing a mortgage it is usual for the purchasers' lawyers 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 Quality Scheme. Your solicitor should contact your bank 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 lender’s conveyancing panel and you may continue to use your own Adlington solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
My partner and I are buying a new build apartment in Adlington and my conveyancer is advising me that she has to the mortgage company to disclose incentives from the developer. I am under pressure to exchange and I would rather not prolong matters. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Should commercial conveyancing searches reveal impending roadworks that could affect a commercial site in Adlington?
Its becoming the norm that commercial conveyancing solicitors in Adlington will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Adlington. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Adlington.
For each commercial conveyancing transaction in Adlington it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately may result in delays to Adlington commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Adlington.
Are there restrictive covenants that are commonly picked up during conveyancing in Adlington?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Adlington. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I decided to have a survey carried out on a property in Adlington in advance of appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some lenders will refuse to issue a mortgage on a flying freehold property.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. If you e-mail us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Adlington. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Adlington to see if the conveyancing costs will increase in light of this.
We are looking to purchase a repression flat in Adlington and the bank selling require completion inside a week. Can a lawyer meet that timeframe? Would it be better to select a local Adlington firm or an online firm that professes to offer speedy conveyancing?
Visit your Adlington high street. Go in to two or three companies and ask to see a conveyancing solicitor for an estimate. Discuss your requirements and get assurances on deadlines. Choose the firm that seems most genuine. You need to select a solicitor on the list of conveyancing practitioners acceptable to your bank.