My fiance and I are looking to buy a flat in Albany Park and have appointed a Albany Park conveyancing practice. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Ireland have this afternoon contacted us to advise us that they have now hit a problem as our Albany Park lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is usual 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 property lawyer 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Albany Park lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Will commercial conveyancing searches disclose impending roadworks that may affect a commercial premises in Albany Park?
Its becoming the norm that commercial conveyancing solicitors in Albany Park will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Albany Park. The search result provides 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 Albany Park.
For every commercial conveyancing transaction in Albany Park it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to Albany Park commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for residential conveyancing in Albany Park.
I have recentlybecome aware that Action Conveyancing have been shut down. They carried out my conveyancing in Albany Park for a purchase of a freehold house 12 months ago. How can I be sure that the property is not still registered in the name of the former proprietor?
The quickest way to see if the premises is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Albany Park conveyancing specialists.
I am purchasing my first flat in Albany Park with a loan from Nationwide Building Society. The developers refused to reduce the amount so I negotiated 6k of extras instead. The sale representative told me not reveal to my conveyancer about the extras as it would impact my mortgage with the lender. Should I keep quiet?.
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.
I need to appoint a conveyancing solicitor for freehold conveyancing in Albany Park. I happened to stumble upon a site which seems to have the perfect solution If it is possible to get all the legals done via phone that would be preferable. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Developers have recommended to me a conveyancer and I've sought a quote from them. It's nearly three hundred pounds less expensive than my family Albany Park conveyancer. Should I use them?
Housebuilders frequently have lists of property lawyers who are quick and who know the builder's documentation and lawyer. As many developers offer an incentive to choose a preferred property lawyer for this reason, any increased charges can be avoided and a developer will not recommend a conveyancing factory and run the risk of having the transaction stall when they need an exchange within a tight time frame. The argument for not agreeing to use the suggested conveyancer is that they may be hesitant to fight for your interests for fear of alienating the sellers. Where you have concerns that this may be the case you should keep with your high street Albany Park conveyancing practitioner.