Unfortunately I am unable to travel far from Alnwick. Please spell out why all Alnwick property lawyers aren't automatically on all bank panels?
Pre- 2008 most banks had an approach to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, lenders have subsequently looked to extract more information from law firms about their operations and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many law practices have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum amount of transactions the lenders insisted on.
Is it possible for conveyancing in Alnwick to be completed in under 3 weeks?
In the event that you are under a tight deadline for your conveyancing we would recommend that your solicitor is familiar with the area as they will make use of local contacts and intelligence. It is even conceivable that they could have conducted otherhouses in the same street. You would be best advised to use a Alnwick conveyancing lawyer. In addition, check that the lawyer is on the lender panel. It is said that nearly one in five of Alnwick conveyancing deals are held up or jeopardised after finding out that a buyer’s lawyer was not on their banks list of approved solicitors. This can often result in the conveyancing being held up by as much as 21 days. It is claimed that this issue affects approximately 100,000 home moves annually. Most Alnwick conveyancing practices can not act for certain mortgage companies so do check at the outset.
Me and my partner are buying a house in Alnwick. I might seem paranoid but how we can trust a lawyer? At some point we will need to put our life savings into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
is it true that all Alnwick solicitor practices on the UBS conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Many banks do list licenced conveyancers on their panel in which case such organisation would be overseen by the CLC.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Alnwick building society branch on a couple of occasions and was reassured it wasn't a problem and they will lend. My Alnwick conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they would not lend based on their specific requirements. I simply don't know who is right.
As long as the lawyer is on the lender approved list, she or he must comply with the CML Handbook requirements for the lender. 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 mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am intent on selling our house in Alnwick and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. Any local lawyer would know this is not the case. It does beg the question why the buyers instructed a web based conveyancing practice as opposed to a conveyancing solicitor in Alnwick. Having lived in Alnwick for 5 years we know that this is a non issue. Should we contact our local Authority to obtain clarification need.
It sounds as though you may have a conveyancing firm currently acting for you. Are they able to advise? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am purchasing my first flat in Alnwick with the aid of help to buy. The sellers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent advised me not to tell my conveyancer about the deal as it may put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In what way does the Landlord & Tenant Act 1954 impact my business property in Alnwick and how can you help?
The particular law that you refer to affords a safeguard to business tenants, granting the right to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act for protection and help with commercial conveyancing in Alnwick