Unfortunately I am unable to travel far from Bognor Regis. I would like to know the understand why all Bognor Regis conveyancing practitioners are not on all mortgage company panels?
Lenders normally impose restrictions on either the type or volume of conveyancing solicitors on their approved list of lawyers. Frequent examples of such criteria being that the practice must have two or more partners. In addition to restricting the nature of firm, some banks made a decision to reduce the number of organisations they permit to represent them. You should note that banks have no accountability for the standard of service provided by any Bognor Regis conveyancer on their approved list. Property fraud was the primary trigger for the rationalisation of solicitor panels a few years ago even though there are differing points of view concerning whether solicitors sat at the center of that fraud. Statistics published by HM Land Registry indicates that thousands of conveyancing practices only transact a couple of conveyances a year. Those advocating conveyancing panel culls ask why conveyancing firms should have the right to be listed on a lender panel when clearly conveyancing is not their primary expertise?
It is a dozen years since I purchased my home in Bognor Regis. Conveyancing lawyers have now been instructed on the sale but I am unable to track down the title documents. Is this a problem?
Don’t worry too much. Firstly there is a chance that the deeds will be kept by the mortgage company or they may be in the possession of the solicitor who handled the purchase. Secondly in all probability the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing solicitors acquiring current official copies of the land registers. The vast majority of conveyancing in Bognor Regis relates to registered property but in the unlikely event that your property is unregistered it is more tricky but is resolvable.
Are all Bognor Regis Conveyancing Quality Solicitors on the Barclays conveyancing panel?
A selection of banks and building societies now use the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
I am buying a property in Bognor Regis. A rare aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
As your lender is Nottingham your lawyer must check the formal instructions contained in Section 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and conveyancers are required to report to Nottingham where a lease does not meet these specifications. The conditions relate to the installation of panels on properties countrywide and is not restricted to Bognor Regis.
Planning on purchasing a flat in Bognor Regis. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Principality conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Bognor Regis lawyer is on the Principality conveyancing panel.
What will a local search reveal about the property we're buying in Bognor Regis?
Bognor Regis conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for example Searches UK The local search plays an important part in most Bognor Regis conveyancing purchase; as long as you don’t want any nasty surprises after you move into your new home. The search will provide information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
I've recently found out that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a quick, chain free conveyancing. Bognor Regis is where the house is located. Can you offer any assistance?
Flying freeholds in Bognor Regis are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bognor Regis you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bognor Regis may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I was advised by three or four local selling agents in Bognor Regis to find a property lawyer using your seach tool. What’s the financial advantage for Estate Agents to recommend your services ahead of alternative conveyancing organisations?
We refuse to give any referral fee for pointing buyers and sellers in our direction. We thought it would be too underhand a fee as members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.