I am not well enough to travel far from Broadstairs. What is the rationale as to why all Broadstairs conveyancers aren't included on all lender panels?
Mortgage Companies tend to impose restrictions on either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that the practice is required to have two or more partners. In addition to restricting the nature of firm, some banks such as HSBC made a decision to reduce the number of practices they allow to act for them. It is worth noting that lenders have no accountability for the quality of conveyancing provided by any Broadstairs lawyer on their approved list. Property fraud was the main trigger for the culling of solicitor panels in the last decade notwithstanding that there are differing assessments about whether solicitors sat at the center of that fraud. Data from HMLR reveal that thousands of law practices only conduct one or two conveyances annually. Those supporting conveyancing panel consolidation ask why law firms should have claim to remain on a bank panel when it is evident that conveyancing is not their primary expertise?
My wife and I are only a couple days away from an exchange on a house in Broadstairs and my parents have sent the ten percent deposit to my lawyer. I am now told that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my bank. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I informed the bank concerning my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
Your lawyer is duty bound to check with the bank to ensure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you agree, failing which, your lawyer must cease to continue acting.
Can your site be used to find a Conveyancing solicitor in Broadstairs even if I’m not purchasing or disposing of a house, for instance where I wish to buy a shop in Broadstairs with a mortgage from Coventry Building Society?
Our search tool is primarily there to help choose residential conveyancing solicitors in Broadstairs but we have set out at the bottom of this page some Broadstairs commercial conveyancing firms. You will need to make contact with the solicitors directly to see if they are also authorised to represent Coventry Building Society
What is your number one tip for finding a conveyancing solicitor in Broadstairs
Do not opt for the lowest Broadstairs conveyancing quote. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in ahead of the deal.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, RBS are being pedantic. The Broadstairs solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Principality have agreed my mortgage in principle, my bid on a flat in Broadstairs has been accepted, what are the next steps?
The property agent will need to know who your solicitors are (ensure that the solicitors are on the bank’s panel). Call up Principality or your financial adviser and complete any outstanding forms. Principality will appoint a valuer who will get in contact with the estate agent or seller to book an appointment. Once carried out (assuming no problems) it takes about a week for the mortgage offer to be issued. Principality will issue the offer to you and your solicitors. The legal work will then take it’s course according the nature and complexity of the conveyancing in Broadstairs.
It has been four months following my purchase conveyancing in Broadstairs concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build flat in Broadstairs. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Broadstairs
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?