I am not in a position to travel far from Bushey. I would like to know the reason why all Bushey conveyancing practitioners are not on all mortgage company panels?
Before the recession most lenders displayed an attitude to risk which is different from today. The Financial Services Authority in 2010 carried out a thematic review into property fraud which concluded: know the lawyers on your panel. Consequently, banks have since looked to extract more information from law firms about their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of law practices have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of volume of transactions the mortgage companies set.
It is a dozen years since I bought my home in Bushey. Conveyancing solicitors have now been instructed on the sale but I am unable to find the title deeds. Is this a major issue?
Don’t worry too much. First the deeds may be retained by your lender or they may be archived with the solicitor who oversaw your purchase. Secondly the likelihood is that the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors obtaining up to date copy of the land registers. Nearly all conveyancing in Bushey involves registered property but in the unlikely event that your property is not registered it adds to the complexity but is resolvable.
Do I need to have a meeting at the offices of the solicitor to sign the mortgage deed? If so, I will appoint a lawyer who conducts conveyancing in Bushey so that I can pop in to their offices when needed.
Whereas this was necessary ten years ago, almost all mortgage companies no longer require their conveyancing panel solicitor to witness the mortgagors signature. You will still be obliged to provide ID documents and there are still manifest advantages to using a locally based ayer, in your case a conveyancing solicitor in Bushey.
Should our conveyancer be raising questions regarding flooding during the conveyancing in Bushey.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Bushey. Some people will purchase a house in Bushey, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not qualified to impart advice on flood risk, but there are a various searches that may be initiated by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Bushey. The standard information sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to discover whether the premises has historically flooded. In the event that the property has been flooded in past which is not notified by the vendor, then a purchaser may issue a claim for damages resulting from an inaccurate reply. A purchaser’s conveyancers will also commission an enviro search. This should disclose if there is any known flood risk. If so, more detailed inquiries will need to be conducted.
I am buying a new build house in Bushey with a loan from Bank of Ireland. The builders would not move on the amount so I negotiated 6k of fixtures and fittings instead. The house builders rep suggested that I not reveal to my lawyer about this deal as it may put at risk my mortgage with Bank of Ireland. 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 today found out that one of the directors of the solicitors undertaking the purchase conveyancing in Bushey is a relative of the owners that we are purchasing from. Is this allowed?
Provided there is no conflict of interest this is permitted. If you are needing mortgage finance then the mortgage company may have a say as many mortgage companies have specific instructions concerning this. For example for RBS - Direct Line One as of 24/2/2025, the requirements read as follows :