I was advised recently by my broker that my Canvey Island lawyer is not on the lender Solicitor panel. What can I do to be sure that this is correct?
You need to call your Canvey Island lawyer directly. You lawyer should inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
Due to move into my new home in Canvey Island next Tuesday. My solicitor now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These requirements are not unique to conveyancing in Canvey Island.
I am considering applying for a Co-operative mortgage for purchase of a new build (under development) in Canvey Island with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Co-operative ?
There is nothing to stop you using your solicitor, but Co-operative will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
What is the difference between a licensed conveyancer and conveyancing solicitor in Canvey Island
There are many recorded licenced Conveyancers in Canvey Island and Solicitor practices in Canvey Island who can assist with your conveyancing It is important to make clear that the two are supervised by regulatory bodies with both specialising in the legal aspects of transferring property. The two can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
When it comes to mortgage companies such as Santander, do Canvey Island property lawyers face an annual charge to be on the conveyancing panel?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am buying a property in Canvey Island. A rare aspect is that the roof has a solar panel. Santander have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Santander your lawyer must comply with the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook contains minimum requirements for solar panel roof-space leases, and lawyers are required to report to Santander where a lease does not meet these specifications. The provisions relate to the installation of panels on properties countrywide and is not limited to Canvey Island.
I have been told that property searches are the number one reason for obstruction in Canvey Island house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of hindrances during the legal transfer of property. Local searches are not likely to be the root cause of slowing down conveyancing in Canvey Island.
We have recently had a bid accepted on our 1st house in Canvey Island, and need to get solicitors appointed. We have utilised the different rating tools and the fee estimates are from all over the country. Is it critical to have a Canvey Island conveyancer local to the potential new home? We are willing to do everything over the internet, but I assume at some stage we may need to physically go into the conveyancing practitioner's office to sign contracts?
There is no need to attend the office of your solicitor, they can post any relevant contracts to you, which you can sign and return. Many home movers prefer to use a locally based solicitor, but it's by no means a prerequisite for conveyancing in Canvey Island.