Unfortunately I am unable to travel far from Carmel. I would like to know the understand why all Carmel lawyers aren't automatically on all lender panels?
Mortgage Companies ordinarily impose restrictions on either the nature or the number of conveyancing firms on their approved list of lawyers. Frequent examples of such restriction(s) being that the organisation must have at least two partners. As well as restricting the structure of firm, some have decided to limit the number of practices they permit to act for them. It is worth noting that banks have no responsibility for the standard of service supplied by any Carmel property lawyer on their panel. Property fraud was the main trigger for the rationalisation of solicitor panels in the last decade notwithstanding that there are conflicting views concerning whether solicitors sat at the center of that fraud. Data via HMLR indicates that thousands of conveyancing practices only carry out a couple of conveyances a year. Those vindicating conveyancing panel consolidation ask why conveyancing firms deserve the right to be listed on a bank panel when clearly property law is not their speciality?
My conveyancer has uncovered a a problem with the lease for the property we are buying in Carmel. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancer says that he must ensure that the bank is willing to move forward with this solution. Are we the client or is the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. Your conveyancing practitioner must comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
It is a dozen years since I purchased my property in Carmel. Conveyancing lawyers have recently been retained on the sale but I can't locate my title deeds. Will this jeopardise the sale?
Don’t worry too much. First the deeds may be with your mortgage company or they may be archived with the lawyers who oversaw the purchase. Secondly the likelihood is that the title will be recorded at the land registry and you will be able to prove you own the property by your conveyancing lawyers obtaining current official copies of the land registers. Most conveyancing in Carmel involves registered property but in the unlikely event that your home is not registered it adds to the complexity but is resolvable.
We're in Carmel, FTBs purchasing with a mortgage (lender is Santander , and our lawyer is on the Santander conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Santander conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no property lawyer should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
My bid for a property was accepted at auction in Carmel. Conveyancing is needed. What is next?
Now that you are exchanged you will need to instruct a conveyancing lawyer soon as you are faced with a fast approaching a drop dead date to complete the purchase. An auction property should have a corresponding auction set of papers. This should include most,if not all of the documents that your conveyancer requires. In the case of leasehold premises the legal pack may contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork specific to a leasehold property. You must give this to your appointed conveyancing solicitor as soon as possible. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
I am selling my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Barclays are being problematic. The Carmel solicitor who is on the Barclays conveyancing panel is saying indemnity insurance will be fine but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays 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.
Our sealed bid on a house in Carmel has been accepted, the sellers do nevertheless have a dependent purchase. The sellers have offered on on an apartment, but it’s not yet agreed to, and have viewings of other flats in the pipeline. I have chosen a bricks and mortar conveyancing solicitor in Carmel. What should be my next step? At what stage do I apply for the mortgage with Virgin Money?
It is normal to have apprehensions where there is a chain as you are unlikely to want to be too out of pocket too early (mortgage application is in the region of £1k, then valuation, Carmel conveyancing search costs, etc). First, you should check that your solicitor is on the Virgin Money conveyancing panel. As to the next stages this very much depends on the circumstances of your case, motivation for the property and on the state of the market. During a buoyant market many home buyers will apply for a home loan with Virgin Money and pay for the valuation and only if it comes back ok would they pay their lawyer to proceed with the conveyancing in Carmel.
We are soon to purchasing a house in Carmel. Can the lawyer keep our transaction price a secret from sites such as Zoopla. How can this be achieved ?
The Land Registry by statute are required to reveal price paid data on a register of the title for residential properties countrywide which includes premises in Carmel. The register of title is an open document, so HMLR would be breaching their statutory duty if they did not permit access to the register.
In essence you can ask HMLR to hide the price paid entry however the answer will be a No.