I am expecting a mortgage offer from Nat West. I would like to instruct a Licensed Conveyancer in Catshill. Does the Nat West Solicitor panel exclude Licensed Conveyancers?
The Nat West approved solicitor list is, like many other lenders, associated to the CML or Building Society Association, open to Licensed Conveyancers regulated by the CLC.
Our lawyer has uncovered a defect with the lease for the apartment we are buying in Catshill. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our property lawyer has advised that he must check that the lender is willing to move forward with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your lawyer must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank 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 solicitor will have no choice but to discontinue acting for you.
What does my ID and proof of funds have anything to do with my conveyancing in Catshill? Is this really necessary?
Catshill conveyancing solicitors and indeed property lawyers throughout the UK have an obligation under Anti-terror and anti-money-laundering rules to verify the ID of any client with a view to satisfy themselves that clients are who they say they are.
Conveyancing clients will need to disclose two forms of certified identification; proof of ID (typically a Passport or Driving Licence) and evidence of address (typically a Bank Statement less than 3 months old).
Proof of the origin of monies is also necessary in accordance with the money laundering regulations as conveyancers are duty bound to investigate that the funds you are utilising to acquire a property (be it the exchange deposit or the full purchase price where you are buying without a mortgage) has come from an acceptable source (such as employment savings) rather than the fruits of criminal behaviour.
If you had a top tip for choosing a conveyancing solicitor in Catshill what would it be?
Do not opt for the cheapest Catshill conveyancing fees. You really do get what you’re paying 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 go into the conveyancing with your eyes wide open.
Have just purchased a repossessed house at auction in Catshill. Conveyancing is necessary. What is next?
Now that you have for in every practical sense signed on the dotted line you now have to instruct a conveyancing lawyer soon as you are facing a pending deadline in which to complete the conveyancing. Every auction property will have a corresponding auction pack. This will likely include the copy title deeds, local authority and drainage searches. In the case of leasehold property the legal papers may provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You should give this to your appointed conveyancing solicitor at the earliest opportunity. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
I recently had an offer agreed on an apartment in Catshill. My financial adviser recommended their conveyancers. I paid an upfront payment of £200. A couple of days later, the conveyancer contacted me sheepishly admitting that they were not on the Nottingham conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nottingham panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Do commercial conveyancing searches reveal planned roadworks that may impact a commercial premises in Catshill?
Many commercial conveyancing solicitors in Catshill will conduct a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in researching accurate data on highways that impact buildings and development assets in Catshill. The report sets out definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Catshill.
For each commercial conveyancing transaction in Catshill it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately can cause delays to Catshill commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Catshill.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a straight forward, no chain conveyancing. Catshill is where the house is located. Can you offer any guidance?
Flying freeholds in Catshill are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Catshill you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Catshill may determine 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.