I am in the process of selling my apartment in Chilwell and the estate agent has just called to warn that the purchasers are appointing a new conveyancer. I am told that this is due to the fact that the bank will only engage with solicitors on their approved list. Why would a big named mortgage company only deal with specific solicitors rather the firm that they want to choose for their conveyancing in Chilwell ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Banks attribute this action to a rise in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
A relative pointed out to me me that in buying a property in Chilwell there may be various restrictions prohibiting external changes to the property. Is this right?
There are a number of properties in Chilwell which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Chilwell should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Chilwell CQS (Conveyancing Quality Scheme) solicitors are on the UBS conveyancing list of approved firms?
A selection of banks and building societies now utilise CQS as the starting point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
Does a directory service exist listing Yorkshire BS panel solicitors in Chilwell on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association sites. A small selection of banks make their panel listings viewable on the web. Where you are looking for a Chilwell conveyancer on the Yorkshire BS please make the most of our tool.
Will our solicitor be raising enquiries regarding flooding as part of the conveyancing in Chilwell.
Flooding is a growing risk for solicitors conducting conveyancing in Chilwell. Some people will purchase a house in Chilwell, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a various checks that may be carried out by the buyer or by their conveyancers which can figure out the risks in Chilwell. The standard information supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to discover whether the property has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a buyer could issue a compensation claim as a result of such an incorrect answer. A purchaser’s solicitors may also conduct an enviro report. This will disclose whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
About to purchase a new build flat in Chilwell. Conveyancing is necessary evil 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.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Chilwell
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I opted to have a survey carried out on a house in Chilwell in advance of retaining conveyancers. I have been informed that there is a flying freehold aspect to the house. My surveyor has said that some mortgage companies tend not give a loan on this type of home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you e-mail us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Chilwell. Conveyancing may be slightly more expensive based on your lender's requirements.
As co-executor for the will of my uncle I am disposing of a property in Cardiff but reside in Chilwell. My lawyer (approximately 250 kilometers from merequires that I execute a statutory declaration before completion. Can you recommend a conveyancing practitioner in Chilwell who can attest this legal document for me?
strictly speaking you should not be required to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will do regardless of whether they are Chilwell based