My husband and I are looking to purchase a flat in Coleshill and are in fact using a Coleshill conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Aldermore have this morning contacted us to inform me that they have now hit a problem as our Coleshill lawyer is not on their conveyancing panel. Please explain?
Where you are buying a property needing a mortgage it is conventional for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Coleshill solicitors, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Due to complete my purchase in Coleshill next Monday. My conveyancing practitioner now wants me to supply her with evidence 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 risks does the bank expect the insurance to cover?
All property lawyers on acting for mortgage companies 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 obligations are not limited to conveyancing in Coleshill.
When does exchange of contracts take place for residential conveyancing in Coleshill and do I need to attend the lawyers branch?
If you are local to one of the conveyancing solicitors in Coleshill you are invited in to sign documents. However, the firms we work with provide a national conveyancing service and give as equally comprehensive and professional a job for you when communicating with you digitally. The signing of the contract is not the critical part. A signed contract simply enables the conveyancer to exchange contracts when the time is right, which is ordinarily shortly after signing. The exchange process is nowadays normally dealt with by telephone and can be very rapid, although where a lengthy "chain" is involved, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Coleshill)to be in the office at the appropriate time.
My fiance and I are hoping to buy a newbuild flat in Coleshill with a homeloan from Platform Home Loans Ltd.We like our Coleshill conveyancing solicitor but Platform Home Loans Ltd informed us she’s not listed on their approved list of member firms. It seems we are left with little choice but to instruct a Platform Home Loans Ltd panel lawyer or retain our local solicitor and pay for a Platform Home Loans Ltd panel lawyer to represent them. This seems very unfair; is there anything we can do?
No, not really. The mortgage issued to you is subject to its various provisions, a common one being that lawyers needs to be on the Platform Home Loans Ltd approved list. in the past, most lenders had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Platform Home Loans Ltd
How does the Landlord & Tenant Act 1954 impact my business property in Coleshill and how can your lawyers assist?
The particular law that you refer to gives security of tenure to commercial tenants, granting the dueness to apply to court for a continuation of occupancy at the end of an expired lease. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and assist with commercial conveyancing in Coleshill
As co-executor for the estate of my uncle I am selling a house in Neath but live in Coleshill. My solicitor (approximately 260 kilometers awayhas requested that I sign a stat dec prior to the transaction finalising. Can you recommend a conveyancing lawyer in Coleshill who can witness this legal document for me?
strictly speaking you should not need to have the documents attested by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are based in Coleshill