My partner and I are buying a newly constructed apartment in Colwall and my solicitor is advising me that she has to the lender to reveal incentives from the developer. I am on a tight deadline to exchange and my preference is not to prolong the conveyancing. Is my lawyer right?
You should not exchange unless you have been advised to do so by your conveyancer. A precondition to being on a mortgage company panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
It is 10 years ago since I acquired my home in Colwall. Conveyancing lawyers have now been retained on the sale but I am unable to find the title deeds. Will this cause complications?
Don’t worry too much. Firstly the deeds may be with your lender or they could be in the possession of the conveyancers who acted in your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you own the property by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Colwall relates to registered property but in the unlikely event that your property is not registered it adds to the complexity but is not insurmountable.
Do I find a Licenced Conveyancer or Solicitor for conveyancing in Colwall?
There are many registered licenced Conveyancers in Colwall and Solicitor practices in Colwall offering conveyancing We would stress that the two are regulated professionals specialising in the legal aspects of transferring property. Both can deal with associated property related work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Is it the case that all Colwall solicitors on the Nottingham conveyancing panel are overseen by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Nottingham conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of mortgage companies do permit licenced conveyancers on their panel and in such a situation the practice would be governed by the CLC.
How can we tell if a Colwall conveyancing solicitor on the Barclays panel is any good?
When it comes to conveyancing in Colwall seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the lawyer handling your transaction.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Colwall is where the house is located. Is there any guidance you can impart?
Flying freeholds in Colwall are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Colwall you must be sure that your lawyer goes through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Colwall may ascertain 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 premises.
In my capacity as executor for the will of my uncle I am selling a house in Neath but live in Colwall. My conveyancer (who is 200 miles awayrequires that I execute a stat dec before the transaction finalising. Can you recommend a conveyancing solicitor in Colwall who can witness this legal document for me?
strictly speaking you should not be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are Colwall based
My 20yr old son is about to join the property ladder, the home loan was agreed last week in principle. When the offer was accepted on apartment we telephoned the mortgage company to progress the mortgage application. We were shocked to discover that banks do not accept all conveyancer, they have to be on a list, is this legal?
Banks normally imposes restrictions either the type or the number of conveyancing solicitors on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Colwall conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.