My wife and I are looking to purchase a property in Deeside and are in fact using a Deeside conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Coventry Building Society have this afternoon contacted us to advise us that they have now hit a problem as our Deeside solicitor is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers 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 bank 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Deeside lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
All was ready to complete my purchase in Deeside next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the lender. What risks does the mortgage company expect the insurance to cover?
All property lawyers on acting for banks 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 UK Finance Lenders’ Handbook instructions. These obligations are not limited to conveyancing in Deeside.
The Deeside conveyancing lawyers that I appointed last week on my house acquisition in Deeside have suddenly shut down. They were on acting for me because I needed a lawyer on the HSBC conveyancing panel and my previous Deeside lawyer was not. I paid them 275 plus VAT in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Hopefully they will be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the HSBC conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to help.
We are aiming to move home in July. Will my conveyancing solicitor communicate with the removal company on the completion day. Incidentally, can you put forward a removal company in Deeside. Conveyancing firm was chosen before I stumbled across this page.
On the afternoon of completion you will need to collect the keys from your selling agent but this should only be done once the previous owners solicitors confirm to the agent that they have the completion monies and the keys can be collected. You will need to inform the removal men that they can start moving you in. As a matter of policy we do not suggest a specific removal company but can help you choose a conveyancing in Deeside or a firm with expertise in conveyancing in Deeside.
My wife and I purchasing a victorian detached house in Deeside. We would like to an extension at the rear at the property.Will the conveyancing process involve enquiries to determine if these works were previously refused?
Your solicitor should check the registered title as conveyancing in Deeside can sometimes identify restrictions in the title deeds which prevent categories of works or require the consent of another owner. Certain works call for local authority planning permissions and approval under the building regulations. Some locations are designated conservation areas and special planning restrictions apply which often prevent or affect extensions. You should check these things with a surveyor ahead of any purchase.
How can we know in advance if a Deeside conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Deeside obtaining 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 advertising the lowest fees. We would always advise that you speak with the solicitor handling your transaction.
I have todayfound out that Arc property Solicitors have closed. They carried out my conveyancing in Deeside for a purchase of a freehold house 10 months ago. How can I check that the property is not still registered in the name of the former proprietor?
The easiest way to check if the property is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Deeside conveyancing specialists.
Our solicitor in Deeside has uncovered a a legal deficiency with the lease for the property we are buying in Deeside. The other side have put forward title insurance as a workaround. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the bank conveyancing panel he must be satisfied that the lender is happy with this solution. Are we the client or is 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. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will 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 lawyer will have no choice but to discontinue acting for you.