I am not in a position to travel far from Fareham. Can you please clarify why all Fareham solicitors are not on all lender panels?
Pre- 2008 most banks had an approach to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into fraud which concluded: know the solicitors on your panel. As a result, banks have since requiredmore information from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Many firms have found themselves removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum volume of transactions the lenders insisted on.
At what point will exchange of contracts occur in domestic conveyancing in Fareham and do I need to attend the conveyancers branch?
Where you are near to our conveyancing solicitors in Fareham you are invited in to sign contracts. That being said, the firms we recommend supply a countrywide conveyancing service and give as equally diligent and professional a job for you when dealing with you digitally. The executing of the property agreement is not the important part. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which will usually be very shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Fareham)to be in the office at the appropriate time.
The Fareham conveyancing lawyers that just started acting on my house acquisition in Fareham have without warning shut down. They were on acting for me because I needed a lawyer on the Bank of Ireland conveyancing panel and my family Fareham lawyer was not. I sent them a cheque for two hundred pounds in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would 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 Bank of Ireland 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.
It has been 2 months since my purchase conveyancing in Fareham concluded. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm purchasing a new build house in Fareham with a mortgage from Virgin Money. The builders would not move on the price so I negotiated 6k of extras instead. The sale representative advised me not reveal to my solicitor about the deal as it could adversely affect my mortgage with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
How can the Landlord & Tenant Act 1954 affect my business property in Fareham and how can your lawyers assist?
The 1954 Act gives a safeguard to business leaseholders, granting the dueness to apply to court for a continuation of occupancy when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Fareham is one of our numerous locations in which our lawyers are based