I am not well enough to travel far from Faversham. Is there a reason why all Faversham conveyancing practitioners aren't automatically on all bank panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies purging a number of firms from their official list of approved property lawyers .
I have been told that property searches are the main cause of obstruction in Faversham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) released determinations of research by MoveWithUs that conveyancing searches do not feature within the common causes of delays during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Faversham.
three months have gone by following my purchase conveyancing in Faversham completed. I have checked the Land Registry website which shows that I paid £175,000 when infact I paid £170,000. 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 residence 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.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a straight forward, chain free conveyancing. Faversham is where the house is located. Can you shed any light on this issue?
Flying freeholds in Faversham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Faversham you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Faversham 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 residence.
Is there anything unique about your site and other internet conveyancing brokers when it comes to conveyancing in Faversham?
At this site receive a conveyancing quote from a Solicitor or Licensed Conveyancer that has a full understanding of the issues for your conveyancing in Faversham. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you choose them for your home move in Faversham
My wife and I have chosen a Faversham conveyancing solicitor for our home move (novice purchasers) and have noticed in the terms and conditions that they are not governed by the Financial Conduct Authority. Should I be worried or is that usually the case with conveyancing practitioner?
We can't see why they should be. Most conveyancing practitioner don't lend money. You should check that they are regulated by the SRA, who have specific rules in relation to funds deposited on client account.