I am nearing exchange of contracts for my house in Gurnard and the estate agent has just e-mailed to advise that the buyers are changing their solicitor. I am told that this is due to the fact that the lender will only work with solicitors on their approved list. On what basis would a major lender only deal with certain solicitors rather the firm that they want to select for their conveyancing in Gurnard ?
UK lenders have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies attribute this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any sway in the decision.
My wife and I are getting closer to an exchange on a property in Gurnard and my mum and dad have transferred the exchange deposit to my lawyer. I am now advised that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the mortgage company he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?
Your solicitor is legally required to check with mortgage company to make sure that they know that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you permit them to, failing which, your lawyer must cease to continue acting.
I am helping my step-mother sell her property in Gurnard. Does the conveyancer order an energy performance certificate or it is for me to see to?
After the abolition of Home Information Packs, EPC’s was maintained a compulsory part of selling a property. An EPC must be to hand prior to the property being advertised. This is not a task that solicitors normally organise. If you are using a Gurnard conveyancing practitioner they may be able to arrange energy assessments due to their contacts with reputable local providers
I was told two weeks ago that my mortgage has been agreed to by Aldermore. Is it usual for Aldermore to only issue the offer once my solicitor in Gurnard is approved on their conveyancing panel? Aldermore have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Aldermore to deal with your lawyer's application to be on the Aldermore conveyancing panel. There's no guarantee that your solicitor will be accepted.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Gurnard solicitor - who is on the Barclays conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Barclays will need an independent valuation of the property. Your lawyer will not arrange this. Usually Barclays will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Gurnard postcode. As you are getting a mortgage with Barclays, you could contact them to see if they have a list of approved surveyors in Gurnard.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Gurnard. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Gurnard
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
My father has recommend that I use his conveyancers in Gurnard. Do I follow his advice?
No doubt the best way to select a conveyancing solicitor is to seek feedback from friends or relatives who have used the firm that you are considering.
I was advised by my bank that their panel solicitors operate no move no charge basis for conveyancing in Gurnard. I had a purchase fall through yet the conveyancers have invoiced for search fees! They are claiming that the fees are independent!
in offering "no sale no fee" Gurnard conveyancing firms are waiving their fees for any work conducted. We should make it clear that this does not constitute an insurance scheme. Disbursements aren’t covered – where the solicitor have to pay money out to other people, e.g. Gurnard local search fees