My husband and I are planning to acquire a property in Ivybridge and are in fact using a Ivybridge conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Godiva Mortgages Ltd have this morning contacted us to advise us that there is now an issue as our Ivybridge lawyer is not on their approved list of lawyers. What do we do from here?
If you are buying a property needing a mortgage it is normal 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 Accreditation 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Ivybridge solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Please could you recommend a Barclays allowed Ivybridge conveyancing conveyancer who can have us moved in within under 3 weeks? Am I best advised to unstruct a high street Ivybridge firm or a web based comparison site?
We can recommend some very good Ivybridge conveyancing firms. You can also walk up the high street in Ivybridge. Visit two or three firms and ask to speak with a conveyancing solicitor for a fee estimate. Explain your time frames together with your reasons and get an assurance on speed. Choose the one that appears most efficient.
In what way does my ID and proof of funds have anything to do with my conveyancing in Ivybridge? Is this really warranted?
In order to comply with Money Laundering Regulations any Ivybridge conveyancing firm will require evidence of your identity in all conveyancing transactions. This is normally satisfied by provision of a passport and an original bank statement or utility account evidencing where you reside.
In accordance with Money Laundering Regulations, property lawyers are obliged by law to validate not only the identity of conveyancing clients but also the source of monies that they receive in respect of any matter. An unwillingness to disclose this will result in your conveyancer terminating their retainer with you, as clearly this will cause a conflict between the set Regulations and a refusal to disclose.
Your property lawyers will have an obligation to notify the appropriate authorities should they believe that any monies received by them may contravene the Money Laundering Regulations.
Do commercial conveyancing searches reveal planned roadworks that may affect a commercial premises in Ivybridge?
Its becoming the norm that commercial conveyancing solicitors in Ivybridge will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Ivybridge. The search result sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Ivybridge.
For every commercial conveyancing transaction in Ivybridge it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can result in delays to Ivybridge commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not ordered for residential conveyancing in Ivybridge.
The deeds to our home are lost. The lawyers who dealt with the conveyancing in Ivybridge 5 years ago are no longer around. What are my options?
Assuming the title is registered the details of your ownership will be recorded by the Land Registry with a Title Number. It is possible to execute a search at the Land Registry, identify your house and order current copies of the property title for less than a fiver. Where the property is Leasehold then the Land Registry will in most cases hold a file duplicate of the Registered Lease and again, a copy can be obtained for twenty pounds.
I decided to have a survey done on a property in Ivybridge in advance of instructing solicitors. I have been told that there is a flying freehold overhang to the property. The surveyor advised that some lenders may not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. Should you wish to call us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ivybridge. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ivybridge to see if the conveyancing costs will increase in light of this.