My husband and I are looking to purchase a property in Liverpool and have instructed a Liverpool conveyancing firm. Within the past 48 hours our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Platform Home Loans Ltd have this morning contacted us to advise us that they have now hit a problem as our Liverpool solicitor is not on their approved list of lawyers. Please explain?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' lawyers to also represent 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 mortgage company 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 lender’s conveyancing panel as you are at liberty to use your preferred Liverpool lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
We are getting closer to an exchange on a flat in Liverpool and my mum and dad have sent the ten percent deposit to my conveyancer. I am now told that as the deposit has not come from me my conveyancer needs to disclose this to my bank. 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 mortgage company regarding my parents' contribution when I applied for the mortgage, so is it really necessary for him to raise this?
The conveyancer is duty bound to clarify with lender to make sure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Can you clarify what the consequences are if my solicitor is suspended from the UBS Conveyancing panel ahead of completing my conveyancing in Liverpool?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Should my lawyer be raising enquiries concerning flooding as part of the conveyancing in Liverpool.
Flooding is a growing risk for solicitors conducting conveyancing in Liverpool. Plenty of people will buy a property in Liverpool, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to offer advice on flood risk, however there are a numerous searches that can be carried out by the buyer or on a buyer’s behalf which should give them a better understanding of the risks in Liverpool. The conventional set of information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to find out whether the premises has suffered from flooding. If flooding has previously occurred which is not notified by the seller, then a purchaser may commence a compensation claim stemming from an misleading response. The buyer’s lawyers may also conduct an enviro search. This should higlight if there is a recorded flood risk. If so, more detailed inquiries will need to be conducted.
I opted to have a survey carried out on a house in Liverpool before retaining conveyancers. I have been advised that there is a flying freehold element to the house. The surveyor advised that some lenders will not grant a mortgage on a flying freehold house.
It varies from the lender to lender. Santander has different requirements for example to Nationwide. If you contact us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Liverpool. Conveyancing will be smoother if you use a solicitor in Liverpool especially if they are familiar with such properties in Liverpool.
My in 2005. He has got married, divorced and is now remarried. He now wishes to the sell the Liverpool property. I suspect that he will just be need to provide a copy of his marriage certificates to the conveyancer however he is anxious it could frustrate the home move. Should he instruct a conveyancing practitioner to update the Land Registry information for the house?
It is not absolutely necessary to update the register as long as you have the proof required to demonstrate how the name change resulted.
Any purchaser’s lawyer should examine the land registry details and requisition evidence to prove the name change for instance marriage documentation.