My fiance and I are planning to buy a house in Longhope and are in fact using a Longhope conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Aldermore have this afternoon contacted us to inform me that there is now an issue as our Longhope solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is standard 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 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 bank's conveyancing panel and you may continue to use your own Longhope solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
Why do I have to pay up front for my conveyancing in Longhope?
Where you are retaining lawyers for conveyancing in Longhope your lawyer will ask you to provide them with monies to cover the search fees. Normally this is asked for to cover the fees of the Local Authority Search. When the deposit is as part of the purchase price then this should be asked for shortly prior to contracts are exchanged. The final balance that is needed will be payable shortly before completion.
I'm the only beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Longhope. Conveyancing formalities meant that the Land Registry date was in March. I want to move. I understand that there is a Mortgage Lenders 6 month 'rule', which means that my proprietorship may be treated the same way as though I had purchased the property in March. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook obliges solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. How practical a view mortgage companies take of it, depend on the mortgage company as this clause is chiefly there to identify subsales or the quick reselling of property.
We expect to receive a AIP from Aldermore this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Aldermore recommend any Longhope solicitors on the Aldermore conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Longhope solicitors independently although you'll need to choose one on the Aldermore conveyancing panel. The solicitor represents both you and Aldermore through the process.
I am selling my apartment. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Barclays are being problematic. The Longhope solicitor who is on the Barclays conveyancing panel is recommending indemnity insurance as a solution but Barclays are insisting on a building regulation certificate. Why do Barclays have a conveyancing panel if they don't accept advice from them?
It is probably the case that Barclays have referred the matter to their valuer. The reason why Barclays may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have recentlybecome aware that Stirling Law have been shut down. They carried out my conveyancing in Longhope for a purchase of a leasehold flat 9 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest method to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Longhope conveyancing specialists.
Just had an offer accepted on a new build apartment in Longhope. Conveyancing is a frightening process 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 conveyancing.
Set out below is a sample of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Longhope
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are surveyor prepared. 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. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I have been sourcing a conveyancing practitioner in Longhope for my home move. Is it possible to see a solicitor's record with the legal regulator?
One may read documented Solicitor Regulator Association (SRA) decisions resulting from inquisitions started on or after 1 January 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, dial +44 (0)121 329 6800. The SRA sometimes monitor telephone calls for training requirements.