I am not well enough to travel far from Lunt. I would like to know the understand why all Lunt lawyers are not on all bank panels?
Pre- 2008 most banks exhibited an attitude to risk which differs from the current day. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which concluded: know the lawyers on your panel. Accordingly, lenders have since looked to extract more information from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum amount of transactions. Thousands of firms have been removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum amount of transactions the lenders set.
The sellers of the property we are hoping to buy are using a conveyancing firm in Lunt who has suggested a exclusivity contract with a payment 6,000. Is it wise to enter into such agreements?
This type of arrangement is unusual in Lunt, conveyancers will often try and steer clients away from them as they detract from the main conveyancing focus and if you end up losing your deposit then the solicitor is left exposed. In addition, there is no certainty that just because the proprietor has signed an exclusivity agreement they will sell to you. They may be inclined to break the agreement if they are offered a big enough incentive to do so because an aggrieved claimant with the benefit of a exclusivitycontract will still be duty bound to establish consequential losses from the breach and these may not compare to the extra amount that your seller may obtain by breaching the agreement, no matter how morally reprehensible the behaviour is.
We see that you have a post code search directory identifying solicitors on the Kent Reliance conveyancing panel. Do companies pay you a referral fee if I appoint them for our conveyancing in Lunt?
We are a listing service only for law firms wishing to communicate if they are on the Kent Reliance conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Lunt.
My flat in Lunt is up for sale and I have accepted an offer. Does the lawyer have to be required to be on the Principality conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Principality conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their specifications fairly frequently in recent years.
My partner and I are downsizing from our home in Lunt and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. A high street Lunt lawyer would know this is not the case. For the life of me I don't know why the purchasers used a web based conveyancing practice rather than a conveyancing solicitor in Lunt. We have lived in Lunt for three years we know that this is a non issue. Do we contact our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, chain free conveyancing. Lunt is the location of the property. Can you shed any light on this issue?
Flying freeholds in Lunt are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Lunt you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lunt 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 property.