Is the fact that my solicitor in Lyme Regis is not on my mortgage company's solicitor panel that there is a problem with the standard of her conveyancing?
That is most likely an incorrect assumption to make. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Lyme Regis conveyancing firm and enquire why they are no longer on the approved list for your bank.
I am purchasing a newly constructed flat in Lyme Regis and my lawyer is advising me that she has to the bank to disclose incentives from the seller. The Estate Agents are hassling me to exchange and I have no desire to prolong deal. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook requirements. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Should my solicitor be raising questions about flooding during the conveyancing in Lyme Regis.
Flooding is a growing risk for conveyancers specialising in conveyancing in Lyme Regis. There are those who buy a property in Lyme Regis, completely expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate insurance cover, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to offer advice on flood risk, however there are a various searches that may be undertaken by the purchaser or by their lawyers which can figure out the risks in Lyme Regis. The standard information sent to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to find out if the property has ever been flooded. If the residence has been flooded in past and is not notified by the seller, then a purchaser may issue a claim for damages stemming from an incorrect reply. The purchaser’s conveyancers should also conduct an environmental search. This should disclose whether there is any known flood risk. If so, more detailed investigations should be carried out.
I am purchasing a new build house in Lyme Regis with a loan from Bank of Scotland. The developers would not move on the amount so I negotiated £7000 of additionals instead. The estate agent advised me not disclose to my conveyancer about this deal as it may impact my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In my capacity as executor for the estate of my uncle I am disposing of a residence in Swansea but I am based in Lyme Regis. My solicitor (who is 260 kilometers from meneeds me to sign a statutory declaration before completion. Can you recommend a conveyancing practitioner in Lyme Regis who can witness and place their company stamp on the document?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will be fine regardless of whether they are Lyme Regis based
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £400,000 maisonette in Lyme Regis next Monday. The landlords agents has quoted £384 for Landlord’s certificate, building insurance schedule and 3 years service charge statements. Is the landlord entitled to charge exorbitant fees for a leasehold conveyance in Lyme Regis?
For the majority of leasehold sales in Lyme Regis conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-exchange enquiries
Where consent is required before sale in Lyme Regis
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Lyme Regis Conveyancing for Leasehold Flats - A selection of Questions you should consider before Purchasing
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How much is the service charge and ground rent on the flat? What is the name of the managing agents? The best form of lease structure is where the freehold title is in the ownership of the leaseholders. In this situation the tenants enjoy control and even though a managing agent is often retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves.