Our conveyancer has uncovered a a legal deficiency with the lease for the flat we are purchasing in Lyneham. The other side have suggested defective title insurance as a workaround. We are happy with insurance and will pay for it. Our property lawyer has advised that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the bank?
Regardless of the fact that you have a mortgage offer from the mortgage company does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook provisions. You and the lender are the client. The appropriate lender provisions have to be complied with.
Do the Building Society Association intend to launch a search tool with a view to list law firms on the Norwich and Peterborough Building Society conveyancing panel for example in Lyneham?
We would not expect to be advised of any intention on the part of the BSA to develop such a register.
Is it the case that all Lyneham CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
Some major lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. CQS accreditation however is no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of conveyancing solicitors.
How can we tell if a Lyneham conveyancing solicitor on the Co-operative panel is any good?
When it comes to conveyancing in Lyneham seeking recommendations is a good start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor carrying out your transaction.
My sealed bid on a property in Lyneham has been accepted, but there is a chain. The vendors have offered on on an apartment, but it’s not been accepted yet, and are looking at other properties in the pipeline. I have instructed a nearby conveyancing solicitor in Lyneham. What should be my next step? At what point do I apply for the mortgage with Virgin Money?
It is usual to have concerns where there is a chain as you are unlikely to want to incur costs too early (mortgage application is approx £1k, then valuation, Lyneham conveyancing search fees, etc). First, you should ensure that your conveyancing practitioner is on the Virgin Money approved list. Concerning the subsequent stages this very much dictated by the circumstances of your case, motivation for this property and on the state of the market. In a hot market some home buyers will apply for a home loan with Virgin Money and arrange for the valuation and only if it was satisfactory would they ask their solicitor to proceed with the conveyancing in Lyneham.
I have been told that property searches are the main reason for hinderance in Lyneham conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not figure within the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to feature in any holding up conveyancing in Lyneham.
We're new to the buying process - agreed a price, yet the selling agent has warned us that the vendor will only move forward if we use the agent's preferred lawyers as they are insisting on an ‘expedited deal’. Our preferred option is to instruct a high street solicitor accustomed to conveyancing in Lyneham
We suspect that the owner is unaware of this demand. Should the owner desire ‘a quick sale', taking such a hostile approach to a motivated purchaser is likely to cause more damage than good. Avoid the agents and go straight to the sellers and make sure they understand (a)you are motivated buyers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you intend to instruct your preferred Lyneham conveyancing solicitors - not the ones that will earn the estate agent a kickback or meet his conveyancing targets set by head office.
A licensed conveyancer handled my conveyancing in Lyneham 8 years past and was holding my title documents but has now closed – What steps do I now take to get hold of them?
Deeds, as such, are no longer appropriate for the majority of properties in Lyneham are archived digitally at Land Registry. If you need to establish ownership or are selling or re-mortgaging your lawyer will need to obtain up to date copies of the register from the Land Registry in any case.
If you feel there may be other documents or you have any other queries please e-mail your request with details of the transaction and documents you need to filerequest@clc-uk.org. The CLC will let you know what information they have and any additional information they may need before they are in a position to identify and send the documents to you. Following an intervention it may take some time for the CLC to access archived files and documents, but your request will be actioned with reasonable haste.