Is it correct that all Marlborough CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing list of approved firms?
It is true that some banks and building societies now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their panels.
Last month we had a mortgage agreed in principle with Bank of Ireland. Marlborough conveyancing solicitors have been selected. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland completed the survey? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am due to exchange contracts on my flat. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, TSB are being a right pain. The Marlborough solicitor who is on the TSB conveyancing panel is happy to accept ‘lack of building regulation’ insurance but TSB are insisting on a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB 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.
How does conveyancing in Marlborough differ for newly converted properties?
Most buyers of new build premises in Marlborough contact us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Marlborough typically buy the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Marlborough or who has acted in the same development.
Due to the advice of my in-laws I had a survey completed on a house in Marlborough in advance of instructing conveyancers. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks will refuse to issue a mortgage on such a property.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Marlborough. Conveyancing will be smoother if you use a solicitor in Marlborough especially if they regularly deal with such properties in Marlborough.
What does commercial conveyancing in Marlborough cover?
Marlborough conveyancing for business premises incorporates a wide array of services, offered by regulated solicitors, relating to business property. For instance, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing business tenancies or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
Having had my offer accepted I require leasehold conveyancing in Marlborough. Before I get started I want to be sure as to the number of years remaining on the lease.
If the lease is recorded at the land registry - and almost all are in Marlborough - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Marlborough Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
-
How is the lease structured? It would be a good idea to find out if there is anything that is prohibited in the lease. For example it is very common in Marlborough leases that pets are not permitted in certain buildings in Marlborough. If you love the propertyin Marlborough but your cat can’t live with you then you will be presented with a hard determination. How much is the service charge and ground rent on the property?
My wife and I are disposing of a Marlborough property we inherited some years ago in 2010. I have over twenty years conveyancing knowledge and, although retired, see no reason not to do the conveyancing. The purchaser's solicitor has informed me that their Lenders will not allow you to do your own conveyancing requiring the funds to be transferred to a solicitor's bank account.
Lending requirements to conveyancers from all mainstream lenders specify that If the seller does not have legal representation the borrower's lawyers should check whether the bank needs to be notified so that a decision can be made as to whether or not they are willing to proceed.