My wife and I are hoping to acquire a house in Mundesley and have appointed a Mundesley conveyancing practice. Within the last couple of days our property 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 they have now hit a problem as our Mundesley conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the purchaser's lender. 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 bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Mundesley lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
The Mundesley conveyancing firm handling our Mundesley conveyancing has discovered an inconsistency between the assumptions in the valuation report and what is revealed within the conveyancing documents. My lawyer has advised that he is obliged to ensure that the lender is happy with this discrepancy and is still content to lend. Is my solicitor’s approach legitimate?
Your lawyer must comply with the UK Finance Lenders’ Handbook provisions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for both parties.
We are looking to buy a flat and need a conveyancing solicitor in Mundesley who is on the Lloyds solicitor panel. Can you recommend a local conveyancing firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Lloyds . We don't recommend any particular firms conducting conveyancing in Mundesley.
I am buying a new build apartment in Mundesley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Mundesley
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants.
Do I need to be suspicious about brokers that I am dealing with are recommending a factory type conveyancing firm rather than a local Mundesley conveyancing company?
As is the case with lots of service providers, often suggestions from relatives can be very helpful. But there are lots of players in a conveyancing matter; estate agents, financial adviser and banks might all suggest lawyers to instruct. On occasion the conveyancers might be known to one of the organisations as being good in their field, but occasionally there might be a commercial relationship behind the recommendation. You have the discretion to select your preferred conveyancer. You need to be aware that the majority of mortgage providers specify a panel list of law firms you have to use for the mortgage related work in your transaction.
The property lawyers conducting our conveyancing in Mundesley has sent papers to review that indicate that the land is unregistered with epitome documents. Is it not the case that all properties in Mundesley should be registered?
Whilst the vast majorities of properties in Mundesley are now registered with HM Land Registry there are still a few that are unregistered. Any property in Mundesley that has been purchased since the late 1980’s will have been registered at the Land Registry under the compulsory ‘first registration’ scheme. However, if a Mundesley property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Many Mundesley conveyancing practitioners should be capable of dealing with this type of conveyancing but where uncertainty reigns the usual recommendation nowadays seems to be for the current owners to undertake the registration formalities first and then deal with the disposal - this this chain of events will cause a significant delay.