I am nearing exchange of contracts for my ground floor flat in Nantwich and the EA has just text me to say that the purchasers are switching property lawyer. The reason given is that the mortgage company will only deal with property lawyers on their approved list. On what basis would a major lender only deal with certain lawyers rather the firm that they want to select for their conveyancing in Nantwich ?
Banks have always had panels of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lending institutions point to the increase in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
Our son-in-law is buying a newly built flat in Nantwich with a mortgage from Virgin Money. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The form is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Virgin Money conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Virgin Money conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
What is the difference between a licensed conveyancer and conveyancing solicitor in Nantwich
There are many registered licenced Conveyancers in Nantwich and Solicitor practices in Nantwich to choose from It is important to make clear that the two are regulated professionals specialising in the legal work in transferring property. Both can conduct other property legal work such as remortgage conveyancing, enfranchisement and transfer of equity conveyancing.
Forgive me if this question is silly but I am unexperienced as a 1st time buyer of a two bedroom flat in Nantwich. Do I collect the keys to the property on completion from my conveyancer? If this is the case, I will instruct a local conveyancing solicitor in Nantwich?
On the day of completion you do not need to go to the conveyancers office in Nantwich. Your solicitors will arrange to send the completion advance to the owner’s conveyancers, and once they have received this, you will be invited to receive the keys from the selling Agents and move into your new home. Usually this occurs between 1 and 3pm.
We are purchasing a victorian detached house in Nantwich. The intention is to carry out a loft conversion at the property.Will the conveyancing process involve checks to ascertain if these works were previously refused?
Your conveyancer should check the registered title as conveyancing in Nantwich will occasionally identify restrictions in the title deeds which prohibit categories of alterations or need the consent of another owner. Some extensions require local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
What can a local search reveal concerning the house I am purchasing in Nantwich?
Nantwich conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company for example PSG The local search plays a central role in most Nantwich conveyancing purchase; as long as you wish to avoid any unpleasant once you have moved into your property. The search will supply information on, amongst other things, details on planning applications relevant to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject sections.
Over the last few months I have been searching for a leasehold apartment up to £195,000 and found one close by in Nantwich I like with open areas and railway links in the vicinity, the downside is that it only has 51 years on the lease. There is not much else in Nantwich for this price, so just wondered if I would be making a grave error purchasing a lease with such few years left?
Should you need a mortgage the remaining unexpired lease term will likely be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing solicitor concerning this matter.
As co-executor for the will of my grandmother I am selling a property in Newport but reside in Nantwich. My conveyancer (based 200 kilometers from merequires that I sign a stat dec before the transaction finalising. Could you suggest a conveyancing solicitor in Nantwich to witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Nantwich based