I am progressing with the sale of my ground floor flat in Nettleham and the EA has just called to warn that the buyers are changing their property lawyer. The reason given is that the lender will only work with property lawyers on their approved list. On what basis would a big named lender only work with specific solicitors rather the firm that they want to choose for their conveyancing in Nettleham ?
Mortgage companies have always had panels of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lenders attribute this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to reveal 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 not going to have any impact on this.
In what way does my ID and proof of funds have anything to do with my conveyancing in Nettleham? Is this really necessary?
It is indeed that case that the requirement set out by your solicitor has nothing to do with conveyancing in Nettleham. However these days you can not complete any conveyancing deal if you have not providing proof of your identity. This usually takes the form of a either your passport or driving licence and a bank statement. Please note that if you are providing your driving licence as proof of ID it must be both the paper section as well as the photo card part, one is not acceptable in the absence of the other.
Proof of the source of money is required in accordance with the Money Laundering Regulations. You should not be offended when when this is requested of you as your conveyancer must retain this information on record. Your Nettleham conveyancing lawyer will require evidence of proof of funds before they are able to accept any monies from you into their client account and they should also ask further queries regarding the source of monies.
A relative advised me that in buying a property in Nettleham there could be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Nettleham which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Nettleham should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I have arranged a further advance on our home loan from Co-operative as we wish to conduct improvements to our property in Nettleham. Are we obliged to appoint a high street Nettleham solicitor on the Co-operative conveyancing panel to deal with the paperwork?
Co-operative do not ordinarily require firms on their conveyancing panel to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Co-operative panel.
I am due to exchange contracts on my house. I had a double glazing fitted in April 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, RBS are being pedantic. The Nettleham solicitor who is on the RBS conveyancing panel is happy to accept ‘lack of building regulation’ insurance but RBS are insisting on a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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.
I used Stirling Law several years ago for my conveyancing in Nettleham. Now, I need the files but the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Nettleham of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
Do I need to be wary that 3rd parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a local Nettleham conveyancing practice?
As is the case with lots of professional services, often suggestions from relatives can be worth their weight in gold. Nevertheless there are many parties with a vested interest in a conveyancing matter; estate agents, financial adviser and lenders may put forward solicitors to appoint. Sometimes the lawyers might be known to one of the organisations as one of the best in their field, but sometimes there may be a financial incentive behind the endorsement. You are free to select your own conveyancer. Don't forget that the majority of mortgage providers specify a panel list of law firms you are obliged to use for the lender aspect of your transaction.
Can you provide any advice for leasehold conveyancing in Nettleham from the perspective of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Nettleham can be avoided if you instruct lawyers as soon as you market your property and request that they start to put together the leasehold documentation which will be required by the buyers’ representatives. If you have the benefit of shareholding in the Management Company, you should ensure that you hold the original share document. Obtaining a replacement share certificate can be a lengthy formality and slows down many a Nettleham home move. If a reissued share certificate is required, do contact the company officers or managing agents (if relevant) for this as soon as possible. If there is a history of conflict with your landlord or managing agents it is very important that these are settled before the property is marketed. The purchasers and their solicitors will be warry about purchasing a flat where there is a current dispute. You may need to swallow your pride and pay any arrears of service charge or settle the dispute prior to the buyers completing the purchase. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the buyers, but it is better to reveal the dispute as over rather than unresolved. If you have carried out any alterations to the residence would they have required Landlord’s consent? In particular have you laid down wooden flooring? Nettleham leases often stipulate that internal structural changes or addition of wooden flooring necessitate a licence from the Landlord consenting to such works. Should you dont have the approvals in place you should not contact the landlord without contacting your solicitor before hand.
Nettleham Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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What prohibitions are there in the Nettleham Lease? The answer will be useful as a) areas could result in problems in the block as the communal areas may start to deteriorate where repairs remain unpaid b) if the leasehold owners have an issue with the managing agents you will wish to know about it Be sure to discover if the the lease contains any unreasonable restrictions in the lease. By way of example it is fairly common in Nettleham leases that pets are not allowed in in a block in Nettleham. If you like the flatin Nettleham however your dog can’t live with you then you will be faced hard decision.