My partner and I are hoping to buy a house in Polegate and are in fact using a Polegate conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Platform Home Loans Ltd have this afternoon contacted us to inform me that there is now an issue as our Polegate lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the mortgage company. 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 property lawyer 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Polegate lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
I am hoping to move into my new home in Polegate next Friday. I have now been asked to send a copy of my building insurance schedule by my solicitor as as she informs me that she is duty bound to validate that it is in order for the bank. What does the insurance need to cover?
Any lawyer on acting for lenders would need to check that the following risks are covered fire; lightning; aircraft; explosion; earthquake; storm; flood; escape of water or oil; riot; malicious damage; theft or attempted theft; falling trees and branches and aerials; subsidence; heave;landslip;collision;accidental damage to underground services;professional fees, demolition and site clearance costs; and public liability to anyone else. There are some other issues such as the level of excess that are set out in a lender’s Part 2 requirements. These obligations are not unique to conveyancing in Polegate.
My grandmother passed away six months ago and as sole heir and executor I was left the property in Polegate. The house had a small mortgage remaining of approximately £4500. I want to transfer the title deeds into my name whilst I re-mortgage to Nottingham, pay off the mortgage. Is this possible?
If you intend to refinance then Nottingham will require that you use a conveyancer on the Nottingham conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Nottingham conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Nottingham mortgage is registered as a charge at the Land Registry.
What can a local search inform me regarding the property I am purchasing in Polegate?
Polegate conveyancing often starts with the ordering local authority searches directly from your local Authority or via a personal search company such as Xpress Legal The local search plays a central role in many a Polegate conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your new home. The search should provide information on, amongst other things, details on planning applications applicable to the premises (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 thirteen subject headings.
Are there restrictive covenants that are commonly picked up during conveyancing in Polegate?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Polegate. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Is it possible to swap conveyancer as I need to appoint a firm on the Santander conveyancing panel. I had appointed a high street conveyancing solicitor in Polegate round the corner but the firm is not accepted by Santander
We will our best to assist in finding you a conveyancing solicitor in Polegate on the Santander panel. Please note that the conveyancers that we work with do not pay us a referral fee if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Polegate. In making use of the find a conveyancing solicitor tool on this website, you can compare charges for conveyancing solicitors in Polegate and throughout England and Wales.