My husband and I are hoping to purchase a house in Potton and have instructed a Potton conveyancing firm. 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. Virgin Money have this morning contacted us to inform me that there is now an issue as our Potton solicitor is not on their conveyancing panel. What do we do from here?
If you are buying a property needing a mortgage it is usual 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 Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Potton solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I am purchasing a end of terrace house in Potton. Our aim is to an extension at the rear at the property.Will the conveyancing process involve checks to determine if these works were previously refused?
Your property lawyer will review the registered title as conveyancing in Potton will sometimes identify restrictions in the title deeds which restrict categories of changes or need the permission of another owner. Certain additions require local authority planning consent and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these things with a surveyor ahead of any purchase.
I am expecting a DIP from Virgin Money this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Virgin Money recommend any Potton solicitors on the Virgin Money conveyancing panel, or is it better to go independently?
You will need to appoint Potton solicitors independently although you'll need to choose one on the Virgin Money conveyancing panel. The solicitor represents both you and Virgin Money through the process.
I am selling my house. I had a double glazing fitted in May 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Santander are being difficult. The Potton solicitor who is on the Santander conveyancing panel is saying indemnity insurance will be fine but Santander are insisting on a building regulation certificate. Why do Santander have a conveyancing panel if they don't accept advice from them?
It is probably the case that Santander have referred the matter to their valuer. The reason why Santander 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 have been told that property searches are the number one cause of delay in Potton house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of a review by MoveWithUs that conveyancing searches do not feature within the top 10 causes of delays in the conveyancing process. Searches are not likely to be the root cause of delay in conveyancing in Potton.
Due to the advice of my in-laws I had a survey completed on a property in Potton ahead of instructing conveyancers. I have been advised that there is a flying freehold element to the house. My surveyor advised that some lenders will refuse to grant a loan on this type of home.
It depends who your proposed lender is. HSBC has different requirements for example to Halifax. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Potton. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Potton to see if the conveyancing will be more expensive.
How can the Landlord & Tenant Act 1954 affect my commercial premises in Potton and how can your lawyers assist?
The 1954 Act gives security of tenure to business leaseholders, granting the legal entitlement to make a request to court for a continuation of occupancy at the end of the lease term. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and handle your commercial conveyancing in Potton
My cousin has suggested that I instruct his conveyancers in Potton. Should I choose my own conveyancer?
No doubt the ideal way to find a conveyancing lawyer is to get guidance from friends or family who have actually used the solicitor you're are thinking of instructing.