I am selling my house in Queenborough and the EA has just called to say that the purchasers are changing their property lawyer. The excuse is that the lender will only work with solicitors on their conveyancing panel. On what basis would a major lender only engage with certain lawyers rather the firm that they want to choose to handle their conveyancing in Queenborough ?
Mortgage companies have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. 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. Some 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 purchasers are unlikely to have any sway in the decision.
I am hoping to move into my new home in Queenborough next Tuesday. My conveyancing practitioner now wants me to supply her with proof of content and building insurance for the property as as she informs me that she is duty bound to validate that it is in order for the bank. What risks does the lender expect the insurance to cover?
All property lawyers 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 UK Finance Lenders’ Handbook instructions. These requirements are not limited to conveyancing in Queenborough.
This question may be naive but I am wet behind the ears as FTB of a garden flat in Queenborough. Do I pick up the keys to the premises on the completion date from my lawyer? If this is the case, I will appoint a High Street conveyancing solicitor in Queenborough?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will electronically transfer the purchase money to the owner’s lawyers, and once they have received this, you should be invited to receive the keys from the Estate Agents and start moving into the property. Usually this happens early afternoon.
We are getting the release of further funds on our mortgage from Kent Reliance as we intend to carry out renovations to our house in Queenborough. Are we obliged to appoint a bricks and mortar Queenborough solicitor on the Kent Reliance conveyancing panel to handle the legals?
Kent Reliance do not ordinarily instruct a member of their conveyancing panel to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Kent Reliance conveyancing panel.
I am due to exchange contracts on my flat. I had a double glazing fitted in January 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Principality are being a right pain. The Queenborough solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are requiring a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality 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.
My wife and I are close to exchanging contracts on the sale of our house in Queenborough and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. Any high street Queenborough lawyer would know that there is no such problem. It does beg the question why the purchasers are using a nationwide conveyancing practice as opposed to a conveyancing solicitor in Queenborough. Having lived in Queenborough for six years we know that this is a non issue. Should we contact our local Authority to get clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. Are they able to advise? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
The estate agent has sent us the confirmation of our purchase of a new build flat in Queenborough. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Queenborough
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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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Hoping to buy a property located in Queenborough and I am already nervous. I couldn't find anything specific about Queenborough. Conveyancing will be needed in due course but do you know about the Queenborough area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Queenborough. In the meantime here are some basic statistics that we found