I am not well enough to travel far from Radcliffe. Please explain the reason why all Radcliffe solicitors aren't automatically on all lender panels?
Lenders tend to impose restrictions on either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that the practice must have at least two partners. As well as restricting the structure of firm, some have decided to restrict the size of their panel they use to act for them. It is worth noting that building societies have no liability for the accuracy of advice given by any Radcliffe lawyer on their approved list. Increases in mortgage fraud was the key driver in the reduction of conveyancing panels from 2008 notwithstanding that there are opposing assessments concerning the extent of solicitor involvement in some of that fraud. Data from HMLR exposes that thousands of conveyancing organisations only conduct one or two conveyances a year. Those advocating conveyancing panel culls ask why conveyancing firms deserve claim to be listed on a lender panel when clearly property law is not their speciality?
Our lawyer has uncovered a defect with the lease for the flat we are purchasing in Radcliffe. The seller’s lawyers have put forward title insurance as a solution. We are happy with insurance and will cover the costs. Our solicitor says that he must ensure that the bank is happy with this solution. Are we the client or is the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the lender are the client. Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
Have just purchased a probate house at auction in Radcliffe. Conveyancing is needed. What is next?
Given that you are now legally bound yourself to purchase you should retain a conveyancing solicitor quickly as you now have a tight a drop dead date to complete the transaction. An auction property should have a bespoke auction pack. This will include most,if not all of the documents that your conveyancer will need. Where you are dealing with leasehold property the auction papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation pertinent to leasehold premises. You need to hand this to the solicitor instructed by you as soon as possible. You also need to ensure that that you have the requisite funding in order to complete the transaction on the set completion date.
Please help - my lawyer advises that chancel insurance is necessary on my purchase. What is the level of cover for Radcliffe conveyancing?
The appropriate level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between HSBC Bank and Bank of Scotland. Conveyancing practitioners as opposed to members of the public take out such policies.
How can we tell if a Radcliffe conveyancing solicitor on the RBS panel is any good?
When it comes to conveyancing in Radcliffe seeking recommendations is a sensible start. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always advocate that you speak with the lawyer conducting your transaction.
I used Wolstenholmes several years past for my conveyancing in Radcliffe. I now require my papers but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing 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 Radcliffe of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Radcliffe differ for newly converted properties?
Most buyers of new build premises in Radcliffe approach us having been asked by the developer to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because new home sellers in Radcliffe typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Radcliffe or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Radcliffe prior to appointing lawyers. I have been advised that there is a flying freehold element to the house. Our surveyor advised that some lenders may not give a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you e-mail us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Radcliffe. Conveyancing may be slightly more expensive based on your lender's requirements.