We are due to exchange on the purchase of a property in Rothley but as a result of wreckage from some water damage at the property I have managed to agree compensation from the owner of £3k taking the form of a reduction in the price. This was going to be dealt with as part of amending the contract however Nationwide will not agree to this. Should they have been notified?
The conveyancer that is on a Nationwide conveyancing panel is obliged to disclose to Nationwide of any amendments to the sale price. If you were to refuse your solicitor to report the price change to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancing practitioner for your conveyancing in Rothley.
Completed the sale of my flat in Rothley last August but my buyer keeps texting me to say her lawyer is waiting to hear from mine. What are the post completion sale legalities following completion?
Following your sale your lawyer should forward the transfer documentation and all supplemental paperwork to the purchaser's solicitors. Where relevant, your solicitor must also confirm that the home loan has been repaid to the purchasers lawyers. There is unlikely to be post completion procedures specific conveyancing in Rothley.
I had intended to instruct a conveyancing solicitor in Rothley for our house move. Our financial adviser has since advised us that our mortgage lenders HSBC Bank won't deal with them. Surely this is unfair competition?
Lenders ordinarily restrict either the category or the number of conveyancing solicitors on their panel. Typical examples of such criteria being that a law practice must have two or more partners. As well as restricting the profile of firm, a few banks have limited the amount of firms they allow to act for them. You should note that HSBC Bank have no responsibility for the quality of advice provided by any member of HSBC Bank Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of conveyancing panels a few years ago even though there are differing opinions regarding the extent of solicitor involvement in some of that fraud. Figures from the Land Registry reveal that hundreds of law firms, including some in or near Rothley only conduct a couple conveyances per annum.
My wife and I purchasing a 4 bedroom semi-detached house in Rothley. Our aim is to carry out an extension to the side at the house.Will the conveyancing process involve investigations to see if these alterations are prohibited?
Your conveyancer should check the registered title as conveyancing in Rothley will sometimes reveal restrictions in the title documents which prevent categories of works or need the consent of another owner. Many additions call for local authority planning consent and approval in accordance building regulations. Some locations are designated conservation areas and special planning restrictions apply which frequently prevent or affect extensions. You should check these issues with a surveyor prior to committing yourself to a purchase.
My lawyer has informed me that flying freehold insurance is needed on my purchase. What is the level of cover for Rothley conveyancing?
The right level of flying freehold indemnity insurance depends on your lender. It would differ for example between Birmingham Midshires and Skipton Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
I have decided to exercise my right to buy my property in Rothley off the council. I have a mortgage offer with Nottingham. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Nottingham, you will need to appoint a solicitor on the Nottingham conveyancing panel.
I have been told that property searches are a common cause of hinderance in Rothley conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) published determinations of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of hindrances in the conveyancing process. Searches are not likely to be the root cause of slowing down conveyancing in Rothley.
I have been pointed in your direction by three or four local property agents in Rothley to choose a property lawyer using your seach tool. Is there a financial inducement for Estate Agents to market your services over another?
We refuse to make any commission for sending work in our direction. We found it would be just too difficult to pay a commission as home movers will think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.