My fiance and I are planning to acquire a home in Sacriston and have instructed a Sacriston conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Chelsea Building Society have this afternoon contacted us to advise us that there is now an issue as our Sacriston conveyancer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' lawyers 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 lender 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 Sacriston solicitors, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Sacriston?
Two types of professional can execute conveyancing in Sacriston namely licenced conveyancers or solicitors. Both professionals handle the legal services that you need to complete the disposal or acquisition of property. They are both obliged to conduct Sacriston conveyancing on similar standards and guidelines so you may be sure that your conveyancing will be properly carried out and that all requisite steps should be accurately attended to.
We have agreed to purchase a house in Sacriston. One unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Virgin Money be concerned?
As your lender is Virgin Money your lawyer must check the conveyancing instructions set out in Part two of UK Finance Lenders’ Handbook for Virgin Money. The CML Handbook contains minimum provisions for solar panel roof-space leases, and conveyancing practitioners are required to report to Virgin Money where a lease does not satisfy these requirements. The specifications relate to the installation of panels on properties nationwide and is not isolated to Sacriston.
My offer on a semi in Sacriston has been accepted, the owners do however have a connected purchase. The vendors have placed an offer on a property, however it’s not yet tied up, and have viewings of other apartments in the pipeline. I have selected a bricks and mortar conveyancing solicitor in Sacriston. What do I do now? At what stage do I apply for the mortgage with Skipton?
It is normal to have anxieties where there is a chain as you are unlikely to want to be too out of pocket too early (home loan application is approx one thousand pounds, then survey, Sacriston conveyancing search costs, etc). First, you should check that your solicitor is on the Skipton approved list. Concerning the next steps this very much depends on the uniqueness of your transaction, motivation for this property and on the state of the market. In a hot market some buyers would apply for a home loan with Skipton and pay for the valuation and only if it was satisfactory would they pay their property lawyer to proceed with the conveyancing in Sacriston.
It has been 4 months since my purchase conveyancing in Sacriston concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build flat in Sacriston. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Sacriston
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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. There must be mutual enforceability of lessee’s covenants. 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. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company?
Due to the guidance of my in-laws I had a survey completed on a house in Sacriston in advance of instructing solicitors. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some lenders will not give a mortgage on such a property.
It varies from the lender to lender. HSBC has different instructions for example to Halifax. Should you wish to telephone us we can look into this further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Sacriston. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Sacriston to see if the conveyancing will be more expensive.
I have been sourcing a conveyancing solicitor in Sacriston for my home move. Can I review a firm’s record with the legal regulator?
One may read published Solicitor Regulator Association (SRA) decisions resulting from inquisitions from 2008 onwards. Go to Check a solicitor's record. To find information about the period before 1 January 2008, or to check a firm's record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, call +44 (0)121 329 6800. The SRA could monitor telephone calls for training reasons.