Unfortunately I am unable to travel far from Salford. I would like to know the logic why all Salford solicitors are not on all bank panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The dismissal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies culling a number of firms off their official list of approved solicitors .
What does my ID and proof of funds have anything to do with my conveyancing in Salford? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the potential client they are dealing with prior to agreeing to accepting their conveyancing business. The Terms and Conditions that you are required to sign will no doubt stipulate this. Your lawyer also has obligations to obtain certain documents in accordance with the CML Lenders Handbook requirements last updated on 1st December 2014. Where you are unwilling to supply identification documents, your conveyancer can not take you on as a client.
I recently had an offer accepted on an apartment in Salford. My mortgage broker pressured me to appoint their conveyancing practitioner. I paid an on account payment of £175. Not long after, the conveyancer contacted me sheepishly admitting that they were not on the Bank of Ireland conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Bank of Ireland panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my house. I had a double glazing fitted in May 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being a right pain. The Salford solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
After shopping around on the internet I have found a Salford conveyancer having checked that they are on the Nottingham conveyancing panel. Does my lawyer arrange the survey of the property?
Nottingham will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nottingham will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Salford surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am purchasing a house and the conveyancer has identified Chancel Repair to which the property could be liable as it falls into the area of such a church. She has recommended insurance. Is this really necessary for conveyancing in Salford
Unless a prior purchase of the house took place after 12 October 2013 you can assume that solicitors handling conveyancing in Salford to continue to recommend a chancel search and or chancel repair liability policy.
In what way does the Landlord & Tenant Act 1954 affect my commercial offices in Salford and how can your lawyers assist?
The 1954 Act provides security of tenure to business lessees, giving them the legal entitlement to apply to court for a renewal lease and continue in occupation when the lease reaches an end. There are limited grounds that a landlord can refrain from granting a lease renewal and the rules are complicated. Fees are different for commercial conveyancing. Salford is one of our many areas of the UK in which the firms we work with have offices
What are your top tips when it comes to finding a Salford conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for lease extension works (regardless if they are a Salford conveyancing firm) it is imperative that he or she should be familiar with the legislation and specialises in this area of work. We advise that you speak with several firms including non Salford conveyancing practices prior to instructing a firm. If the firm is ALEP accredited then that’s a bonus. The following questions might be of use:
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What are the legal fees for lease extension conveyancing? If the firm is not ALEP accredited then what is the reason?
Leasehold Conveyancing in Salford - A selection of Queries before buying
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You should be aware if it is no more than 80 years it will affect the value of the property. Check with your mortgage company that they are content with the length of the lease. Leases with fewer than 80 years remaining means that you will most likely need a lease extension sooner rather than later and it is worth finding out how much this will be. For most Salfordlease extensions you will need to own the residence for a couple of years before you are eligible to extend the lease. On the whole the cost for major works tend not to be wrapped into the maintenance charges, albeit that some managing agents in Salford obliged tenants to contribute towards a reserve fund created for the specific intention of building a fund for larger repairs or maintenance. It is important to be aware if redecorating or some other significant cost is coming up that will be shared amongst the leasehold owners and will dramatically increase the the maintenance costs or result in a one off invoice.