My wife and I are buying a 3 bedroom flat in Sunbury with a mortgage. We have a Sunbury conveyancer, but the lender advise she’s not on their "panel". We have to appoint one of the lender panel firms or keep our Sunbury conveyancing practitioner as well as pay for one of their panel lawyers to represent them. This seems very unfair; are we not able to require that the lender use our Sunbury property lawyer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Sunbury conveyancing lawyer to apply to be on the conveyancing panel.
In what way does my ID and proof of funds have anything to do with my conveyancing in Sunbury? What am I being asked for?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to verify the identification documents of the person or body they are dealing with prior to agreeing to accepting their conveyancing instruction. The Terms and Conditions that you need to sign should confirm this. Your lawyer also has obligations to obtain certain documents in accordance with the UK Finance Lenders Handbook requirements last updated on 1st December 2014. Should you refuse to hand over ID verification documents, your lawyer would not be able to act for you.
Have just purchased a repossessed house at auction in Sunbury. Conveyancing is needed. What is next?
Given that you are now legally committed yourself to purchase you will need to appoint a conveyancing lawyer as a matter of priority as you are faced with a tight a fixed date to complete the conveyancing. Every auction property will have a bespoke legal pack. This will include most,if not all of the paperwork that your lawyer requires. If you have purchased leasehold property the conveyancing pack may provide a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to a leasehold property. You must give this to the conveyancer working for you as soon as possible. Do make sure that you have funds in place to complete the transaction on the set completion date.
We expect to receive a DIP from RBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do RBS recommend any Sunbury solicitors on the RBS conveyancing panel, or is it better to go independently?
You will need to appoint Sunbury solicitors independently although you'll need to choose one on the RBS conveyancing panel. The solicitor represents both you and RBS through the process.
About to purchase apartment in Sunbury. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Sunbury solicitor is on the Kent Reliance conveyancing panel.
Should commercial conveyancing searches reveal impending roadworks that may impact a commercial estate in Sunbury?
Many commercial conveyancing solicitors in Sunbury will carry out a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Sunbury. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Sunbury.
For every commercial conveyancing transaction in Sunbury it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately can cause delays to Sunbury commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not carried out for domestic conveyancing in Sunbury.
I decided to have a survey carried out on a property in Sunbury prior to appointing lawyers. I have been informed that there is a flying freehold aspect to the house. The surveyor advised that some mortgage companies may refuse to grant a loan on such a home.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. Should you wish to call us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Sunbury. Conveyancing will be smoother if you use a solicitor in Sunbury especially if they are familiar with such properties in Sunbury.
I have been recommended by a few selling agents in Sunbury to find a property lawyer on your site. Is there a financial incentive for Estate Agents to market your lawyers rather than another?
We don’t offer any referral fee for sending work in our direction. We found it would be just too difficult to pay a commission as a client could think, ‘How come the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.