Much to our surprise we have been informed by our estate agent that my Thame property lawyer is not on the bank Solicitor panel. What can I do to be certain whether this is indeed the case?
Your first step should be to call your Thame lawyer directly. You lawyer should inform you of the situation. If they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
Why do I have to pay up front for my conveyancing in Thame?
Where you are retaining lawyers for conveyancing in Thame your lawyer will ask you place them with monies to cover the the cost of the conveyancing searches. Generally this is needed to cover the fees of the conveyancing searches. If any down payment is as part of the total price then this will be required immediately in advance of exchange of contracts. The closing balance that is needed should be transferred shortly before completion.
Is it correct that all Thame CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing panel?
A selection of banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
I am due to exchange contracts on my flat. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Co-operative are being difficult. The Thame solicitor who is on the Co-operative conveyancing panel is recommending indemnity insurance as a solution but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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 Thame lawyer having made sure that they are on the Yorkshire BS conveyancing panel. Does my lawyer arrange the survey of the property?
Yorkshire BS will need an independent valuation of the property. Your lawyer will not arrange this. Usually Yorkshire BS 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 Thame 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.
Should our conveyancer be making enquiries regarding flooding as part of the conveyancing in Thame.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Thame. Plenty of people will acquire a house in Thame, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that can be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Thame. The conventional set of information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard question of the seller to find out if the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the vendor, then a buyer may issue a claim for damages as a result of such an misleading response. A purchaser’s lawyers should also order an environmental search. This should higlight whether there is a recorded flood risk. If so, more detailed investigations will need to be carried out.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Thame. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Thame
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please confirm the Lease plans are surveyor prepared. 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. 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.
I am using a search engine for the phrase cheap conveyancing in Thame it brings up many solicitorsin the area. With so much choice what is the best way to find the right conveyancer for purchase transaction?
The ideal way of finding the right conveyancer is through a trusted referral, so ask colleagues and family who have bought a property in Thame or a local estate agent or mortgage broker. Costs for conveyancing in Thame vary, so it's advisable to obtain a minimum of three quotes from varying types of law firms. Dont forget to clarify that the charges are guaranteed not to to be inflated.