My partner and I are looking to purchase a house in Twyford and are in fact using a Twyford conveyancing firm. Within the last couple of days our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Norwich and Peterborough Building Society have this morning contacted us to inform me that they have now hit a problem as our Twyford solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' lawyers to also represent the purchaser's lender. 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 solicitor should contact your bank 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 as you are at liberty to use your preferred Twyford lawyers, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I am purchasing a house mortgage free in Twyford. I have resided for the last Seventeen years in Twyford. Conveyancing searches are a lot of money. As I have knowledge of the road and vicinity very well must I have all the conveyancing searches?
Provided that you do not need a home loan, then the vast majority of the Twyford conveyancing searches are non-obligatory. Your solicitor will try and steer you, perhaps strongly, that you should have searches done, but she is duty bound to do this. One thing to bear in mind; if you are intend to sell the house at a future date, it may be of interest to your prospective buyer what the searches reveal. Sometimes properties with no practical issues can still show up negative search results. A good conveyancing solicitor in Twyford should provide you some practical guidance concerning this.
I had intended to instruct a conveyancing solicitor in Twyford for our home move. Our financial adviser has since advised us that our mortgage company Bank of Ireland won't deal with them. Surely this is unduly restrictive?
A lender may insist on an approved solicitor act for it. You would be expected to bear the charges for this. Do use our search facility to find a solicitor to conduct conveyancing in Twyford on the Bank of Ireland conveyancing panel.
Will my solicitor be raising enquiries concerning flooding as part of the conveyancing in Twyford.
Flooding is a growing risk for solicitors specialising in conveyancing in Twyford. There are those who buy a property in Twyford, completely aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not qualified to impart advice on flood risk, however there are a various checks that may be carried out by the purchaser or on a buyer’s behalf which can give them a better understanding of the risks in Twyford. The standard completed inquiry forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to determine if the property has suffered from flooding. If the premises has been flooded in past which is not disclosed by the owner, then a buyer could bring a claim for damages as a result of such an incorrect answer. The buyer’s conveyancers may also conduct an environmental search. This will disclose whether there is any known flood risk. If so, additional inquiries will need to be made.
I've recently found out that there is a flying freehold element on a property I have offered on last month in what was supposed to be a simple, chain free conveyancing. Twyford is where the house is located. What do you suggest?
Flying freeholds in Twyford are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Twyford you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Twyford may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
How can the Landlord & Tenant Act 1954 affect my business premises in Twyford and how can your lawyers assist?
The particular law that you refer to gives security of tenure to business tenants, giving them the legal entitlement to make a request to court for a new tenancy and remain in occupation when the lease reaches an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are complicated. We are happy to direct you to commercial conveyancing firms who use the act for protection and handle your commercial conveyancing in Twyford