Is the fact that my solicitor in Walton is not on my lender's solicitor panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Walton conveyancing practice and ask them why they are no longer on the approved list for your bank.
Our conveyancer has discovered a a legal deficiency with the lease for the apartment we are buying in Walton. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our solicitor has advised that he must be satisfied that the mortgage company is content with this solution. Who is the client here, us or the bank?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are all Walton Conveyancing Quality Solicitors on the RBS conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. 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 remain on their approved list of conveyancing solicitors.
Two weeks ago we had a mortgage agreed in principle with Virgin Money. Walton conveyancing practitioners were appointed. What is the average time that one could expect to receive a mortgage offer from Virgin Money?
Some lenders take longer than others. Have Virgin Money conducted the survey? Have you informed Virgin Money as to your lawyers' details and checked that your lawyers are on the Virgin Money conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I am selling my flat. I had a double glazing fitted in March 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Clydesdale are being problematic. The Walton solicitor who is on the Clydesdale conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale 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.
What does a local search inform me regarding the house I am purchasing in Walton?
Walton conveyancing often commences with the submitting local authority searches directly from your local Authority or via a personal search company for instance Searches UK The local search plays a central role in most Walton conveyancing purchase; as long as you don’t want any unpleasant once you have moved into your property. The search should supply information on, amongst other things, details on planning applications applicable to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen subject headings.
My company is intending to lease a unit on the high street. Can you recommend conveyancers offering fixed costs for non-domestic conveyancing in Walton for under 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Walton, including the disposal and purchase of businesses as well as simply premises. If you are intending to purchase or sell a shop, pub, restaurant, office, retail premises or a complete business we will put you in touch with the right firm. Regarding the fees this will depend on the structure and complexity of the deal. Let us have your details or telephone us so that we may supply you with a detailed commercial conveyancing quote.
Planning to exchange soon on a garden flat in Walton. Conveyancing lawyers have said that they are sending me a report tomorrow. What should I be looking out for?
Your report on title for your leasehold conveyancing in Walton should include some of the following:
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An explanation concerning the obligations in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a lessee enjoys Your lawyers should enable you to have an understanding of the insurance provisions The landlord’s rights to access the property. You should be made aware that your landlord has rights of access as well as be informed how much notice must be provided. Whether the lease restricts you from subletting the flat, or working from home What options are open to you if an adjoining owner breaches a clause of their lease?
Despite our best efforts, we have been unsuccessful in trying to purchase the freehold in Walton. Can this matter be resolved via the Leasehold Valuation Tribunal?
Where there is a absentee landlord or where there is dispute about what the lease extension should cost, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the Leasehold Valuation Tribunal to calculate the sum to be paid.
An example of a Lease Extension matter before the tribunal for a Walton property is 147 Redford Close in June 2012. The Tribunal determined the lease extension premium to be at £4,200 This case was in relation to 1 flat. The unexpired residue of the current lease was 82.93 years.