Please explain the implications if my lawyer’s firm is expelled from the Principality Solicitor panel ahead of completing my conveyancing in Warwick?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
What is the difference between a licensed conveyancer and conveyancing solicitor in Warwick
There are two types of lawyers who can carry out conveyancing in Warwick namely licenced conveyancers or solicitors. The two can handle the legal services that required to complete the sale or acquisition of property. They are both obliged to conduct Warwick conveyancing to the same standards and guidelines so you may be sure that your conveyancing will be properly conducted and that all necessary procedures will be suitably attended to.
Having read lots of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Warwick solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore 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. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Warwick postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Warwick.
Bank of Ireland have agreed my home loan in principle, my bid on a property in Warwick has been accepted, now what?
Your estate agent will need to be informed of your conveyancer's details (ensure that the conveyancers are on the bank’s approved list). Call up Bank of Ireland or the financial adviser and finalise any appropriate paperwork. Bank of Ireland will instruct a valuer who will get in contact with the estate agent or vendor to arrange a time for the valuation to take place. Once carried out (assuming no problems) it takes on average a week to get a mortgage offer. Bank of Ireland will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Warwick.
Will my lawyer be raising enquiries concerning flooding during the conveyancing in Warwick.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in Warwick. There are those who purchase a house in Warwick, fully expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a various checks that may be undertaken by the purchaser or by their solicitors which can give them a better understanding of the risks in Warwick. The standard completed inquiry forms supplied to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to find out if the property has ever been flooded. In the event that the property has been flooded in past which is not disclosed by the owner, then a purchaser may commence a legal claim for losses resulting from an inaccurate response. The buyer’s solicitors will also commission an enviro search. This will reveal if there is any known flood risk. If so, additional inquiries will need to be carried out.
It has been four months since my purchase conveyancing in Warwick completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in Warwick with a mortgage from Leeds Building Society. The builders would not budge the price so I negotiated £7000 of extras instead. The estate agent suggested that I not reveal to my lawyer about this extras as it could impact my loan with Leeds Building Society. Is this normal?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
As co-executor for the estate of my uncle I am selling a residence in Cardiff but I am based in Warwick. My lawyer (based 250 kilometers awayhas requested that I execute a stat dec before completion. Could you suggest a conveyancing solicitor in Warwick to attest this legal document for me?
Technically speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or solicitor will suffice regardless of whether they are located in Warwick