I can't travel far from Westgate on Sea. Is there a reason why all Westgate on Sea lawyers aren't included on all mortgage company panels?
Before the recession most lenders had an attitude to risk which differs from the current day. The FSA in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the property lawyers on your panel. As a result, banks have since looked to extract more information from law firms concerning their operations and the staff who work for them and set certain criteria such as completing a minimum volume of transactions. Thousands of firms have been removed from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the minimum amount of transactions the lenders set.
I purchased a freehold property in Westgate on Sea but still charged rent, why is this and what is this?
It is rare for properties in Westgate on Sea and has limited impact for conveyancing in Westgate on Sea but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges have existed for many centuries, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Previous rentcharges can now be extinguished by making a lump sum payment under the Act. Any rentcharges that are still in existence post 2037 is to be extinguished.
Is it the case that all Westgate on Sea solicitor practices on the Clydesdale conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Clydesdale approved list of solicitors they would need to be regulated by the Solicitors Regulatory Authority. Some mortgage companies do allow licenced conveyancers on their panel and in that case the practice would be overseen by the Council of Licensed Conveyancers.
My partner and I have arranged the release of further monies on our home loan from Barclays as we want to carry out renovations to our property in Westgate on Sea. Do we need to select a local Westgate on Sea solicitor on the Barclays conveyancing panel to handle the legals?
Barclays don't usually require a member of their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Barclays list.
I was told four weeks ago that my mortgage has been agreed to by HSBC. Is it usual for HSBC to only issue the offer once my solicitor in Westgate on Sea is approved on their conveyancing panel? HSBC have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for HSBC to deal with your lawyer's application to be on the HSBC conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will commercial conveyancing searches disclose planned roadworks that may affect a commercial land in Westgate on Sea?
Its becoming the norm that commercial conveyancing solicitors in Westgate on Sea will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in sourcing accurate data on highways that impact buildings and development assets in Westgate on Sea. The search result provides 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 Westgate on Sea.
For each commercial conveyancing transaction in Westgate on Sea it is crucial 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 Westgate on Sea commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Westgate on Sea.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what was supposed to be a straight forward, no chain conveyancing. Westgate on Sea is where the house is located. Can you offer any assistance?
Flying freeholds in Westgate on Sea 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 Westgate on Sea you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Westgate on Sea may determine 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 property.
I am 17 days into a residential purchase having been directed to conveyancers by the estate agent to handle our conveyancing in Westgate on Sea. We are not happy. Could you help me find new lawyers?
They would need to be very bad to suggest replacing them. Has your loan offer been sent? In the event that it has you must advise them of the new contact details and have the loan are re-sent. Your solicitor ideally should be on the banks approved list to avoid escalating costs and delays. So that should be your starting point. Our find a solicitor tool should assist you in finding a bank approved conveyancer for your conveyancing in Westgate on Sea