I am in the process of selling my ground floor flat in Whiteley and the estate agent has just telephoned to advise that the purchasers are changing their law firm. The reason given is that the bank will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Whiteley ?
Banks have always had panels of law firms they are content to work with, but in recent years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Banks point to the increase in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
We have rather brash sellers who has insisted on a exclusivity contract with a down payment of 5k. Are such arrangements appropriate for Whiteley conveyancing transactions?
Lock out contracts are agreements binding a property vendor and prospective buyer granting the buyer a ‘clear field’ to the sale of the property for a limited period of time. Essentially, an exclusivity is a document stating that you should have a contract at a later time being the contract for the actual sale. It is generally utilised for buyer confidence though in many situations, the owner may enjoy an upside from such agreements as well. There are various positives and negatives to using an agreement but you need to check with your solicitor but note that it may end up incurring extra in conveyancing charges. In light of this these contracts are avoided when it comes to conveyancing in Whiteley.
I have todaybecome aware that Wolstenholmes have closed. They conducted my conveyancing in Whiteley for a purchase of a leasehold flat 10 months ago. How can I establish that the property is registered correctly in the name of the previous owner?
The quickest way to see if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Whiteley conveyancing specialists.
I am buying my first flat in Whiteley with the aid of help to buy. The builders would not move on the price so I negotiated 6k of additionals instead. The property agent told me not reveal to my solicitor about the deal as it will adversely affect my mortgage with Virgin Money. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Whiteley is where the house is located. Can you shed any light on this issue?
Flying freeholds in Whiteley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Whiteley you would need to get your solicitor to go 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 Whiteley 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.
As co-executor for the will of my father I am selling a residence in Swansea but live in Whiteley. My solicitor (who is 260 kilometers from meneeds me to sign a statutory declaration before the transaction finalising. Could you suggest a conveyancing practitioner in Whiteley who can witness this legal document for me?
strictly speaking you are not likely to be required to have the documents attested by a conveyancing solicitor. Normally any notary public or qualified solicitor will suffice regardless of whether they are based in Whiteley