My partner and I are looking to buy a property in Wisbech and have instructed a Wisbech conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. TSB have this morning contacted us to advise us that they have now hit a problem as our Wisbech conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the mortgage company. 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 mortgage company 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 bank's conveyancing panel as you are at liberty to use your preferred Wisbech lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
Having spent time scouring moneysavingexpert.com for an online solicitor in Wisbech, many post that I must look for a CQS kitemarked solicitor. What is CQS?
Wisbech Conveyancing Quality Scheme solicitors have been granted accreditation under the Law Society's Scheme (CQS) CQS was created to establish evidence of quality standards in the in the legal transfer of properties. CQS helps buyers and sellers to identify solicitor firms who provide a quality residential conveyancing. Wisbech is one of locations in England and Wales in which accredited firms have offices. The scheme requires practices to undergo a strict assessment, compulsory training, self-reporting, spot checks and yearly assessments in order to maintain CQS status. It is available to solicitors and not licensed conveyancers and has the support of the Building Societies Association.
I am helping my niece sell her property in Wisbech. Will the solicitor arrange an EPC or do I organise this?
After the abolition of Home Information Packs, energy performance certificates was kept a compulsory component of moving house. An EPC should be commissioned prior to the property being marketed. It is not something that law firms ordinarily organise. Where you are instructing a Wisbech conveyancing practitioner they might help arrange EPC’s given their relationships with long established Wisbech energy assessors
I happen to be the sole beneficiary of my late father’s estate with all property in now in my sole name, including the my former home in Wisbech. The Wisbech property was put into my name in December. I plan to dispose of the house. I do know about the Mortgage Lenders 6 month 'rule', which means that my property ownership will be treated the same way as if I'd bought the property in December. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you might be affected by that. many lenders would take a practical view as this provision primarily exists to identify the purchase and immediately sell or the quick reselling of property.
I am due to exchange contracts on my house. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Co-operative are being pedantic. The Wisbech solicitor who is on the Co-operative conveyancing panel is saying indemnity insurance will be fine but Co-operative are insisting on a building regulation certificate. Why do Co-operative have a conveyancing panel if they don't accept advice from them?
It is probably the case that Co-operative have referred the matter to their valuer. The reason why Co-operative 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.
Over the last few months I have been searching for a flat up to £195,000 and identified one close by in Wisbech I like with amenity areas and railway links nearby, the downside is that it only has 51 remaining years left on the lease. I can't really find anything else in Wisbech in this price bracket, so just wondered if I would be making a grave error buying a lease with such few years left?
Should you need a mortgage the shortness of the lease will be problematic. Discount the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer regarding this matter.
I'm converting the mortgage on my primary house to a buy to let mortgage with Leeds Building Society and intend to use the remaining equity towards further property. The location we are looking at is Wisbech. Will your solicitors be able to act for both sets of lenders and tie in the two deals?
Do use our comparison tool on this site to check that the conveyancers are on the appropriate lender panels. On the basis that they are your conveyancer should be able to tie up the two transactions but you should have a chat with you solicitor and communicate your expectations and requirements.
My mum and dad cant seem to find their Wisbech property on the HM Land Registry online search facility. They recall that back in the 60’s when they acquired the house there were complications regarding the post code not being identified on some systems.
The vast majority of residences in Wisbech should appear. Have you endevoured to search to just the postcode. Ordinarily it will identify all the premises inside that postcode. Assuming the property is recorded it will be there with a title number. Where they bought sixty years ago it's conceivable it may be unregistered. The property may still be revealed but with the title number shown 'na'. In this scenario you will need to find the original title papers which might be with your parent’s mortgage company.