My wife and I are hoping to purchase a flat in Wolverhampton and are in fact using a Wolverhampton conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Aldermore have this evening contacted us to advise us that there is now an issue as our Wolverhampton 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 act for the purchaser's lender. 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 property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Wolverhampton solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
We are about to complete buying a house in Wolverhampton but as a consequence of damage from the recent storms I have managed to agree compensation from the seller in the sum of three thousand pounds by way of a reduction in the price. I had intended this to be addressed as part of a side agreement however UBS will not permit this. Should they have been informed?
Any property lawyer that is on the UBS approved list is duty bound to inform UBS of any amendments to the purchase price. If you prohibit your lawyer to report the price change to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancing practitioner for your conveyancing in Wolverhampton.
How do I discover of the solicitor carrying out my conveyancing in Wolverhampton is on the mortgage lender’sapproved panel? I am looking to avoid the situation of having one lawyer for me and one for HSBC Bank thus spending £175.00 in another set of legal fees.
Feel free to take advantage of the search tool on this web page. Please choose the lender and type ‘Wolverhampton’ or your location and you will be presented with a number of lawyer offices in Wolverhampton or nearest you.
Forgive me if this question is silly but I am wet behind the ears as FTB of a two bedroom flat in Wolverhampton. Do I pick up the keys to the property on completion from my lawyer? If this is the case, I will find a High Street conveyancing solicitor in Wolverhampton?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will arrange to send the purchase money to the seller's conveyancers, and once they have received this, you will be called to pick up the keys from the property Agents and move into your new home. Usually this occurs between 1 and 3pm.
My wife and I are in the throws of viewing apartments in Wolverhampton and I am about to put in an offer. Should I already have a property lawyer appointed at this stage? I am planning to take a home loan with Coventry BS.
You should start requesting conveyancing quotes from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are seeking a mortgage with Coventry BS, make sure you remember to check that your lawyer is on the Coventry BS conveyancing panel.
I am selling my apartment. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Nottingham are being a right pain. The Wolverhampton solicitor who is on the Nottingham conveyancing panel is saying indemnity insurance will be fine but Nottingham are insisting on a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham 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.
I am buying a new build flat in Wolverhampton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Wolverhampton
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The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Why can't I complete our conveyancing in Wolverhampton on May bank holiday?
This is due to the fact that on completion the sale price will be transferred electronically between the banks of the buyer and seller's solicitor and at present this can only take place on a working day. It is not possible to complete on a weekend either.