I am not in a position to travel far from Wolvey. What is the rationale as to why all Wolvey conveyancing practitioners are not on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud annually.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for mortgage companies to review their conveyancing panels, which triggered a major policy change in the sector. It resulted in banks and building societies pruning a number of firms off their panel of approved property lawyers .
My fiance and I changing mortgage lender for our maisonette in Wolvey with Santander. We have a son 18 who lives with us. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who reside at the property. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the flat is forfeited by the lender. I have two questions (1) Is this form unique to the Santander conveyancing panel as he did not need to sign this form when we remortgaged 5 years ago (2) Does our son by signing this extinguish his rights to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Santander. This is solely used to protect Santander if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Santander had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
When does exchange of contracts occur in purchase conveyancing in Wolvey and do I need to be at the conveyancers branch?
If you are round the corner to one of the conveyancing solicitors in Wolvey you are welcome to come in to sign documents. However, the firms we work with offer a national conveyancing service and give just as comprehensive and professional a job for you when communicating with you electronically. The signing of the contract is not when everything is set in stone. Signing on the dotted line simply enables the conveyancer to address the formalities when the time is right, which will usually be very shortly after signing. The exchange process is is usually a five minute process, although where an extended "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Wolvey)to be in the office available at the end of the phone to exchange contracts.
A relative advised me that in purchasing a property in Wolvey there could be a number of restrictions as to what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Wolvey which have some sort of restriction or requirement of consent to external variations. Part of the conveyancing in Wolvey should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
We were going to get a AIP from Nottingham this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Nottingham recommend any Wolvey solicitors on the Nottingham conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Wolvey solicitors independently although you'll need to choose one on the Nottingham conveyancing panel. The solicitor represents both you and Nottingham through the process.
I recently had an offer agreed on a house in Wolvey. My financial adviser suggested a property lawyer. I paid an on account payment of £200. A few days later, the solicitor contacted me to say that they were not on the Barclays conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Barclays panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
How does conveyancing in Wolvey differ for new build properties?
Most buyers of new build premises in Wolvey contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is ready to move into. This is because builders in Wolvey tend to acquire the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Wolvey or who has acted in the same development.
What tools are available to identify a Wolvey solicitor on the TSB conveyancing panel? I have a car and am willing to travel upto 25miles to meet the lawyer.
Feel free to make use of the facility on this page. Please select a mortgage company and your location and you will see a number of Wolvey conveyancing lawyers located nearest you. We have listed some Wolvey conveyancing firms towards the end of this page and you can contact them to see if they are on the TSB approved list