My partner and I are looking to buy a house in Wrington and are in fact using a Wrington 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. Chelsea Building Society have this morning contacted us to advise us that there is now an issue as our Wrington conveyancer is not on their approved list of lawyers. What do we do from here?
If you are buying a property requiring a mortgage it is standard for the purchasers' lawyers to also represent 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 lender’s conveyancing panel and you may continue to use your own Wrington solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My wife and I purchased a terraced Victorian house in Wrington. Conveyancing practitioner acted for me and HSBC Bank. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, the second leasehold under the matching address. I thought I was buying a freehold how can I check?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wrington and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with lenders. You can also check the position with your conveyancing practitioner who carried out the work.
About to purchase a new build flat in Wrington. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Wrington
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Please provide evidence that the form of Lease proposed has been approved by the Land Registry. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I was advised by a number of estate agents in Wrington to locate a property lawyer on your site. Is there a financial upside for Estate Agents to market your lawyers ahead of alternative conveyancing organisations?
We refuse to give any commission for pointing buyers and sellers in our direction. We thought it would be too underhand a fee because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
As co-executor for the will of my grandfather I am disposing of a residence in Swansea but reside in Wrington. My solicitor (based 260 kilometers awayneeds me to execute a stat dec prior to completion. Can you recommend a conveyancing lawyer in Wrington to attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will do regardless of whether they are located in Wrington
I am about to complete on the purchase a house in Wrington but as a consequence of wreckage from the recent storms I have negotiated compensation from the current proprietors of £3k in the form of a reduction in the price. I had intended this to be addressed as part of the conveyancing process however the mortgage company will not agree to this. Why were they approached?
Your property lawyer listed on a bank conveyancing panel is duty bound to advise the bank of any amendments to the purchase figure. In the event that you prohibit your conveyancing practitioner to disclose the reduction to your bank then they would need to discontinue representing you and the lender.