I opted for a Wynyard based solicitor for our conveyancing in Wynyard last week. Reviewing the Terms it is apparent thatI am responsible for fees even if the dealfalls through. Should I go with them or select a web based solicitor practice advertising no move no charge conveyancing in Wynyard?
Generally there is a compromise along the lines that if "No Sale No Fee" is available then the conveyancing charges will generally be more expensive to cover those cases that do not proceed. Please beware that these deals tend not to cover expenses such as Wynyard conveyancing search charges.
My solicitor has discovered a a problem with the lease for the property we are purchasing in Wynyard. The other side have offered title insurance as a workaround. We are content with insurance and will cover the costs. Our conveyancing practitioner says that he must ensure that the lender is happy with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. Your solicitor must comply with the UK Finance Lenders’ Handbook provisions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancing practitioner will have no choice but to discontinue acting for you.
The Wynyard conveyancing lawyers that just started acting on my purchase in Wynyard have without warning shut down. They were on acting for me because I had to have a lawyer on the Leeds Building Society conveyancing panel and my previous Wynyard lawyer was not. I sent them a cheque for £250 in advance. What should be my next steps?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the Leeds Building Society conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors should be in a position to help.
Me and my brother have a terraced Georgian house in Wynyard. Conveyancing solicitor represented me and Barclays . I did a free Land Registry search last week and I saw a couple of entries: one for freehold, another for leasehold under the exact same property. If a house is not a freehold shouldn't I have been informed?
You need to review the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Wynyard and other locations in the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also question the situation with the conveyancing lawyer who conducted the work.
I am buying my first flat in Wynyard with a mortgage from The Mortgage Works. The developers refused to reduce the price so I negotiated five thousand pounds worth of extras instead. The estate agent suggested that I not inform my solicitor about the extras as it would put at risk my mortgage with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
I am looking for a conveyancing lawyer in Wynyard for my remortgage. Can I review a firm’s record with the profession’s regulator?
One can search for presented Solicitor Regulator Association (SRA) decisions stemming from investigations commenced on or after 1 January 2008. Go to Check a solicitor's record. For records Pre 2008, or to check a firm's record, ring 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator could recorded call for training purposes.