I am nearing exchange of contracts for my apartment in Putney Vale and the estate agent has just telephoned to advise that the purchasers are changing their solicitor. I am told that this is due to the fact that the mortgage company will only engage with solicitors on their conveyancing panel. Why would a leading mortgage company only deal with specific solicitors rather the firm that they want to select to handle their conveyancing in Putney Vale ?
Mortgage companies have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any sway in the decision.
My wife and I intend to remortgage our flat in Putney Vale with Skipton. We have a son approaching twenty who lives with us. Our solicitor has asked us to disclose any adults other than ourselves who reside at the property. The solicitor has now sent a form for our son to sign, giving up any rights in the event that the apartment is repossessed. I have a couple of questions (1) Is this document specific to the Skipton conveyancing panel as he never had to sign this form when we purchased 4 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 Skipton. This is solely used to protect Skipton 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 Skipton 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.
Finally the sale completed on my house in Putney Vale last April but my buyer keeps whats apping me to say his solicitor needs to hear from mysolicitor. What are the post completion sale legalities now that I have sold?
Post completion of your disposal your conveyancer should deliver the transfer deeds and all additional paperwork to the buyer’s lawyers. Depending on the transaction, your lawyer should also send confirmation that the mortgage has been redeemed to the buyers conveyancers. There is unlikely to be post completion tasks specific conveyancing in Putney Vale.
My wife and I are buying a house in Putney Vale. It might be a silly question but how we can trust a lawyer? On completion day we will need to deposit our life savings into their account. What protection do we have from them run away with our monies?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Do I choose a Licenced Conveyancer or Solicitor for conveyancing in Putney Vale?
Two types of professional can do conveyancing in Putney Vale namely CLC regulated conveyancers or solicitors. The two can administer the legal services that you need to complete the sale or purchase of property. They are both obliged to perform Putney Vale conveyancing on similar standards and guidelines so you can be sure that your conveyancing will be professionally carried out and that the necessary procedures should be correctly followed.
I am due to exchange contracts on my apartment. I had a double glazing fitted in May 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being difficult. The Putney Vale solicitor who is on the Aldermore conveyancing panel is recommending indemnity insurance as a solution but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore 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 selling our house in Putney Vale and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. A local conveyancer would know that there is no such problem. For the life of me I don't know why the buyers are using an internet conveyancing outfit rather than a conveyancing solicitor in Putney Vale. We have lived in Putney Vale for 4 years we know of no issue. Is it a good idea to contact our local Authority to seek confirmation need.
It sounds as though you may have a conveyancing solicitor already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I'm purchasing a new build house in Putney Vale with a loan from Bank of Scotland. The builders refused to reduce the price so I negotiated £7000 of extras instead. The property agent suggested that I not disclose to my lawyer about this side-deal as it would adversely affect my mortgage with Bank of Scotland. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.