Unfortunately I am unable to travel far from Castle Bromwich. Please clarify why all Castle Bromwich conveyancers aren't automatically on all mortgage company panels?
Mortgage Companies ordinarily impose restrictions on either the type or volume of conveyancing firms on their panel. A common example of such restriction(s) being that a practice must have at least two partners. In addition to restricting the nature of firm, some banks decided to restrict the size of their panel they use to act for them. You should note that building societies have no responsibility for the accuracy of advice given by any Castle Bromwich conveyancing practitioner on their panel. Mortgage fraud was the primary trigger for the rationalisation of conveyancing panels from 2008 notwithstanding that there are differing points of view about the extent of solicitor involvement in some of that fraud. Statistics published by HM Land Registry reveal that thousands of law practices only carry out one or two conveyances annually. Those advocating conveyancing panel pruning ask why law firms deserve the right to be listed on a lender panel when clearly property law is not their primary expertise?
I have paid off my mortgage with TSB. I assume I don't need a Castle Bromwich conveyancing practitioner on the TSB panel to discharge the mortgage at the Land Registry. Please confirm.
If you have finished paying off your TSB mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the TSB mortgage from the register. TSB, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where TSB has sent the Land Registry the discharge electronically, and
- TSB has instructed the Land Registry to do so
I am selling my house. I had a double glazing fitted in December 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being problematic. The Castle Bromwich solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are insisting on a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland 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.
TSB have agreed my mortgage in principle, my bid on a property in Castle Bromwich has been agreed to, what happens next?
The property agent will wish to be advised as to your conveyancing practitioner's details (ensure that the conveyancers are on the bank’s panel). Call up TSB or your broker and complete any outstanding paperwork. TSB will appoint a valuer who will get in touch with the selling agent or seller to schedule a time for the valuation to take place. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. TSB will send the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Castle Bromwich.
Will my lawyer be raising questions concerning flooding as part of the conveyancing in Castle Bromwich.
Flooding is a growing risk for lawyers dealing with homes in Castle Bromwich. Plenty of people will buy a house in Castle Bromwich, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a number of checks that can be initiated by the buyer or on a buyer’s behalf which can figure out the risks in Castle Bromwich. The standard completed inquiry forms given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual inquiry of the seller to find out if the property has historically flooded. If the property has been flooded in past which is not revealed by the vendor, then a purchaser may issue a legal claim for losses stemming from an misleading response. The buyer’s conveyancers may also commission an environmental report. This will higlight if there is any known flood risk. If so, more detailed investigations should be made.
I've recently found out that there is a flying freehold element on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Castle Bromwich is the location of the property. Can you offer any guidance?
Flying freeholds in Castle Bromwich are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Castle Bromwich you would need to get your solicitor to go through the deeds diligently. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Castle Bromwich may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
I'm remortgaging my existing property to a BTL mortgage with Nationwide Building Society and I will use the ballance of the raised equity as a deposit on a second house. The neighborhood we are looking at is Castle Bromwich. Will your lawyers be able to act for the two lenders and tie in the two deals?
Do use our comparison tool on this site to check that the lawyers are on the appropriate lender panels. Having checked that they are your lawyer will be able to simultaneously deal with the two transactions but you should talk with you conveyancer and communicate your desired outcome and needs.
I wish to rent out my leasehold flat in Castle Bromwich. Conveyancing solicitor who did the purchase is retired - so can't ask him. Do I need to ask my freeholder for permission?
A small minority of properties in Castle Bromwich do contain a provision to say that subletting is only allowed with permission. The landlord is not entitled to unreasonably withhold but, in such cases, they would need to see references. Experience suggests that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting permission.
Castle Bromwich Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
Can you inform me if there are any major works in the near future that will increase the service charges? The majority of Castle Bromwich leasehold apartments will have a service charge for maintenance of the block set on behalf of the management company. Should you purchase the property you will have to pay this liability, usually quarterly during the year. This can vary from two or three hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent for you to pay annual, ordinarily this is not a significant figure, say about £25-£75 but you should to check as occasionally it can be prohibitively expensive. Be sure to find out if there is anything that is prohibited in the lease. By way of example it is very common in Castle Bromwich leases that pets are not permitted in in a block in Castle Bromwich. If you like the apartmentin Castle Bromwich but your dog is not allowed to live with you then you have a very hard determination.