I was told yesterday by my broker that my Cowley the law firm I have appointed is not on the mortgage company Solicitor panel. How can I be certain that this is indeed the case?
You need to contact your Cowley lawyer directly. It is reasonable to expect your lawyer to inform you what has happened. Where they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your bank.
My conveyancer has informed me that missing deeds insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Cowley?
The appropriate level of missing deeds indemnity insurance should be dictated by who who your lender is. It would differ for example between Santander and Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such policies.
Two weeks ago we had a mortgage agreed in principle with Aldermore. Cowley conveyancing lawyers are instructed. What is the average time that one could expect to receive a mortgage offer from Aldermore?
Some lenders take longer than others. Have Aldermore conducted the valuation? Have you informed Aldermore as to your lawyers' details and checked that your lawyers are on the Aldermore conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am selling my flat. I had a double glazing fitted in March 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Leeds Building Society are being pedantic. The Cowley solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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 have been told that property searches are the number one cause of delay in Cowley conveyancing transactions. Is this right?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure within the common causes of hindrances in the conveyancing process. Local searches are unlikely to be the root cause of holding up conveyancing in Cowley.
How does conveyancing in Cowley differ for new build properties?
Most buyers of new build residence in Cowley approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the house is finished. This is because new home sellers in Cowley tend to buy the real estate, 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 Cowley or who has acted in the same development.
Is it possible to switch conveyancer as I have to retain one who is on the Yorkshire Building Society conveyancing panel. I instructed a high street conveyancing solicitor in Cowley five minutes from me but he is not approved by Yorkshire Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Cowley on the Yorkshire Building Society panel. Please note that the solicitors that we work with do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who oversee all conveyancing solicitors in Cowley. In making use of search facility on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Cowley.
Notwithstanding our best endeavours, we have been unsuccessful in seeking a lease extension in Cowley. Can this matter be resolved via the Leasehold Valuation Tribunal?
in cases where there is a missing freeholder or if there is disagreement about the premium for a lease extension, under the relevant statutes it is possible to make an application to the Leasehold Valuation Tribunal to assess the price.
An example of a Freehold Enfranchisement matter before the tribunal for a Cowley property is 164 Nestles Avenue in October 2013. The tribunal agreed with the proposed price of £20,158 for the freehold and determined that that sum is the amount to be paid into court This case related to 2 flats. The remaining number of years on the lease was 69 years.
Are there frequently found defects that you encounter in leases for Cowley properties?
There is nothing unique about leasehold conveyancing in Cowley. Most leases are drafted differently and legal mistakes in the legal wording can sometimes mean that certain clauses are wrong. The following missing provisions could result in a defective lease:
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A provision to repair to or maintain parts of the premises
A defective lease can cause problems when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. Yorkshire Building Society, Chelsea Building Society, and Nottingham Building Society all have very detailed conveyancing instructions when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease is defective they may refuse to grant the mortgage, forcing the buyer to pull out.