How up to date is your database of Crediton solicitors on the Leeds Building Society conveyancing panel? Do Leeds Building Society send you an updated list?
Crediton conveyancing firms themselves provide us confirmation that they are on the Leeds Building Society conveyancing panel as opposed to being supplied with a list from Leeds Building Society directly.
This question may be naive but I am unseasoned as a first time purchaser of a ground floor flat in Crediton. Do I collect the keys to the property on the completion date from my lawyer? If so, I will use a local conveyancing solicitor in Crediton?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the purchase money to the seller's conveyancers, and shortly after the monies have arrived, you will be called to receive the keys from the Estate Agents and start moving into the property. Usually this occurs between 1 and 3pm.
Is it the case that all Crediton solicitors on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB conveyancing panel they would need to be regulated by the Solicitors Regulatory Authority. Some lenders do permit licenced conveyancers on their panel and in such a situation the firms would be overseen by the CLC.
I have paid off my mortgage with Leeds Building Society. I assume I don't need a Crediton property lawyer on the Leeds Building Society panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Leeds Building Society 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 Leeds Building Society mortgage from the register. Leeds Building Society, 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 Leeds Building Society has sent the Land Registry the discharge electronically, and
- Leeds Building Society has instructed the Land Registry to do so
Should our lawyer be raising questions regarding flooding during the conveyancing in Crediton.
Flooding is a growing risk for conveyancers conducting conveyancing in Crediton. There are those who purchase a house in Crediton, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, but there are a number of checks that may be carried out by the buyer or by their lawyers which will figure out the risks in Crediton. The conventional set of information supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) includes a standard inquiry of the vendor to find out whether the premises has suffered from flooding. In the event that the premises has been flooded in past which is not notified by the owner, then a buyer could bring a legal claim for losses as a result of such an incorrect answer. The purchaser’s lawyers will also carry out an enviro search. This should higlight whether there is a recorded flood risk. If so, more detailed investigations should be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Crediton?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Crediton. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I am purchasing my first flat in Crediton benefiting from help to buy. The sellers would not reduce the price so I negotiated five thousand pounds worth of extras instead. The house builders rep advised me not reveal to my solicitor about the side-deal as it could affect my mortgage with Virgin Money. 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.
How up-to-date is your database of lawyers on the lender conveyancing panel in Crediton? Do the mortgage companies send you an updated list?
Crediton firms and firms carrying out conveyancing in Crediton themselves provide us confirmation that they are on the mortgage company conveyancing panel as opposed to being supplied with a list from the bank directly.