My husband and I are looking to acquire a property in Disley and are in fact using a Disley conveyancing practice. Within the past 48 hours our conveyancer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Chelsea Building Society have this morning contacted us to inform me that they have now hit a problem as our Disley conveyancer is not on their conveyancing panel. Is this a problem?
When purchasing a property with the benefit of a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Disley lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
My aunt passed away 10 months ago and as sole heir and executor I was left the property in Disley. The house had a small mortgage remaining of approximately £5k. I want to have the title changed into my name whilst I re-mortgage to Virgin Money, pay off the mortgage. Is this allowed?
Given you plan to refinance then Virgin Money will require that you use a conveyancer on the Virgin Money conveyancing panel. Here is link to the Land Registry online guidance around what to do when a property owner dies. This will help you to understand the registration process behind changing the details re the registered title. in your case it would appear that you are effectively purchasing the property from the estate. Your Virgin Money conveyancing panel solicitor pays the new mortgage money into the estate, the estate pays off the old mortgage, the charge is released and you become the owner and the Virgin Money mortgage is registered as a charge at the Land Registry.
Should my lawyer be raising enquiries regarding flooding as part of the conveyancing in Disley.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Disley. Plenty of people will acquire a property in Disley, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, however there are a number of searches that may be initiated by the buyer or by their conveyancers which can figure out the risks in Disley. The conventional set of property information forms supplied to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the seller to determine if the premises has ever been flooded. If flooding has previously occurred which is not notified by the vendor, then a buyer may issue a claim for damages resulting from an incorrect reply. The buyer’s lawyers should also commission an environmental search. This will reveal whether there is any known flood risk. If so, more detailed investigations will need to be carried out.
The deeds to my home are lost. The conveyancers who handled the conveyancing in Disley 5 years ago no longer exist. What are my options?
Nowadays there are duplicates made of almost everything, and your conveyancer will be aware exactly where to find all the relevant documentation so you may purchase or dispose of your property without a hitch. If copies are not available, your lawyer can arrange cover in the form of insurance or indemnities against future claims on the premises.
I'm buying my first flat in Disley with a loan from TSB. The builders refused to move on the amount so I negotiated 6k of fixtures and fittings instead. The property agent suggested that I not to tell my lawyer about this side-deal as it could adversely affect my loan with TSB. 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.
My business partner and I are intending to take over a lease of a shop on a shopping parade. Can you recommend lawyers offering fixed charges for non-domestic conveyancing in Disley for less than 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Disley, including the disposal and purchase of businesses as well as simply property. If you are intending to purchase or lease a shop, pub, restaurant, office, retail premises or a whole business we can find you the right firm. As for the fees these will vary based on the structure and heads of terms of the proposed transaction. Please provide us with your details or email us so that we can furnish you with a fixed commercial conveyancing quote.