What happens if my lawyer’s firm is removed from the Co-operative Conveyancing panel ahead of completing my conveyancing in Downham?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
I am downsizing from our home in Downham and according to the buyers it appears that there is a risk of it being constructed on contaminated land. A high street Downham lawyer would know that there is no such problem. For the life of me I don't know why the purchasers instructed a nationwide conveyancing firm as opposed to a conveyancing solicitor in Downham. We have lived in Downham for three years we know of no issue. Do we get in touch with our local Authority to get confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer already. What do they say? You should enquire of 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 life insurance to cover that same sickness)
I'm buying my first flat in Downham with a loan from Leeds Building Society. The builders refused to move on the price so I negotiated £7000 of extras instead. The sale representative advised me not to tell my solicitor about the side-deal as it would affect my loan with the lender. 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.
Due to the advice of my in-laws I had a survey completed on a property in Downham prior to retaining lawyers. I have been advised that there is a flying freehold overhang to the property. My surveyor advised that some lenders tend refuse to grant a loan on a flying freehold house.
It depends who your proposed lender is. Lloyds has different requirements for example to Nationwide. Should you wish to telephone us we can look into this further with the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Downham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Downham to see if the conveyancing costs will increase in light of this.
Should I be concerned about brokers that I am dealing with are recommending a web based conveyancing firm as opposed to a local Downham conveyancing firm?
As with many service providers, often suggestions from connections can be worth their weight in gold. Yet there are many people with a vested interest in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies might all put forward solicitors to instruct. On occasion the solicitors might be known to one of the organisations as experts in their field, but sometimes there might be a financial incentive behind the endorsement. You have the right to choose your own conveyancer. However, bear in mind that some banks specify a panel list of law firms you are obliged to use for the mortgage aspect of your transaction.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Downham. I've land on a web site which looks to be the perfect offering If there is a chance to get all this stuff done via phone that would be ideal. Do I need to be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?