My fiance and I are planning to purchase a home in Elm Park and are in fact using a Elm Park 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. Virgin Money have this evening contacted us to inform me that they have now hit a problem as our Elm Park lawyer is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is standard for the purchasers' solicitors to also act for the purchaser's lender. 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 Accreditation Scheme. Your property lawyer should contact your lender 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 bank's conveyancing panel and you may continue to use your own Elm Park solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Completed the sale of my flat in Elm Park last August but our buyer keeps Skype messaging me to moan that their conveyancer needs to hear from mine. What should my lawyer have done now that I have sold?
Following your house sale your conveyancer is duty bound to forward the transfer documentation and all supplemental paperwork to the buyer’s solicitors. Where relevant, your lawyer must also evidence that the mortgage has been redeemed to the purchasers lawyers. There are no post completion formalities just for conveyancing in Elm Park.
My uncle passed away six months ago and as sole heir and executor I was left the property in Elm Park. The house had a small mortgage left on it of around £8000. I want to transfer the title deeds into my name whilst I re-mortgage to Clydesdale, pay off the mortgage. Is this possible?
Where you intend to refinance then Clydesdale will insist on your using a conveyancer on the Clydesdale 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 Clydesdale 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 Clydesdale mortgage is registered as a charge at the Land Registry.
What is the difference between a licensed conveyancer and conveyancing solicitor in Elm Park
Two types of professional can carry out conveyancing in Elm Park namely CLC regulated conveyancers or solicitors. The two can handle the legal services that required to complete the sale or acquisition of property. Both are duty bound to handle Elm Park conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be professionally administered and that the requisite procedures will be suitably taken.
A relative pointed out to me me that in buying a property in Elm Park there may be a number of restrictions limiting what one can do in terms of external changes to the property. Is this right?
We are aware of anumerous of properties in Elm Park which have some sort of restriction or requirement of consent to carry out external changes. Part of the conveyancing in Elm Park should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
My wife and I are in the process of viewing flats in Elm Park and I am about to put in an offer. Should I already have a conveyancing practitioner in place at this point? I am planning to take a mortgage with Lloyds.
You should start requesting conveyancing estimates from solicitors ASAP. Once you decide who you want to use and once your offer is accepted you can instruct them to work for you and forward their contact information on to the selling agent. As you are obtaining a mortgage with Lloyds, make sure you remember to check that your lawyer is on the Lloyds conveyancing panel.
Just had an offer accepted on a new build apartment in Elm Park. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below is a sample of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Elm Park
The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
Is it best to go with a Elm Park conveyancing solicitor based in the vicinity that I am buying? An old friend can handle the legal formalities but her office is 300kilometers away.
The benefit of a local Elm Park conveyancing practice is that you can drop in to sign documents, present your identification documents and pester them if necessary. Having local Elm Park know how is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who instructed your friend and they were content that must outweigh using an unknown Elm Park conveyancing lawyer solely due to them being based in the area.