I had intended to instruct a conveyancing solicitor in Endon for our house purchase. Our financial adviser informed us that our mortgage company National Westminster Bank won't deal with them. Why is this not regarded as unfair competition?
A lender will require a panel conveyancer act for it. You would be expected to bear the cost of this. Do use our search facility to find a solicitor to conduct conveyancing in Endon on the National Westminster Bank approved list of solicitors.
Is it the case that all Endon solicitor firms on the Principality conveyancing panel are overseen by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Principality conveyancing panel they would need to be governed by the SRA. Some banks do list licenced conveyancers on their panel and in that case the practice would be regulated by the Council of Licensed Conveyancers.
I am buying a property in Endon. One unusual aspect is that the roof has a solar panel. Leeds Building Society have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Leeds Building Society your lawyer must follow the formal requirements outlined in Section 2 of UK Finance Lenders’ Handbook for Leeds Building Society. The CML Handbook contains minimum conditions for solar panel roof-space leases, and lawyers are required to report to Leeds Building Society where a lease fails to comply with these specifications. The provisions relate to the installation of panels on properties in England and Wales and is not limited to Endon.
I've digested plenty of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Endon solicitor - who is on the Leeds Building Society conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Leeds Building Society will need an independent valuation of the property. Your lawyer will not arrange this. Usually Leeds Building Society will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Endon postcode. As you are getting a mortgage with Leeds Building Society, you could contact them to see if they have a list of approved surveyors in Endon.
Should our conveyancer be asking questions about flooding as part of the conveyancing in Endon.
The risk of flooding is if increasing concern for solicitors dealing with homes in Endon. There are those who acquire a property in Endon, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Lawyers are not qualified to give advice on flood risk, but there are a number of searches that can be carried out by the buyer or by their lawyers which will figure out the risks in Endon. The conventional set of information supplied to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard inquiry of the vendor to find out if the premises has ever been flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a purchaser may commence a compensation claim as a result of such an inaccurate response. A purchaser’s solicitors should also conduct an environmental search. This will disclose if there is any known flood risk. If so, further inquiries should be made.
Are there restrictive covenants that are commonly identified as part of conveyancing in Endon?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Endon. 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 buying a new build house in Endon with a mortgage from Santander. The builders would not budge the amount so I negotiated five thousand pounds worth of extras instead. The house builders rep told me not reveal to my lawyer about this side-deal as it may put at risk my mortgage with the bank. Do I keep my lawyer in the dark?.
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 encouragement of my in-laws I had a survey completed on a property in Endon before instructing lawyers. I have been advised that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend not give a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions from Birmingham Midshires. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Endon. Conveyancing will be smoother if you use a solicitor in Endon especially if they regularly deal with such properties in Endon.