I am obtaining a offer of a home loan from Nat West. My intention is to employ the services of a Licensed Conveyancer in Fairford. Does the Nat West Solicitor panel exclude conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the CLC.
I had intended to instruct a conveyancing solicitor in Fairford for our home move. Our financial adviser has since advised us that our bank Leeds Building Society won't deal with them. Surely this is unfair competition?
Before the recession most lenders had a different appetite for risk. Almost all Fairford conveyancing firms would have been on most lender panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms concerning their operations and their employees and establishing certain criteria such a completing on a minimum volume of conveyancing. Many Fairford conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Fairford is amongst the many areas where the lawyers we recommend are are authorised to act for Leeds Building Society.
There is lots of information on this site regarding conveyancing in Fairford but what is your top tip for selecting the right conveyancer in Fairford
Do not opt for the cheapest Fairford conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Can you point me to a directory of Kent Reliance panel conveyancers in Fairford on the UK Finance Lenders’ Handbook Website?
No. There is no such tool on the Council of Mortgage Lenders or Building Society Association websites. Very few lenders make their panel listings viewable over the internet. If you are in need of a Fairford conveyancing practitioner on the Kent Reliance please make the most of our facility.
Having digested plenty of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Fairford solicitor - who is on the Virgin Money conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. is that correct?
Virgin Money will need an independent valuation of the property. Your lawyer will not arrange this. Usually Virgin Money 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 conveyancer 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 Fairford postcode. As you are getting a mortgage with Virgin Money, you could contact them to see if they have a list of approved surveyors in Fairford.
Are there restrictive covenants that are commonly picked up during conveyancing in Fairford?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Fairford. 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 have been on the look out for a leasehold apartment up to £235,500 and found one near me in Fairford I like with a park and railway links nearby, however it's only got 61 years unexpired on the lease. I can't really find anything else in Fairford suitable, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a home loan the shortness of the lease may be problematic. Discount the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer about this matter.
We are a couple of weeks into a leasehold purchase having been referred to a firm by the high street agent to do our conveyancing in Fairford. I am am starting to be frustrated with the level of service. Can you help me find new solicitors?
A lawyer would need to be really bad to suggest replacing them. Has your mortgage been issued? In the event that it has you must inform them of the new conveyancer and have the mortgage documents are re-sent. Your new solicitor ideally should be on the banks panel to avoid escalating charges and complications. So that should be your starting point. The search tool can help you find a lender approved conveyancer for your conveyancing in Fairford