I was advised recently by my estate agent that my Fairwater solicitor is not on the bank Conveyancing panel. How can I be sure that this is correct?
You need to call your Fairwater conveyancer. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your bank.
After much negotiation I have agreed a price on a house in Fairwater. My mortgage broker recommended their conveyancers. I paid an advanced payment of £200. Shortly after, the lawyer contacted me to say that they were not on the Yorkshire BS conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Yorkshire BS panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am due to exchange contracts on my apartment. I had a double glazing fitted in October 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being problematic. The Fairwater solicitor who is on the Principality conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have instructed a Fairwater property lawyer having made sure that they are on the Virgin Money conveyancing panel. Does my lawyer arrange the survey of the property?
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. You may wish to consider appointing your own Fairwater surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I am buying a new build apartment in Fairwater. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Set out below are examples of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Fairwater
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Please supply a car parking plan. There must be mutual enforceability of lessee’s covenants. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I am looking for a leasehold apartment up to £195,000 and identified one round the corner in Fairwater I like with open areas and transport links in the vicinity, however it only has 52 years unexpired on the lease. There is not much else in Fairwater in this price bracket, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will be an issue. Reduce the price by the anticipated lease extension will cost if it has not already been discounted. If the current owner has owned the property for a minimum of twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
My company is hoping to lease a unit on a shopping parade. Can you recommend solicitors offering competitive costs for commercial conveyancing in Fairwater for less than 1500k?
We are happy to recommend firms who host a wealth of experience of commercial conveyancing in Fairwater, including the sale and acquisition of businesses as well as simply premises. If you are intending to buy or lease a shop, pub, restaurant, office, retail premises or a complete business we can find you the right lawyer. As for the costs these will vary based on the structure and terms of the proposed transaction. Please provide us with your contact information or call us so that we can furnish you with comprehensive commercial conveyancing quote.
My son is about to join the property ladder, the home loan was agreed last week in principle. One the seller agreed the offer on the apartment we called the building society to issue the formal offer. I was very surprised to hear that mortgage companies do not accept all solicitor, they have to be on a list, is this correct?
Banks tend to restrict either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Fairwater solicitor on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Presumably not.