My fiance and I are looking to purchase a house in Freshwater Bay and are in fact using a Freshwater Bay conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Alliance & Leicester have this evening contacted us to inform me that there is now an issue as our Freshwater Bay lawyer is not on their conveyancing panel. Please explain?
Where you are buying a property with the assistance of a mortgage 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 bank 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 don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Freshwater Bay lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
Our god-son is in the process of securing a new build apartment in Freshwater Bay with a home loan from Leeds Building Society. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. What is this document - I have never come across this before?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
We note that you have a search directory listing firms on the Santander conveyancing panel. Do firms pay you a referral fee if I retain them for our conveyancing in Freshwater Bay?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Freshwater Bay.
Yesterday I discovered that there is a flying freehold element on a house I have offered on last month in what should have been a simple, chain free conveyancing. Freshwater Bay is the location of the property. Is there any advice you can give?
Flying freeholds in Freshwater Bay are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Freshwater Bay you must be sure that your lawyer goes through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Freshwater Bay may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Given that I am about to part with over three hundred thousand on a terraced house in Freshwater Bay I would like to talk to a lawyer concerning thehome move ahead of giving the go ahead to the firm. Is this something that you can arrange?
This is something that we encourage - we would be happy to talk to you we do not take any clients on without you speaking to the lawyer due to be carrying out your conveyancing in Freshwater Bay.There is no ‘factory style conveyancing’ - every client is unique individual, not a matter reference. The solicitors that we put you in touch with believe that the fees you are provided with for your conveyancing in Freshwater Bay should be the figure that you are charged.
In my capacity as executor for the estate of my aunt I am disposing of a house in Swansea but reside in Freshwater Bay. My lawyer (approximately 260 kilometers awayrequires that I execute a statutory declaration ahead of the transaction finalising. Can you recommend a conveyancing lawyer in Freshwater Bay who can witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally or notary public or qualified solicitor will suffice regardless of whether they are Freshwater Bay based