I am not well enough to travel far from Gunnersbury. I would like to know the understand why all Gunnersbury lawyers aren't included on all bank panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The elimination of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies culling less reputable firms off their panel of approved conveyancing practitioners .
I happen to be the sole beneficiary of my late grandmother’s will and I have everything in my name alone, including the my former home in Gunnersbury. The Gunnersbury property was put into my name in December. I plan to dispose of the property. I do know about the CML six month 'rule', meaning my property ownership will be treated the same way as though I had purchased the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you could be affected by that. How practical a view banks take of it, depend on the mortgage company as this provision is primarily there to pick up on subsales or the flipping of property.
is it true that all Gunnersbury solicitors on the Principality conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Principality approved list of solicitors they would need to be overseen by the SRA. The majority of banks do list licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
We are getting a further advance on our home loan from Leeds Building Society as we want to conduct alterations to our property in Gunnersbury. Are we obliged to appoint a high street Gunnersbury solicitor on the Leeds Building Society conveyancing panel to deal with the legals?
Leeds Building Society do not ordinarily appoint firms on their approved list of lawyers to deal with the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the Leeds Building Society panel.
I require expedited conveyancing in Gunnersbury as I am faced with pressure to exchange contracts within 2 weeks. Fortunately I do not need a mortgage. Can I decline from having conveyancing searches to save money and time?
If.Given you are not getting a home loan you have the choice not to do searches although no conveyancer would advise that you don't. Drawing on years of experience of conveyancing in Gunnersbury the following are instances of what can crop up and adversely impact the marketability of the property: Refused Planning Applications, Outstanding Charges, Outstanding Grants, Railway Schemes,...
Are there restrictive covenants that are commonly picked up during conveyancing in Gunnersbury?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Gunnersbury. 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…’
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in a fortnight ago in what should have been a simple, no chain conveyancing. Gunnersbury is where the house is located. Is there any guidance you can impart?
Flying freeholds in Gunnersbury are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Gunnersbury you would need to get your solicitor to go 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 Gunnersbury 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 property.
Am I right to be suspicious about brokers that I am dealing with are suggesting a national conveyancing firm as opposed to a local Gunnersbury conveyancing firm?
As is the case with many service providers, often recommendations from connections can be worth their weight in gold. Nevertheless there are lots of parties with a vested interest in a conveyancing deal; estate agents, mortgage brokers and mortgage companies might all recommend conveyancers to select. Sometimes these solicitors might be known to one of the organisations as one of the best in their field, but occasionally there exists a commercial relationship behind the endorsement. You are at liberty to choose your preferred lawyer. Don't forget that some banks have an approved list of solicitors you have to use for the lender aspect of your home move.