I was told yesterday by my lender that my Hadfield property lawyer is not on the mortgage company Solicitor panel. How can I check?
Your first step should be to call your Hadfield conveyancer. You lawyer should advise you what has happened. If they are not on the panel they could put your in touch with solicitors on the conveyancing panel for your mortgage company.
It is a dozen years since I purchased my house in Hadfield. Conveyancing solicitors have now been instructed on the sale but I can't locate the title documents. Is this a problem?
You need not be too concerned. Firstly there is a chance that the deeds will be kept by the mortgage company or they could be in the possession of the solicitor who handled your purchase. Secondly in all probability the title will be recorded at the land registry and you will be able to prove you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Hadfield relates to registered property but in the rare situation where your home is not registered it is more tricky but is resolvable.
What happens if my solicitor is removed from the Virgin Money Solicitor panel ahead of completing my conveyancing in Hadfield?
The first thing to point out is that, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit for a fee.
Should my conveyancer be raising enquiries regarding flooding during the conveyancing in Hadfield.
Flooding is a growing risk for conveyancers specialising in conveyancing in Hadfield. There are those who buy a property in Hadfield, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not qualified to offer advice on flood risk, however there are a number of searches that can be initiated by the purchaser or by their conveyancers which can give them a better understanding of the risks in Hadfield. The standard information sent to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the owner to determine if the property has historically flooded. If the property has been flooded in past and is not disclosed by the owner, then a purchaser could issue a claim for damages as a result of such an inaccurate answer. A buyer’s conveyancers will also commission an environmental report. This will reveal if there is a recorded flood risk. If so, additional investigations should be made.
I'm purchasing a new build house in Hadfield with a mortgage from The Royal Bank of Scotland. The sellers refused to budge the price so I negotiated 6k of extras instead. The estate agent advised me not disclose to my solicitor about this deal as it may impact my mortgage with the bank. Should I keep quiet?.
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.
As a leasehold owner I am liable for a service charge for my flat in Hadfield. Due to redundancy and personal issues I fell into arrears with remittance. I negotiated a payment schedule but there remains a couple of outstanding as of today.
I want to dispose of the property and I am worried this could hold me back if I have to discharge the amount due first. I'd like to sell up and then pay them back with the proceeds - is this viable?
It would be wise to clarify with the solicitor handling your Hadfield conveyancing but one option might be to arrange for the debt to be attributed to the purchasers. The sale price due would be adjusted to reflect the amount of debt they assume. They would then discharge the arrears post completion of the sale.