Am I correct in assuming that the fact that my solicitor in Ladywood is not listed on my mortgage company's solicitor panel that there is a problem with the standard of his conveyancing?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Ladywood conveyancing firm and ask them why they are no longer on the approved list for your lender.
Our son is about to exchange on a newly built flat in Ladywood with a home loan from Yorkshire BS. His lawyer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
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 Yorkshire BS conveyancing panel as a standard part of the process, and to the valuer when requested. 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 Yorkshire BS conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Do I need to pop into the offices of the solicitor to execute the legal charge? If so, I will instruct a firm who offer conveyancing in Ladywood so that I can attend their offices if necessary.
Nowadays conveyancing panel lawyers for lenders conduct their communications through the post, internet or over phone calls. This enables them to carry out the conveyancing transaction regardless of where you live in the country. However you can check if you have the option of visiting the offices of your conveyancing lawyer if you prefer.
I just acquired a property at auction in Ladywood. Conveyancing is necessary. What are my next steps?
Now that you are for in every practical sense signed on the dotted line you should appoint a conveyancing lawyer as a matter of urgency as you will have a tight a drop dead date to complete the transaction. All auction property will ordinarily have a bespoke auction set of papers. This will likely include most,if not all of the documents that your solicitor requires. In the case of leasehold property the legal papers should contain a copy of the lease, management information and a sellers leasehold information form and other conveyancing paperwork relating to leasehold premises. You must pass this on to the lawyer instructed by you ASAP. Do make sure that that you have the requisite funding in order to complete the transaction on the set completion date.
A relative informed me that in buying a property in Ladywood there may be a number of restrictions prohibiting external alterations to a property. Is this right?
There are anumerous of properties in Ladywood which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Ladywood should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
When it comes to mortgage companies such as Lloyds, do Ladywood property lawyers incur an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel application.
I understand that there are debates on Chancel Insurance on online forums. Do I need chancel insurance when purchasing a property in Ladywood? or Apparently there is an ancient law that could mean that homeowners living in a parish church boundary may be liable to contribute towards maintenance to the chancel in proximity to the church. Is this relevant for conveyancing in Ladywood?
Unless a prior purchase of the property took place post 12 October 2013 you could assume that solicitors handling conveyancing in Ladywood to continue to suggest a chancel search and or insurance against a claim.
Due to the guidance of my in-laws I had a survey completed on a property in Ladywood in advance of retaining solicitors. I have been advised that there is a flying freehold element to the house. The surveyor has said that some mortgage companies will refuse to grant a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Halifax. If you contact us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Ladywood. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Ladywood to see if the conveyancing will be more expensive.