Unfortunately I am unable to travel far from Lichfield. Is there a reason why all Lichfield conveyancers are not on all bank panels?
Before the recession most lenders had an approach to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into property fraud which concluded: know the conveyancing practitioners on your panel. Consequently, banks have subsequently looked to extract more information from law firms concerning their processes and the individuals who work for them and set certain criteria such as completing a minimum volume of transactions. Hundreds of law practices have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Such firms found it impossible satisfy the minimum volume of transactions the lenders set.
Can you explain why leasehold purchase conveyancing in Lichfield is more expensive?
Lichfield leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving appropriate notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We previously chose conveyancers with offices in Lichfield on the Clydesdale solicitor panel. They have just invoiced me a supplemental charge for dealing with the Clydesdale mortgage. Is this a supplemental conveyancing fee set by Clydesdale?
Unfortunately, as long as it is in their Terms and Conditions or Quote then yes your lawyer may levy a fee for this. The charge is not dictated by Clydesdale but by your Lichfield solicitor. Plenty of firms on the Clydesdale panel will levy ’dealing with mortgage’ fee and others do not.
We expect to receive a AIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Lichfield solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Lichfield solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I was told three weeks ago that my mortgage has been agreed to by Lloyds. Is it usual for Lloyds to only issue the offer once my solicitor in Lichfield is approved on their conveyancing panel? Lloyds have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Lloyds to deal with your lawyer's application to be on the Lloyds conveyancing panel. There's no guarantee that your solicitor will be accepted.
I purchased my house on 9 February and the transaction details is yet to be registered. Should I be concerned? My conveyancing solicitor in Lichfield said it would be recorded in less than a month. Are titles in Lichfield particularly slow to register?
As far as conveyancing in Lichfield is concerned, registration is no faster or slower than the rest of the country. Rather than based on location, timeframes can vary according to the party submitting the application, whether there are errors and if the Land registry have to notify any 3rd persons or bodies. At present approximately 80% of such applications are fully addressed within two weeks but occasionally there can be longer hold-ups. Historically registration takes place once the buyer has moved in to the premises so post completion formalities is not typically top priority but if there is a degree of urgency associated with the registration then you or your solicitor can speak with the land registry and explain the circumstances.
I'm purchasing my first flat in Lichfield with a mortgage from Birmingham Midshires. The builders would not move on the amount so I negotiated 6k of extras instead. The property agent suggested that I not reveal to my conveyancer about this side-deal as it may impact my mortgage with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Lichfield and how can your lawyers assist?
The particular law that you refer to gives security of tenure to business tenants, granting the legal entitlement to apply to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Lichfield