My apartment in Ludlow is up for sale and I have accepted an offer. Will the property lawyer have to be on the Lloyds conveyancing panel in order to deal with redeeming my mortgage?
Ordinarily, even if your lawyer is not on the Lloyds conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their panel criteria fairly frequently in recent years.
When it comes to mortgage companies such as Bank of Ireland, do Ludlow solicitors have to pay a fee to be on the conveyancing panel?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
My husband and I have arranged the release of further monies on our home loan from Principality as we want to conduct a loft conversion to our property in Ludlow. Do we need to select a high street Ludlow solicitor on the Principality conveyancing panel to handle the paperwork?
Principality do not ordinarily require firms on their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Principality conveyancing panel.
I am currently in the process of buying my council flat in Ludlow. I have a mortgage agreed with Leeds Building Society. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Leeds Building Society, you will need to appoint a solicitor on the Leeds Building Society conveyancing panel.
Will my conveyancer be asking questions regarding flooding as part of the conveyancing in Ludlow.
The risk of flooding is if increasing concern for conveyancers dealing with homes in Ludlow. Plenty of people will buy a property in Ludlow, fully expectant that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Solicitors are not best placed to give advice on flood risk, but there are a number of checks that may be initiated by the purchaser or on a buyer’s behalf which should figure out the risks in Ludlow. The conventional set of property information forms sent to a buyer’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual question of the vendor to find out whether the property has suffered from flooding. If flooding has previously occurred and is not revealed by the seller, then a purchaser could commence a claim for damages as a result of such an incorrect answer. The buyer’s solicitors should also order an enviro report. This should disclose if there is a recorded flood risk. If so, more detailed investigations should be initiated.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Ludlow?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Ludlow. 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…’
Am I right to be concerned that 3rd parties that I am dealing with are encouraging me to use a web based conveyancing firm rather than a local Ludlow conveyancing company?
As is the case with many service providers, often recommendations from family and friends can be extremely useful or valuable. Yet there are numerous players in a conveyancing matter; estate agents, financial adviser and banks may suggest lawyers to instruct. Sometimes the solicitors might be known to one of the organisations as experts in their field, but occasionally there might be a financial incentive behind the endorsement. You are at liberty to appoint your own conveyancer. However, bear in mind that most lenders have an approved list of conveyancers you are obliged to use for the lender related work in your transaction.
My wife and I have recently appointed a conveyancing solicitor in Ludlow. I I would like to check if they are on the lender's approved list of lawyers. Can you assist?
It’s a good idea phone the solicitor and ask them if they are on the bank's approved list. If that does not help get in touch with us and we can make some checks for you. If they are not on the bank panel we can certainly arrange a reputable conveyancing solicitor in Ludlow on the approved list for your lender.