I am expecting a offer of a home loan from Nat West. I would like to employ the services of a Licensed Conveyancer in Lydney. Does the Nat West Conveyancing panel exclude conveyancers regulated by the CLC?
The Nat West conveyancing panel is, like many other lenders, represented by the Council or Mortgage Lenders or Building Society Association, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
My partner and I are approaching an exchange on a house in Lydney and my parents have transferred the ten percent deposit to my conveyancer. I am now told that as the deposit has been sent from someone other than me my property lawyer needs to disclose this to my lender. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is not just from me. I disclosed to the lender concerning my parents' contribution when I applied for the mortgage, so is it really appropriate for this now to hold matters up?
Your solicitor is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own resources. Your solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
It is 10 years ago since I purchased my property in Lydney. Conveyancing solicitors have recently been retained on the sale but I can't track down the deeds. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with your mortgage company or they may be in the possession of the conveyancers who handled your purchase. Secondly the likelihood is that the property will be recorded at the land registry and you will be able to establish that you are the registered owner by your conveyancing lawyers procuring current official copies of the land registers. Almost all conveyancing in Lydney involves registered property but in the unlikely event that your home is unregistered it adds to the complexity but is resolvable.
My bid for a property was accepted at auction in Lydney. Conveyancing is necessary. What is next?
Now that you are exchanged you must choose a conveyancing solicitor soon as you now have a fast approaching deadline in which to complete the deal. All auction property should have a corresponding legal pack. This will include evidence of title and search results. In the case of leasehold premises the legal papers should provide a copy of the lease, management information and a sellers leasehold information form and associated conveyancing documentation relating to leasehold premises. You need to give this to the solicitor working for you ASAP. You also need to ensure that your finances are organised to complete the transaction on the set completion date.
This question may be naive but I am new to the process as a first time buyer of a garden flat in Lydney. Do I pick up the keys to the property on the completion date from my lawyer? If so, I will appoint a local conveyancing solicitor in Lydney?
There is no need to visit the lawyers office on the day of completion. Your solicitors will arrange to send the completion advance to the owner’s lawyers, and once they have received this, you will be called to pick up the keys from the property Agents and move into your new home. Usually this happens between 1 and 3pm.
Two weeks ago we had a mortgage agreed in principle with Skipton. Lydney conveyancing solicitors were chosen. How long does it take for Skipton to issue the offer to the property lawyer?
There is no definitive answer here. Have Skipton conducted the survey? Have you informed Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I need some fast conveyancing in Lydney as I am faced with pressure to complete within 2 weeks. A mortgage is not required. Can I decline from having conveyancing searches to save fees and time?
If.Given you are not taking a mortgage you have the choice not to do searches although no conveyancer would recommend that you don't. With lots of history conveyancing in Lydney the following are examples of what can appear and adversely affect future mortgageability: Enforcement Actions, Outstanding Charges, Outstanding Grants, Unadopted Roads,...
I've recently found out that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a quick, no chain conveyancing. Lydney is the location of the property. Can you shed any light on this issue?
Flying freeholds in Lydney are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lydney you must be sure that your lawyer goes through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Lydney may determine 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 premises.