Am I correct in assuming that the fact that my conveyancer in Lyme Regis is not identified on my bank's conveyancing panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer 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 Lyme Regis conveyancing practice and ask them why they are no longer on the approved list for your mortgage company.
My wife and I are in the throws of looking at apartments in Lyme Regis and I am now considering a potential offer. Should I already have a conveyancer appointed at this stage? I will be getting a mortgage with Nottingham.
You should start requesting conveyancing quotes from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and forward their details on to the selling agent. Given that you are taking out a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Nottingham are being pedantic. The Lyme Regis solicitor who is on the Nottingham conveyancing panel is recommending indemnity insurance as a solution but Nottingham are requiring a building regulation certificate. Why do Nottingham have a conveyancing panel if they don't accept advice from them?
It is probably the case that Nottingham have referred the matter to their valuer. The reason why Nottingham may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I was told three weeks ago that my mortgage has been agreed to by Kent Reliance. Is it usual for Kent Reliance to only issue the offer once my solicitor in Lyme Regis is approved on their conveyancing panel? Kent Reliance have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Kent Reliance to deal with your lawyer's application to be on the Kent Reliance conveyancing panel. There's no guarantee that your solicitor will be accepted.
A friend suggested that where I am purchasing in Lyme Regis I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Lyme Regis conveyancing searches. It is not a small report of more than thirty pages, listing and detailing important information about Lyme Regis around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Lyme Regis Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Lyme Regis Education with plans and statistics, Local Amenities and other useful information about Lyme Regis.
Due to the advice of my in-laws I had a survey completed on a house in Lyme Regis before retaining lawyers. I have been informed that there is a flying freehold overhang to the property. My surveyor advised that some mortgage companies will not give a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions from Nationwide. If you contact us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Lyme Regis. Conveyancing may be slightly more expensive based on your lender's requirements.
I am on look out for some leasehold conveyancing in Lyme Regis. Before diving in I would like to find out the remaining lease term.
If the lease is registered - and 99.9% are in Lyme Regis - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Lyme Regis Leasehold Conveyancing - A selection of Queries before Purchasing
-
Does the lease contain onerous restrictions? Please inform me if there are any major works in the planning that could add a premium to the service charges? Please note that where the lease has fewer than eighty years it will have adverse implications on the value of the flat. Check with your lender that they are willing to lend given the lease term. A short lease means that you will almost definitely have to extend the lease at some point and it is worth finding out how much this would cost. For most Lyme Regislease extensions you would need to own the property for two years before you are legally able to extend the lease.
How much will conveyancing in Lyme Regis cost?
The amount you are charged for conveyancing in Lyme Regis are likely to be calculated at:
- a fixed cost; or
- on a time spent basis (i.e. the time spent on the particular case).
In reality you seldom hear of Lyme Regis conveyancing companies invoice on time basis