My husband and I are planning to acquire a property in Old Malden and are in fact using a Old Malden conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Ireland have this afternoon contacted us to inform me that there is now an issue as our Old Malden conveyancer is not on their conveyancing panel. Please explain?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' lawyers to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Old Malden lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My wife and I are purchasing a house in Old Malden. It might be a silly question but how we can trust a solicitor? At some point we will need to put funds into their account. What protection do we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
We are buying a victorian detached house in Old Malden. Our aim is to an extension at the rear at the property.Will legal conveyancing on the property include checks to determine if these alterations were previously refused?
Your property lawyer should check the deeds as conveyancing in Old Malden can occasionally reveal restrictions in the title documents which restrict categories of changes or require the permission of a 3rd party. Many extensions need local authority planning permissions and approval in accordance building regulations. Many areas are designated conservation areas and special planning restrictions apply which often prevent or impact extensions. You should check these issues with a surveyor ahead of any purchase.
My lawyer has informed me that defective lease insurance is required on my purchase. What is the level of cover for Old Malden conveyancing?
The right level of defective lease indemnity insurance depends on who your lender is. It would differ for example between Santander and Bank of Scotland. Conveyancing lawyers as opposed to members of the public take out such insurances.
Will commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Old Malden?
Its becoming the norm that commercial conveyancing solicitors in Old Malden will execute a SiteSolutions Highways report as it reduces the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Old Malden. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Old Malden.
For every commercial conveyancing transaction in Old Malden it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Old Malden commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Old Malden.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Old Malden is where the house is located. Can you shed any light on this issue?
Flying freeholds in Old Malden are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Old Malden you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Old Malden may ascertain 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 residence.
In scouring the internet for the words conveyancing in Old Malden it shows results of many solicitorsin the area. With so much choice what is the best way to find the suitable solicitor for the sale of my house?
The ideal way of seeking a suitable conveyancer is through a personal referral, so seek the guidance of colleagues and relatives who have bought a property in Old Malden or the respected estate agent or mortgage broker. Costs for conveyancing in Old Malden differ, so it's a good idea to request a minimum of four quotes from different solicitors. Dont forget to clarify that the fees are fixed.
What type of property do your Old Malden conveyancing quotes apply to?
The quotes supplied are only relevant to standard residential homes in England & Wales. If you have any different requirements for instance industrial or agricultural land or commercial conveyancing in Old Malden do telephone us to discuss this further .