Unfortunately I am unable to travel far from Pagham. What is the rationale as to why all Pagham solicitors are not on all mortgage company panels?
Lenders highlight the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The elimination of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its outcome included recommendations for lenders to review their conveyancing panels, which triggered a major policy change in the sector. This led to banks and building societies pruning a number of firms off their books of approved lawyers .
There is lots of information on this site concerning conveyancing in Pagham but what is your top tip for selecting the right conveyancer in Pagham
Do not opt for the lowest Pagham conveyancing quote. You really do get what you pay for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
I am helping my aunt sell her house in Pagham. Will the conveyancing solicitor order an energy assessment or do I organise this?
After the abolition of HIPs, energy performance certificates remained a mandatory part of selling a property. An energy performance certificate must be to hand prior to the property being marketed. This is not as aspect of the sale process that law firms normally arrange. If you are using a Pagham conveyancing solicitor they might be able to arrange energy assessments due to their contacts with long established local assessors
I am purchasing a property in Pagham. An unusual aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that your lender is Yorkshire BS your lawyer must comply with the conveyancing instructions outlined in Section two of UK Finance Lenders’ Handbook for Yorkshire BS. The Council of Mortgage Lenders’ Handbook stipulates minimum requirements for solar panel roof-space leases, and lawyers are required to report to Yorkshire BS where a lease does not comply with these provisions. The requirements relate to the installation of panels on properties in England and Wales and is not restricted to Pagham.
Should my conveyancer be making enquiries about flooding as part of the conveyancing in Pagham.
The risk of flooding is if increasing concern for solicitors dealing with homes in Pagham. Plenty of people will buy a house in Pagham, completely expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate building insurance, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which should give them a better understanding of the risks in Pagham. The conventional set of property information forms given to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a usual inquiry of the owner to discover whether the premises has suffered from flooding. If the residence has been flooded in past which is not revealed by the vendor, then a buyer may bring a legal claim for losses stemming from an inaccurate response. The buyer’s lawyers may also commission an enviro search. This should disclose if there is any known flood risk. If so, more detailed investigations should be carried out.
How does conveyancing in Pagham differ for new build properties?
Most buyers of new build property in Pagham approach us having been asked by the housebuilder to sign contracts and commit to the purchase even before the property is ready to move into. This is because builders in Pagham usually purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Pagham or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I have offered on a fortnight ago in what was supposed to be a simple, no chain conveyancing. Pagham is the location of the property. Can you shed any light on this issue?
Flying freeholds in Pagham are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Pagham you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Pagham 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 property.
I have today placed an offer on an apartment in Pagham and the mortgage adviser that we are dealing with suggested his solicitor. He quoted nine hundred pounds plus VAT and 3rd party costs. Does this sound steep?
You should not rely on one quote. You should obtain like-for-like quotes for your conveyancing in Pagham. Then select one that you trust and just as important, is on the approved list of the bank that you are sourcing your mortgage from.