I can't travel far from Petts Wood. What is the rationale as to why all Petts Wood conveyancers are not on all mortgage company panels?
As unjust as it may seem for mortgage companies to restrict who can act for them, from the public’s or solicitor’s point of view, the flip side is that banks are becoming ever more anxious and consider it essential to protect them against mortgage fraud. As a consequence of this concern banks are limiting their panel of approved conveyancing lawyers to a manageable size.
We hope to to buy with Melton Mowbray Building Society. I dropped in a couple of local solicitors yet am struggling to find a Petts Wood conveyancing firm on the Melton Mowbray Building Society approved list. Please you assist?
Feel free to take advantage of the find a conveyancing panel solicitor tool on this web page. Please choose the mortgage company and type Petts Wood or your location and you will see numerous conveyancers located in Petts Wood or nearest you.
My lawyer has informed me that chancel insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Petts Wood?
The appropriate level of chancel indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and Norwich and Peterborough Building Society. Conveyancing practitioners as opposed to borrowers take out such insurances.
When it comes to lenders such as Clydesdale, do Petts Wood solicitors incur an annual charge to be on the conveyancing panel?
We are unaware of any lender fees to be on their panel, although some do charge an administration fee to deal with the processing of the conveyancing panel submission.
I can not work out if my mortgage offer requires a lease extension. I have telephoned my Petts Wood building society branch on numerous occasions and was told it does not affect the mortgage offer and they will lend. My Petts Wood conveyancing solicitor - who is on the lender conveyancing panel- called and was told they refuse to lend based on their specific requirements. Who do I believe?
Provided that the conveyancing practitioner is on the bank panel, she or he must follow the CML Handbook specifications for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
My friend advised me that where I am buying in Petts Wood I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is occasionally quoted for as part of the standard Petts Wood conveyancing searches. It is a large report of about 40 pages, listing and setting out significant information about Petts Wood around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Petts Wood Education with maps and statistics, Local Amenities and other useful information about Petts Wood.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what was supposed to be a simple, chain free conveyancing. Petts Wood is where the house is located. Can you offer any advice?
Flying freeholds in Petts Wood are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Petts Wood you would need to get your solicitor to go 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 Petts Wood 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.
I am looking for a conveyancing solicitor in Petts Wood for my house move. Is there any facility to review a solicitor's complaints history with the profession’s regulator?
Anyone may review published Solicitor Regulator Association (SRA) decisions resulting from investigations from 2008 onwards. Visit Check a solicitor's record. To find details about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For non-uk callers, dial +44 (0)121 329 6800. The SRA may recorded call for training requirements.