I can't travel far from Ravensthorpe. Is there a reason why all Ravensthorpe conveyancers aren't automatically on all mortgage company panels?
Mortgage Companies ordinarily restrict either the type or volume of conveyancing practices on their approved list of lawyers. Frequent examples of such restriction(s) being that the practice needs to have at least two partners. As well as restricting the type of firm, some banks made a decision to reduce the size of their panel they permit to represent them. It is worth noting that mortgage companies have no accountability for the quality of service supplied by any Ravensthorpe conveyancer on their panel. Mortgage fraud was the key driver in the reduction of solicitor panels from 2008 notwithstanding that there are opposing points of view about whether solicitors sat at the center of that fraud. Statistics published by HMLR exposes that thousands of conveyancing practices only transact one or two conveyances annually. Those supporting conveyancing panel culls ask why conveyancing firms deserve any entitlement to be listed on a lender panel when it is apparent that property law is not their primary expertise?
Last May we completed a house move in Ravensthorpe. We have noticed several problems with the house which we suspect were overlooked in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that should have been carried out as part of conveyancing in Ravensthorpe?
The question is vague as to the nature of the problems and if they are specific to conveyancing in Ravensthorpe. Conveyancing searches and investigations undertaken as part of the buying process are designed to help avoid problems. As part of the legal transfer of property, the vendor completes a questionnaire called a Seller’s Property Information Form. If the information provided is misleading, you could possibly take legal action against the vendor for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Ravensthorpe.
If you had a top tip for choosing a conveyancing solicitor in Ravensthorpe what would it be?
It would be unwise to be seduced by the lowest Ravensthorpe conveyancing fees. 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 know exactly what you’ll have to pay in ahead of time.
When it comes to mortgage companies such as Principality, do Ravensthorpe property lawyers have to pay a yearly amount to be on the conveyancing panel?
We are not aware of any lender fees to register on their list of approved firms, although some do levy an administration fee to deal with the processing of the conveyancing panel submission.
I have instructed a Ravensthorpe property lawyer having checked that they are on the RBS conveyancing panel. Does my lawyer arrange the survey of the property?
RBS will need an independent valuation of the property. Your lawyer will not arrange this. Usually RBS will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Ravensthorpe surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
I used Stirling Law several years ago for my conveyancing in Ravensthorpe. Now, I need the documents however cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Ravensthorpe of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing my first flat in Ravensthorpe with a loan from Alliance & Leicester . The sellers refused to reduce the amount so I negotiated five thousand pounds worth of additionals instead. The property agent told me not to tell my conveyancer about this extras as it may adversely affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
My mum and dad are experiencing problems in finding their Ravensthorpe property on the HM Land Registry site. They have a vague memory 50 years ago when they purchased the house there were complications concerning the address not being recognised in some systems.
Almost all residences in Ravensthorpe should be revealed. Have you tried a search with just the postcode. Normally it should mention all the residences inside that postcode. Where recorded it will show up with a title number. If they bought back in the 60’s it's conceivable it may be unrecorded. The address could still be revealed but with the title number shown 'na'. In this scenario you will need to locate the original title documentation which could be with your parent’s lender.