Me and my partner are soon to complete buying a house in Salford but as a consequence of damage from the recent storms I have was able negotiate recompense from the owner in the sum of £2k in the form of a adjustment in the price. I had intended this to be addressed as part of the conveyancing process yet UBS are not allowing this. Should they have been notified?
Any conveyancer being on a UBS approved list is required to inform UBS of any variations to the purchase price. If you were to refuse your property lawyer to disclose the reduction to UBS then they would have to discontinue acting for you. In addition, UBS and you would have to appoint a new conveyancer for your conveyancing in Salford.
How up to date is your search tool for Salford conveyancing solicitors on the Lloyds conveyancing panel? Do Lloyds send you an updated list?
Salford conveyancing firms themselves provide us confirmation that they are on the Lloyds conveyancing panel as opposed to being supplied with a list from Lloyds directly.
Is it the case that all Salford CQS (Conveyancing Quality Scheme) solicitors are on the Barclays conveyancing panel?
Some major banks and building societies now utilise CQS as the kick off point for Panel approval such as HSBC and Santander. CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
Is it the case that all Salford solicitor practices on the Nottingham conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Nottingham approved list of solicitors they would need to be overseen by the SRA. The majority of mortgage companies do permit licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
It is not clear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have telephoned my Salford building society branch on various occasions and was told they are content with the situation and they would lend. My Salford conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their specific requirements. Who do I believe?
The conveyancing practitioner must comply with the CML Handbook section two specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company 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.
How does conveyancing in Salford differ for newly converted properties?
Most buyers of new build premises in Salford come to us having been asked by the builder to sign contracts and commit to the purchase even before the house is constructed. This is because house builders in Salford typically buy the land, 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 property lawyers 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 accustomed to new build conveyancing in Salford or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a property in Salford ahead of appointing conveyancers. I have been told that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will refuse to give a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different instructions for example to Birmingham Midshires. If you call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Salford. Conveyancing will be smoother if you use a solicitor in Salford especially if they are familiar with such properties in Salford.
My mother and father are having difficulties in finding their Salford land registry title on the site. They have a vague recollection 50 years ago when they bought the bungalow there were complications concerning Salford not being identified on some systems.
Nearly all properties in Salford should be revealed. Have you limited your search to just the postcode. Ordinarily it should mention all the residences within that postcode. Assuming the property is recorded it will be there with a title number. Where they bought back in the 60’s it's conceivable it may be unregistered. The property could still be revealed but with the title number shown 'na'. In this scenario you will need to find the original title papers which could be with your parent’s bank.