We are hoping to buy a 3 bedroom apartment in Selsey with a loan from Chelsea Building Society.We use our Selsey conveyancing solicitor but Chelsea Building Society informed us he's not listed on their "panel". we are left little option but to use a Chelsea Building Society panel firm or keep our preferred solicitor and fork out for a Chelsea Building Society panel lawyer to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage issued to you is subject to its various provisions, one of which will be that conveyancers will be on the Chelsea Building Society approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Chelsea Building Society
I am aiming to move home in January. Should my conveyancing solicitor liaise with the removal company on the day of completion. As an aside, can you suggest a removal company in Selsey. Conveyancing lawyer was found before I stumbled across your website.
On the afternoon of completion you will need to collect the house keys from the property agent but this can only take place once the sellers solicitors advise the agent that they acknowledge receipt of the completion payment and the keys can be given over. Subsequently you can advise the removal company that you are ready to move in. We are not in a position to suggest a particular removal organisation but can help you find a residential property solicitor in Selsey or a firm with expertise in conveyancing in Selsey.
When it comes to mortgage companies such as Skipton, do Selsey conveyancers have to pay a fee to be on the list of approved solicitors?
We are not aware of any lender fees to be on their panel, although some do levy an administration fee to deal with the processing of the conveyancing panel application.
I am selling my apartment. I had a double glazing fitted in September 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Bank of Ireland are being difficult. The Selsey solicitor who is on the Bank of Ireland conveyancing panel is recommending indemnity insurance as a solution but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Should commercial conveyancing searches reveal planned roadworks that could affect a commercial estate in Selsey?
Its becoming the norm that commercial conveyancing solicitors in Selsey will carry out a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Selsey. The search result sets out definitive data 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 Selsey.
For each commercial conveyancing transaction in Selsey it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Selsey commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for residential conveyancing in Selsey.
I opted to have a survey carried out on a property in Selsey prior to retaining solicitors. I have been told that there is a flying freehold aspect to the property. The surveyor has said that some banks tend refuse to issue a mortgage on this type of property.
It depends who your proposed lender is. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Selsey. Conveyancing may be slightly more expensive based on your lender's requirements.
What makes a Selsey lease unmortgageable?
Leasehold conveyancing in Selsey is not unique. All leases are drafted differently and drafting errors can result in certain clauses are wrong. The following missing provisions could result in a defective lease:
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Repairing obligations to or maintain parts of the premises
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Nationwide Building Society, The Royal Bank of Scotland, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease does not cover certain provisions they may refuse to grant the mortgage, obliging the buyer to pull out.
Leasehold Conveyancing in Selsey - Examples of Queries Prior to buying
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Are any of leasehold owners in dispute over their service charge liability? Does this lease have in excess of 80 years unexpired?
Me and my wife are soon to complete buying a property in Selsey but as a result of damage from the recent storms I have negotiated recompense from the owner of £2k in the form of a reduction in the price. I had intended this to be dealt with as part of the conveyancing process however the lender will not agree to this. Should they have been informed?
The lawyer being on the lender conveyancing panel is duty bound to advise the lender of any amendments to the purchase figure. In the event that you did not allow your property lawyer to report the reduction to your lender then they would have no choice but to disinstructing themselves from representing you and the lender.