I can't travel far from Silsoe. I would like to know the reason why all Silsoe solicitors aren't included on all mortgage company panels?
Pre- 2008 most mortgage companies displayed an attitude to risk which is different from today. The financial regulator in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, mortgage companies have subsequently looked to extract more information from law firms about their processes and the staff employed by them and set certain criteria such as completing a minimum amount of transactions. Hundreds of firms have found themselves removed from lender panels even though they had 100% healthy disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible satisfy the minimum volume of transactions the mortgage companies insisted on.
Will my lawyer be asking questions about flooding as part of the conveyancing in Silsoe.
The risk of flooding is if increasing concern for lawyers dealing with homes in Silsoe. There are those who acquire a property in Silsoe, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not qualified to offer advice on flood risk, but there are a number of searches that may be carried out by the purchaser or by their lawyers which should figure out the risks in Silsoe. The conventional set of completed inquiry forms supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a standard question of the owner to discover whether the property has historically flooded. In the event that the property has been flooded in past which is not disclosed by the vendor, then a purchaser could commence a claim for damages as a result of such an incorrect response. A buyer’s solicitors may also commission an environmental search. This should reveal whether there is any known flood risk. If so, more detailed investigations will need to be initiated.
I have todaybecome aware that Stirling Law have closed. They conducted my conveyancing in Silsoe for a purchase of a leasehold apartment 12 months ago. How can I check that my home is in my name in the name of the former proprietor?
The quickest method to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Silsoe conveyancing specialists.
How does conveyancing in Silsoe differ for new build properties?
Most buyers of new build property in Silsoe come to us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the house is completed. This is because house builders in Silsoe tend to buy 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 accustomed to new build conveyancing in Silsoe or who has acted in the same development.
Am I best advised to appoint a Silsoe conveyancing lawyer who is local to the property I am purchasing? I have an old university friend who can deal with the legal work however his firm is located 300kilometers drive away.
The benefit of a local Silsoe conveyancing practice is that you can drop in to execute documents, present your ID and apply pressure on them where appropriate. Having local Silsoe know how is a benefit. However it's more important to get someone that will do a good and efficient job. If other friends have instructed your friend and in the main were content that must trump using an unfamiliar Silsoe conveyancing lawyer just because they are round the corner.
Would local authority permission be necessary to split a house into a couple of appartments in Silsoe? This has occurred to a property adjacent to my house in Silsoe and was ignorant of the conversion until it was done.
Planning Consent yes. Building Regulations yes.