Unfortunately I am unable to travel far from Silverdale. Is there a reason why all Silverdale conveyancing practitioners are not on all lender panels?
Lenders point to the fact that solicitor-led fraud is considered to be responsible for millions of pounds of fraud every year.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It led to lenders purging a number of firms from their books of approved conveyancers .
We are purchasing a property in Silverdale. It might be a silly question but how we can trust a conveyancer? On the day of competition we have to put funds into their account. What is the protection we have from them run away with our money?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
I happen to be the single beneficiary of my late mum's estate with all property in now in my sole name, including the my former home in Silverdale. Conveyancing formalities meant that the Land Registry date was in May. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my property ownership may be regarded the same way as though I had purchased the property in May. Do I have to wait 6 months to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How practical a view lenders take of it, depend on the lender as this obligation is primarily there to pick up on subsales or the quick reselling of property.
When it comes to lenders such as Clydesdale, do Silverdale conveyancers incur an annual charge to be on the list of approved solicitors?
We are unaware of any bank fees to be on their list of approved firms, although some do charge an administration fee to deal with the processing of the conveyancing panel application.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Silverdale. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Silverdale
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Please confirm the Lease plans are architect prepared. Please supply a car parking plan.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a simple, chain free conveyancing. Silverdale is where the house is located. Is there any advice you can impart?
Flying freeholds in Silverdale are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Silverdale you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Silverdale may determine 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'm refinancing my primary home to a buy to let mortgage with Accord Mortgages Ltd and I will use the rest of the raised equity towards another house. The area we are looking at is Silverdale. Will your lawyers be able to act for the two mortgage companies and link together the conveyances?
Do use our search tool on this site to check that the solicitors are on the appropriate lender panels. Assuming that they are your lawyer should be able to connect the two conveyancing matters but you should have a chat with you solicitor and specify your desired outcome and requirements.
As co-executor for the will of my aunt I am disposing of a house in Cardiff but live in Silverdale. My conveyancer (who is 260 miles from merequires that I sign a stat dec ahead of completion. Can you recommend a conveyancing solicitor in Silverdale who can witness and place their company stamp on the document?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily any notary public or qualified solicitor will suffice regardless of whether they are Silverdale based