Is the fact that my solicitor in Temple is not on my mortgage company's conveyancing panel that there is a problem with the standard of her work?
It would be unwise to jump to that conclusion. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Temple conveyancing firm and enquire why they are no longer on the approved list for your bank.
It is a dozen years since I bought my home in Temple. Conveyancing solicitors have just been instructed on the sale but I am unable to track down my title documents. Is this a major issue?
Don’t worry too much. Firstly the deeds may be with the mortgage company or they may be in the possession of the conveyancers who acted in the purchase. Secondly in most cases the property will be registered at the land registry and you will be able to prove you own the property by your conveyancing solicitors procuring up to date copy of the land registers. The vast majority of conveyancing in Temple relates to registered property but in the rare situation where your property is not registered it is more problematic but is not insurmountable.
We wish to acquire a newbuild flat in Temple with a homeloan from Nationwide Building Society.We use our Temple conveyancing practitioner but Nationwide Building Society informed us she’s not listed on their approved list of member firms. We have to appoint a Nationwide Building Society panel lawyer or retain our high street solicitor and fork out for one of their panel ones to represent them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, a common one being that lawyers needs to be on the Nationwide Building Society approved list. in the past, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose 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 lawyer to apply to be on the conveyancing panel for Nationwide Building Society
Do I need to pay for insurance to address the risk of chancel repairs when buying a property in Temple?
Unless a previous purchase of the premises completed post 12 October 2013 you could assume that lawyers handling conveyancing in Temple to remain recommending a chancel search and or chancel repair liability policy.
I'm purchasing my first flat in Temple with a loan from Coventry Building Society. The sellers would not budge the amount so I negotiated 6k of extras instead. The sale representative suggested that I not inform my lawyer about the deal as it would affect my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer 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 conveyancing in Temple is completing this Friday, but the owners I am buying off wishes to move out on the Saturday noon. Can I accept such a plan?
It is not possible to complete on a Saturday due to the bank systems aren't operating.