My fiance and I are planning to acquire a property in Totterdown and are in fact using a Totterdown conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Halifax have this morning contacted us to advise us that there is now an issue as our Totterdown conveyancer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Totterdown solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
We are planning to move home in June. Will my conveyancing solicitor call the removal company on the completion day. On a separate note, can you suggest a removal company in Totterdown. Conveyancing lawyer was found before I stumbled across this website.
On the day of completion you can collect the keys from your estate agent but this should only occur when the sellers solicitors inform the agent that the monies to complete are in and the keys can be collected. After that you can advise the removal men that they can start moving you in. As a matter of policy we do not recommend a specific removal company but can assist you in finding a conveyancing in Totterdown or a lawyer that specialises in conveyancing in Totterdown.
Is it the case that all Totterdown 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 governed by the SRA. The majority of lenders do permit licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
Can I be sure that the Totterdown conveyancing solicitor on the Principality panel is any good?
When it comes to conveyancing in Totterdown obtaining recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always recommend that you speak with the solicitor conducting your transaction.
Will commercial conveyancing searches disclose impending roadworks that may affect a commercial land in Totterdown?
Many commercial conveyancing solicitors in Totterdown will perform a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Totterdown. The report provides definitive information 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 Totterdown.
For each commercial conveyancing transaction in Totterdown it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Totterdown commercial conveyancing deals as well as pose a risk to future plans for the site. These searches are not conducted for domestic conveyancing in Totterdown.
I am buying a new build house in Totterdown with a mortgage from The Royal Bank of Scotland. The builders refused to budge the price so I negotiated 6k of additionals instead. The property agent told me not disclose to my solicitor about the deal as it could adversely affect my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Over the last few months I have been searching for a flat up to £235,500 and identified one close by in Totterdown I like with open areas and station nearby, the downside is that it only has 49 years on the lease. There is not much else in Totterdown in this price bracket, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you need a mortgage the shortness of the lease will be problematic. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing owner has owned the property for a minimum of 2 years you may ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term and have £0 ground rent by law. You should consult your conveyancing solicitor about this.
My husband and I are purchasing a four bedroom maisonettein Totterdown with a residential mortgage from a bank. We have a conveyancer in Totterdown however our mortgage company says he's not approved on their "panel". We have to appoint one of the our bank panel firms or stay with our Totterdown conveyancer and pay for one of their panel ones to represent our bank. We feel as though this is unjust; Can we not simply insist that our bank use our Totterdown lawyer?
No, not really. The lender mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the mortgage company's conveyancing panel. Until recently, most mortgage companies had large numbers of law firms on their panels, including almost all conveyancing solicitors in Totterdown : 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. A further alternative is for your solicitors to apply to be on the conveyancing panel for your lender.