Is the fact that my solicitor in Wadebridge is not identified on my mortgage company's conveyancing panel that there is a problem with the quality of her conveyancing?
That is more than likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent 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 lawyer 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 Wadebridge conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
As someone not used to conveyancing in Wadebridge what is your top tip you can give me for the legal transfer of property in Wadebridge
You may not hear this from too many lawyers but conveyancing in Wadebridge and elsewhere in England and Wales is often a confrontational process. In other words, when it comes to conveyancing there is lots of room for confrontation between you and other parties involved in the ownership transfer. For instance, the seller, property agent and sometimes the mortgage company. Selecting a solicitor for your conveyancing in Wadebridge should not be taken lightly as your conveyancer is your adviser, and is the ONLY party in the process whose interest is to protect your best interests and to keep you safe.
On occasion a potential adversary will attempt to persuade you that you should follow their advice. For instance, the estate agent may claim to be helping by claiming that your solicitor is dragging his heels. Or your mortgage broker may advise you to do take action that is contrary to your solicitors advice. You should always trust your lawyer above all other parties when it comes to the legal transfer of property.
I have a mortgage with TSB for my property in Wadebridge. Conveyancing was finalised a year ago. In the event that I decide to rent out the flat and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform TSB?
Your original mortgage agreement with TSB will provide that you need their approval before renting your property as this is likely to be a breach of TSB’s mortgage conditions. It may be that TSB will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact TSB directly. You need not do this via a TSB conveyancing panel firm.
It is unclear whether my bank requires a lease extension. I have called into my local Wadebridge bank branch on various occasions and was advised it wasn't a problem and they would lend. My Wadebridge conveyancing solicitor - who is on the bank conveyancing panel- called to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
The conveyancing practitioner has to follow the Council of Mortgage Lenders’ Handbook Part 2 specifications for your lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the mortgage company to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I am due to exchange contracts on my flat. I had a double glazing fitted in March 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, RBS are being a right pain. The Wadebridge solicitor who is on the RBS conveyancing panel is recommending indemnity insurance as a solution but RBS are requiring a building regulation certificate. Why do RBS have a conveyancing panel if they don't accept advice from them?
It is probably the case that RBS have referred the matter to their valuer. The reason why RBS 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.
Are there restrictive covenants that are commonly picked up during conveyancing in Wadebridge?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Wadebridge. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Do I need to be suspicious by brokers that I am dealing with are suggesting an online conveyancing firm rather than a local Wadebridge conveyancing practice?
As is the case with many service providers, often input from relatives can be extremely useful or valuable. Nevertheless there are numerous people with a keen interest in a conveyancing deal; estate agents, financial adviser and banks may recommend lawyers to use. On occasion these lawyers might be known to one of the organisations as being good in their field, but occasionally there exists a commercial relationship behind the recommendation. You are free to choose your own lawyer. Don't forget that some mortgage providers have an approved list of lawyers you must use for the lender related work in your transaction.
Is it the case that all Wadebridge legal practices on every bank conveyancing panel?
The Lexsure search tool on this page may be of use or you can go into your local lender branch in Wadebridge. Chances are that they will be in a position to recommend some reputable conveyancing solicitors in Wadebridge