I am progressing with the sale of my maisonette in Walderslade and the EA has just called to warn that the buyers are swapping law firm. The excuse is that the mortgage company will only work with property lawyers on their conveyancing panel. Why would a leading lender only deal with specific law firms rather the firm that they want to choose for their conveyancing in Walderslade ?
Lenders have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lenders point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
It is is a decade since I purchased my house in Walderslade. Conveyancing solicitors have just been retained on the sale but I am unable to locate the title documents. Is this a major issue?
Don’t worry too much. First the deeds may be kept by the lender or they could be in the possession of the conveyancers who oversaw your purchase. Secondly the likelihood is that the title will be registered at the land registry and you will be able to establish that you own the property by your conveyancing lawyers acquiring current official copies of the land registers. The vast majority of conveyancing in Walderslade involves registered property but in the unlikely event that your property is not registered it is more of a problem but is resolvable.
My wife and I are buying a house in Walderslade. I might seem paranoid but how we can trust a solicitor? On the day of competition we will need to put money into their account. What protection do we have from them run away with our deposit?
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 only beneficiary of my late mum's will and I have everything in my name now, including the my former home in Walderslade. The Walderslade property was put into my name in August. I now wish to sell up. I understand that there is a CML six month 'rule', which means that my property ownership may be considered the same way as though I had purchased the house in August. Do I have to wait half a year to sell?
The CML handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you could be caught by that. many banks would take a pragmatic view as this requirement chiefly exists to pick up on subsales or the flipping of properties.
Can I be sure that the Walderslade conveyancing solicitor on the Santander panel is any good?
When it comes to conveyancing in Walderslade seeking recommendations is a sensible 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 advertising the lowest fees. We would always advocate that you speak with the solicitor conducting your transaction.
Will our solicitor be making enquiries concerning flooding during the conveyancing in Walderslade.
Flooding is a growing risk for lawyers dealing with homes in Walderslade. Some people will purchase a house in Walderslade, fully expectant that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or dispose of the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, however there are a various checks that may be undertaken by the purchaser or on a buyer’s behalf which can figure out the risks in Walderslade. The standard property information forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to find out whether the property has historically flooded. If the residence has been flooded in past which is not disclosed by the vendor, then a buyer may commence a legal claim for losses stemming from an misleading reply. A purchaser’s conveyancers may also conduct an enviro report. This will higlight if there is a recorded flood risk. If so, more detailed investigations should be initiated.
I am buying my first flat in Walderslade with the aid of help to buy. The sellers refused to budge the amount so I negotiated five thousand pounds worth of extras instead. The property agent told me not to tell my conveyancer about this extras as it could put at risk my mortgage with Nottingham Building Society. 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.
In what way does the Landlord & Tenant Act 1954 affect my commercial property in Walderslade and how can you help?
The particular law that you refer to gives a safeguard to commercial lessees, giving them the legal entitlement to make a request to court for a renewal lease and continue in occupation when the lease comes to an end. There are limited grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and assist with commercial conveyancing in Walderslade