I am not well enough to travel far from Waolstenholme. What is the rationale as to why all Waolstenholme solicitors aren't included on all mortgage company panels?
Banks highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The dismissal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the Financial Services Authority in 2011. Its conclusions included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. This resulted in banks and building societies purging a number of firms off their panel of approved conveyancers .
My wife and I are soon to exchange buying a house in Waolstenholme but as a result of wreckage from the recent storms I have was able negotiate compensation from the owner in the sum of £3k taking the form of a deduction in the price. This was going to be dealt with as part of a side agreement but Nationwide are not allowing this. Why were they involved?
Your conveyancing practitioner that is on a Nationwide approved list is duty bound to disclose to Nationwide of any changes to the sale price. If you were to refuse your conveyancer to notify the reduction to Nationwide then they would have to discontinue acting for you. In addition, Nationwide and you would have to appoint a new conveyancing practitioner for your conveyancing in Waolstenholme.
We're in Waolstenholme, First timers buying with a mortgage (lender is Nottingham , and our solicitor is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
A friend pointed out to me me that in buying a property in Waolstenholme there could be various restrictions as to what one can do in terms of external changes to the property. Is this right?
We are aware of a number of properties in Waolstenholme which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Waolstenholme should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am selling my apartment. I had a double glazing fitted in April 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, TSB are being a right pain. The Waolstenholme solicitor who is on the TSB conveyancing panel is saying indemnity insurance will be fine but TSB are requiring a building regulation certificate. Why do TSB have a conveyancing panel if they don't accept advice from them?
It is probably the case that TSB have referred the matter to their valuer. The reason why TSB 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.
Intending to buy a apartment in Waolstenholme. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Waolstenholme lawyer is on the Bank of Ireland conveyancing panel.
How does conveyancing in Waolstenholme differ for new build properties?
Most buyers of new build residence in Waolstenholme contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is finished. This is because builders in Waolstenholme tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Waolstenholme or who has acted in the same development.
My step-father has urged me to instruct his conveyancing solicitors in Waolstenholme. Should I choose my own solicitor?
No doubt the best way to select a conveyancing solicitor is to get referrals from friends or relatives who have experience in using the firm that you are are thinking of instructing.