Will my conveyancing lawyers need to check that the building insurance when buying a house in Long Stratton. My lender is Nationwide Building Society

Nationwide Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 5/5/2024, the requirements read as follows :

When it comes to lenders such as Aldermore, do Long Stratton lawyers face a yearly amount to be on the list of approved solicitors?

We are unaware of any bank fees to be on their panel, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.

is it true that all Long Stratton solicitor practices on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?

As a firm of solicitors, in order to be on the UBS approved list of solicitors they would need to be regulated by the SRA. The majority of lenders do list licenced conveyancers on their panel in which case such firms would be governed by the CLC.

Aldermore have agreed my mortgage in principle, my offer on a apartment in Long Stratton has been agreed to, what happens next?

Your estate agent will need to be advised as to your solicitor's details (be sure the lawyers are on the bank’s approved list). Telephone Aldermore or your financial adviser and complete any outstanding documentation. Aldermore will sellect a valuer who will get in contact with the estate agent or vendor to schedule a slot for the valuation to occur. Once conducted (assuming no problems) it takes approximately ten days to receive the mortgage offer. Aldermore will issue the offer to you and your conveyancers. The legal work will then take it’s course according the nature and complexity of the conveyancing in Long Stratton.

I am downsizing from our house in Long Stratton and the buyers lawyers are claiming that there is a possibility that the property was built on contaminated land. A high street Long Stratton conveyancer would know this is not the case. It does beg the question why the buyers used a nationwide conveyancing firm rather than a conveyancing solicitor in Long Stratton. We have lived in Long Stratton for many years we know that this is a non issue. Should we contact our local Authority to seek clarification that the buyers are looking for.

It would appear that you have a conveyancing solicitor currently acting for you. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)

How does conveyancing in Long Stratton differ for newly converted properties?

Most buyers of new build premises in Long Stratton contact us having been asked by the builder to sign contracts and commit to the purchase even before the property is constructed. This is because new home sellers in Long Stratton usually buy the real estate, 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 conveyancing solicitors 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 accustomed to new build conveyancing in Long Stratton or who has acted in the same development.

We are in the process of buying a house in Long Stratton. Could our conveyancer keep our transaction price confidential from sites such as Rightmove. what can I do to make sure this is not noted?

The Land Registry as a matter of law bound to note price paid data on the official title for residential properties nationwide including properties in Long Stratton. The Title Register is a public document, so HM Land Registry would be breaching their statutory obligations if they failed to grant access to the register.

In essence you can make a request of HMLR to withhold the price paid entry however the answer would be in the negative.