My IFA says he needs my Ainsdale law firm’s panel reference for the Nationwide conveyancing panel. How do I find this out. I have called my local Ainsdale branch but they cant find it on their system.
Have you tried speaking to your Ainsdale solicitor about this?. They keep a central record lender panel numbers.
My lawyer has uncovered a a legal deficiency with the lease for the apartment we are buying in Ainsdale. The other side have put forward defective title insurance as a solution. We are happy with insurance and will cover the costs. Our lawyer says that he must ensure that the mortgage company is willing to move forward with this solution. Who is the client here, us or the mortgage company ?
The short answer to your last question is that, notwithstanding the risk of a conflict of interest, you and the bank are the client. Your conveyancer must comply with the UK Finance Lenders’ Handbook conditions. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects with the lease so that the mortgage company can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected. Should you refuse to allow your lawyer to make the appropriate notification then your conveyancer will have no choice but to discontinue acting for you.
Me and my partner are purchasing a house in Ainsdale. It might be a silly question but how we can trust a lawyer? On the day of competition we will need to send money into their account. What is the protection we have from them run away with our money?
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.
When it comes to mortgage companies such as Barclays, do Ainsdale conveyancing practitioners have to pay a fee to be on the list of approved solicitors?
We are unaware of any bank fees to register on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
Virgin Money have agreed my mortgage in principle, my offer on a apartment in Ainsdale has been agreed to, now what?
The estate agent will wish to be advised as to your conveyancer's details (ensure that the solicitors are on the lender’s approved list). Call up Virgin Money or the broker and complete any outstanding paperwork. Virgin Money will sellect a valuer who will get in contact with the estate agent or owners to arrange a slot for the valuation to occur. Once conducted (assuming no problems) it takes about a week for the mortgage offer to be issued. Virgin Money will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Ainsdale.
I have justbecome aware that Arc property Solicitors have closed. They carried out my conveyancing in Ainsdale for a purchase of a leasehold flat 10 months ago. How can I be sure that the property is in my name in the name of the former proprietor?
The quickest way to check if the premises is in your name, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ainsdale conveyancing specialists.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a quick, chain free conveyancing. Ainsdale is the location of the property. Can you shed any light on this issue?
Flying freeholds in Ainsdale are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Ainsdale you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Ainsdale may determine that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.