I am buying a newly constructed apartment in Aldridge and my lawyer is advising me that she is duty bound to the lender to disclose incentives from the seller. I am nearing the developer’s deadline to sign contracts and I have no desire to prolong deal. Is my lawyer right?
You should not exchange unless you have been advised to do so by your solicitor. A precondition to being on a bank panel is to comply with the UK Finance Lenders’ Handbook conditions. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
Please explain the implications if my solicitor is removed from the RBS Solicitor panel ahead of completing my conveyancing in Aldridge?
The first thing to point out is that, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
We have agreed to purchase a house in Aldridge. A rare aspect is that the roof has a solar panel. Yorkshire BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As your lender is Yorkshire BS your lawyer must check the formal instructions set out in Part two of UK Finance Lenders’ Handbook for Yorkshire BS. The CML Handbook sets out minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Yorkshire BS where a lease does not comply with these conditions. The requirements relate to the installation of panels on properties nationwide and is not limited to Aldridge.
The formalities of my purchase has taken place for my property in Aldridge. Conveyancing was of an acceptable standard but I would like to complain about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Department at head office. We understand that complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I was told two weeks ago that my mortgage has been agreed to by Nottingham. Is it usual for Nottingham to only issue the offer once my solicitor in Aldridge is approved on their conveyancing panel? Nottingham have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Nottingham to deal with your lawyer's application to be on the Nottingham conveyancing panel. There's no guarantee that your solicitor will be accepted.
I have a renovated Victorian house in Aldridge. Conveyancing practitioner acted for me and The Royal Bank of Scotland. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, another for leasehold under the exact same property. I'd like to know for sure, how can I find out??
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Aldridge and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the position with your conveyancing lawyer who conducted the purchase.
Am I better off to use a Aldridge conveyancing solicitor who is local to the property I am hoping to buy? An old friend can execute the legal work however his firm is located 300kilometers away.
The primary upside of using a local Aldridge conveyancing practice is that you can attend the office to sign paperwork, hand in your ID and pester them if necessary. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were happy that should trump using an unfamiliar Aldridge conveyancing solicitor just because they are round the corner.