I am considering applying for a Nationwide mortgage for purchase of a newly converted (under development) in Cambridgeshire with 60% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nationwide ?
In theory, you could use a solicitor that is not on the Nationwide conveyancing panel, but Nationwide would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
What does a local search tell me concerning the property I am purchasing in Cambridgeshire?
Cambridgeshire conveyancing often commences with the ordering local authority searches directly from your local Authority or via a personal search company for example Searchflow The local search is essential in every Cambridgeshire conveyancing purchase; that is if you don’t want any nasty surprises after you move into your new home. The search should provide information on, amongst other things, details on planning applications relevant to the premises (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of 13 subject headings.
The estate agent has sent us the confirmation of our purchase of a new build flat in Cambridgeshire. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Cambridgeshire
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Please confirm the Lease plans are architect prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
As co-executor for the estate of my aunt I am selling a house in Cardiff but live in Cambridgeshire. My conveyancer (based 235 miles awayhas requested that I execute a statutory declaration prior to completion. Can you recommend a conveyancing practitioner in Cambridgeshire to witness and place their company stamp on the document?
Technically speaking you should not be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are based in Cambridgeshire
Our solicitor in Cambridgeshire has uncovered a a legal deficiency with the lease for the property we are purchasing in Cambridgeshire. The other side have put forward title insurance as a solution. We are content with insurance and will cover the costs. Our solicitor has advised that as he is on the mortgage company conveyancing panel he must check that the lender is happy with this solution. Are we the client or is the mortgage company?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the mortgage company are the client. A precondition to being on the mortgage company approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender 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 lawyer will have no choice but to discontinue acting for you.