My fiance and I are planning to buy a property in Chiseldon and have appointed a Chiseldon conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. Coventry Building Society have this afternoon contacted us to inform me that there is now an issue as our Chiseldon solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Chiseldon solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
I am due to complete on the purchase of a property in Chiseldon but as a result of damage from the recent storms I have managed to agree recompense from the current proprietors in the sum of £2k by way of a deduction in the price. This was going to be dealt with as part of amending the contract yet Aldermore will not permit this. Why were they notified?
The conveyancing practitioner that is on a Aldermore approved list is required to inform Aldermore of any amendments to the sale price. If you were to refuse your solicitor to report the reduction to Aldermore then they would have to discontinue acting for you. In addition, Aldermore and you would have to appoint a new lawyer for your conveyancing in Chiseldon.
We previously appointed conveyancing lawyers with offices in Chiseldon on the Skipton solicitor panel. They have just billed me an additional charge for the legal aspects of the Skipton mortgage. Is this an additional conveyancing fee specified by Skipton?
Provided it is contained in their Terms of Engagement or Quote then yes your conveyancer can levy a fee for this. This fee is not set by Skipton but by your Chiseldon lawyer. Plenty of firms on the Skipton panel will levy an ‘acting for lender’ fee and others do not.
We were going to get a DIP from Yorkshire BS this week so we can work out what to offer on a property we like as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Yorkshire BS recommend any Chiseldon solicitors on the Yorkshire BS conveyancing panel, or is it better to go independently?
You will need to appoint Chiseldon solicitors independently although you'll need to choose one on the Yorkshire BS conveyancing panel. The solicitor represents both you and Yorkshire BS through the process.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Coventry BS are being a right pain. The Chiseldon solicitor who is on the Coventry BS conveyancing panel is saying indemnity insurance will be fine but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS 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.
The deeds to my home can not be found. The conveyancers who conducted the conveyancing in Chiseldon 10 years ago no longer exist. What do I do?
Nowadays there are duplicates made of almost everything, and your conveyancer will be aware precisely where to look for all the relevant documentation so you may purchase or sell your house without any difficulty. If copies are not available, your lawyer can arrange cover in the form of insurance or indemnities protecting you against possible claims on your property.
I am looking for a leasehold apartment up to £245,000 and found one close by in Chiseldon I like with amenity areas and station nearby, however it only has 61 years on the lease. I can't really find anything else in Chiseldon suitable, so just wondered if I would be making a mistake acquiring a short lease?
If you require a mortgage that many years may be an issue. Discount the offer by the anticipated lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least twenty four months you could ask them to commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.