I am considering applying for a Coventry BS mortgage for purchase of a new build (under development) in Fallowfield with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Coventry BS ?
There is nothing to stop you using your solicitor, but Coventry BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We were going to get a DIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Fallowfield solicitors on the Kent Reliance conveyancing panel, or is it better to go independently?
You will need to appoint Fallowfield solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
It is unclear whether my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my Fallowfield building society branch on various occasions and was told they are content with the situation and they would lend. My Fallowfield conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend based on their specific requirements. I simply don't know who is right.
The conveyancing practitioner has to comply with the CML Handbook section two conditions for your lender. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
I am due to exchange contracts on my apartment. I had a double glazing fitted in February 2008, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's mortgage company, Leeds Building Society are being a right pain. The Fallowfield solicitor who is on the Leeds Building Society conveyancing panel is recommending indemnity insurance as a solution but Leeds Building Society are insisting on a building regulation certificate. Why do Leeds Building Society have a conveyancing panel if they don't accept advice from them?
It is probably the case that Leeds Building Society have referred the matter to their valuer. The reason why Leeds Building Society 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.
How does conveyancing in Fallowfield differ for newly converted properties?
Most buyers of new build premises in Fallowfield approach us having been asked by the developer to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Fallowfield typically purchase the land, 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 property lawyers 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 used to new build conveyancing in Fallowfield or who has acted in the same development.
I've recently found out that there is a flying freehold element on a property I have offered on two weeks back in what should have been a quick, chain free conveyancing. Fallowfield is the location of the property. What do you suggest?
Flying freeholds in Fallowfield are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Fallowfield you would need to get your solicitor to go through the deeds thoroughly. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Fallowfield 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 property.
Taking into account that I will soon part with £400,000 on 3 bedroom house in Fallowfield I wish to talk to a lawyer regarding thehouse move before appointing the firm. Is this something that you can arrange?
Absolutely - we would be delighted to talk to you we do not take any clients on without you speaking to the solicitor who will be doing your conveyancing in Fallowfield.There is no ‘factory style conveyancing’ - each client is an important individual, not a matter number. The solicitors that we put you in touch with believe that the figure you are quoted for your conveyancing in Fallowfield should be the figure that you are charged.