Do lawyers request money on account for my conveyancing in Grangetown?
If you are buying a property in Grangetown your lawyer will ask you put them with monies to cover the the cost of the conveyancing searches. Normally this is requested to cover the fees of the conveyancing searches. If any deposit is payable against the purchase price then this will be needed shortly in advance of exchange of contracts. The closing balance that is needed will be payable shortly before completion.
Are all Grangetown Conveyancing Quality Solicitors on the Virgin Money conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. Nevertheless,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitor practices wishing to join their approved list of conveyancing solicitors.
I am due to exchange contracts on my house. I had a double glazing fitted in January 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Kent Reliance are being difficult. The Grangetown solicitor who is on the Kent Reliance conveyancing panel is saying indemnity insurance will be fine but Kent Reliance are insisting on a building regulation certificate. Why do Kent Reliance have a conveyancing panel if they don't accept advice from them?
It is probably the case that Kent Reliance have referred the matter to their valuer. The reason why Kent Reliance 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.
Clydesdale have agreed my home loan in principle, my bid on a property in Grangetown has been accepted, now what?
The property agent will wish to be informed of your conveyancing practitioner's details (ensure that the solicitors are on the lender’s panel). Telephone Clydesdale or the financial adviser and complete any appropriate paperwork. Clydesdale will sellect a valuer who will get in touch with the selling agent or owners to arrange a slot for the valuation to occur. Once carried out (assuming no problems) it takes on average a fortnight to get a mortgage offer. Clydesdale will send the offer to you and your property lawyers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Grangetown.
I have been told that property searches are the primary reason for stalling in Grangetown house deals. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the conclusions of a review by MoveWithUs that conveyancing searches do not figure amongst the top 10 causes of delays during the legal transfer of property. Local searches are unlikely to feature in any slowing down conveyancing in Grangetown.
Me and my brother have a semi-detached Victorian property in Grangetown. Conveyancing lawyer acted for me and Virgin Money. I did a free Land Registry search last week and I saw a couple of entries: the first freehold, another for leasehold under the exact same address. Is it worth asking Virgin Money to clarify?
You should read 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 Grangetown and other areas of the country and poses no real issues for owners other than when they buy they have to account for both freehold and leasehold interests when dealing with buyers. You can also question the situation with your conveyancing lawyer who carried out the work.
Yesterday I discovered that there is a flying freehold issue on a property I put an offer in two weeks back in what was supposed to be a quick, chain free conveyancing. Grangetown is the location of the property. Can you shed any light on this issue?
Flying freeholds in Grangetown are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Grangetown you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Grangetown may ascertain 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.