Is it the case that all Grasmere solicitor firms on the Barclays conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Barclays approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. The majority of lenders do permit licenced conveyancers on their panel in which case such organisation would be governed by the Council of Licensed Conveyancers.
I am buying a property in Grasmere. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender TSB be concerned?
As your lender is TSB your lawyer must check the conveyancing instructions outlined in Section two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and conveyancers are required to report to TSB where a lease does not satisfy these specifications. The conditions relate to the installation of panels on properties countrywide and is not restricted to Grasmere.
I am due to exchange contracts on my flat. I had a double glazing fitted in September 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Leeds Building Society are being problematic. The Grasmere solicitor who is on the Leeds Building Society conveyancing panel is saying indemnity insurance will be fine but Leeds Building Society are requiring 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.
Will our conveyancer be making enquiries about flooding as part of the conveyancing in Grasmere.
The risk of flooding is if increasing concern for lawyers carrying out conveyancing in Grasmere. Some people will buy a house in Grasmere, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Conveyancers are not best placed to impart advice on flood risk, however there are a number of checks that can be initiated by the buyer or by their lawyers which can figure out the risks in Grasmere. The conventional set of property information forms given to a buyer’s solicitor (where the Conveyancing Protocol is adopted) incorporates a usual inquiry of the owner to discover if the premises has suffered from flooding. If the premises has been flooded in past which is not revealed by the vendor, then a buyer may bring a compensation claim as a result of such an incorrect response. The purchaser’s lawyers may also commission an environmental report. This will indicate if there is any known flood risk. If so, further inquiries should be carried out.
How does conveyancing in Grasmere differ for newly converted properties?
Most buyers of new build property in Grasmere approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because developers in Grasmere typically purchase the real estate, 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 conveyancers 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 accustomed to new build conveyancing in Grasmere or who has acted in the same development.
I have been on the look out for a flat up to £245,000 and identified one round the corner in Grasmere I like with a park and transport links nearby, however it's only got 52 years unexpired on the lease. There is not much else in Grasmere suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan the shortness of the lease may be problematic. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you may request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this matter.
I'm refinancing my current property to a BTL mortgage with The Mortgage Works and I will use the rest of the raised equity as a deposit on another property. The area we are looking at is Grasmere. Will your conveyancers be able to act for both sets of mortgage companies and tie in the transactions?
Make use of our search tool on this page to ensure that the conveyancers are approved by both mortgage companies. Having checked that they are the solicitor should be able to simultaneously deal with the two deals but you should have a chat with you conveyancer and specify your desired outcome and needs.