Is it the case that all Isle Of Wight solicitors on the Aldermore conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Aldermore conveyancing panel they would need to be regulated by the SRA. The majority of mortgage companies do list licenced conveyancers on their panel and in such a situation the practice would be overseen by the Council of Licensed Conveyancers.
I am due to exchange contracts on my house. I had a double glazing fitted in February 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Virgin Money are being problematic. The Isle Of Wight solicitor who is on the Virgin Money conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Virgin Money are requiring a building regulation certificate. Why do Virgin Money have a conveyancing panel if they don't accept advice from them?
It is probably the case that Virgin Money have referred the matter to their valuer. The reason why Virgin Money 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.
After shopping around on the internet I have found a Isle Of Wight conveyancer having checked that they are on the TSB conveyancing panel. Does my lawyer arrange the survey of the property?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. You may wish to consider appointing your own Isle Of Wight surveyor to carry out a survey or prepare a home buyers report on the property. It is up to you to satisfy yourself that the property is structurally sound before you buy it. If the survey or report reveals that building work is needed, you should tell your solicitor. You may wish to renegotiate with the seller.
Should commercial conveyancing searches reveal planned roadworks that could impact a commercial premises in Isle Of Wight?
Many commercial conveyancing solicitors in Isle Of Wight will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in researching accurate data on highways that impact buildings and development assets in Isle Of Wight. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Isle Of Wight.
For each commercial conveyancing transaction in Isle Of Wight it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could cause delays to Isle Of Wight commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Isle Of Wight.
Due to the advice of my in-laws I had a survey completed on a property in Isle Of Wight before appointing lawyers. I have been told that there is a flying freehold element to the property. Our surveyor has said that some mortgage companies tend not issue a loan on a flying freehold property.
It varies from the lender to lender. HSBC has different requirements from Birmingham Midshires. If you contact us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Isle Of Wight. Conveyancing may be slightly more expensive based on your lender's requirements.
I am a fortnight into a freehold purchase having been recommend to a firm by the selling agent to execute conveyancing in Isle Of Wight. We are not happy. Can you help me find new conveyancers?
They would have to be really bad to suggest replacing them. Has the loan offer been generated? In the event that it has you must advise them of the new conveyancer and ensure the mortgage documents are re-sent. Your new conveyancer should be on the lenders approved list to avoid supplemental fees and delays. That should be your first question of the new solicitors. The search tool can assist you in finding a bank approved lawyer for your home move in Isle Of Wight
Do I cancel the direct debit for my mortgage with RBS as soon as a completion date for my sale in Isle Of Wight has been agreed?
No, you must maintain meeting any mortgage sums to RBS pending the mortgage being paid off from the proceeds of sale as part of your Isle Of Wight conveyancing.