I am considering applying for a Barclays mortgage for purchase of a new build (under development) in Kemp Town with 65 per cent loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Barclays ?
There is nothing to stop you using your solicitor, but Barclays 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.
is it true that all Kemp Town solicitor firms on the Nottingham conveyancing panel are regulated by the SRA?
As a firm of solicitors, in order to be on the Nottingham conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. Many banks do permit licenced conveyancers on their panel in which case such firms would be governed by the CLC.
We had appointed conveyancers with offices in Kemp Town on the Leeds Building Society solicitor panel. They are now charging me a supplemental charge for handling the Leeds Building Society mortgage. Is this a supplemental conveyancing fee specified by Leeds Building Society?
Provided it is contained in their Terms of Engagement or estimate then yes your conveyancing practitioner is entitled to levy a fee for this. This fee is not dictated by Leeds Building Society but by your Kemp Town lawyer. Numerous firms on the Leeds Building Society panel will charge ’dealing with mortgage’ fee but plenty of practices include it on their overall fee.
My offer was accepted on a house in Kemp Town on 4/5/2022, valuation was booked 2 days after, received a clean bill of health. Conveyancer retained, so all that was missing was my mortgage offer. Having made daily calls to Barclays and chasing them on my offer, I have now been told that my offer will not be issued unless the lawyer is on the Barclays conveyancing panel. Are Barclays entitled to hold back the Mortgage pending the lawyer being on the approved list?
Mortgage companies tend not to not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Will our solicitor be making enquiries about flooding during the conveyancing in Kemp Town.
Flooding is a growing risk for solicitors conducting conveyancing in Kemp Town. Plenty of people will buy a property in Kemp Town, fully expectant that at some time, it may be flooded. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or dispose of the premises. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to impart advice on flood risk, however there are a various checks that may be undertaken by the purchaser or by their solicitors which will figure out the risks in Kemp Town. The standard completed inquiry forms supplied to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to discover whether the premises has historically flooded. In the event that flooding has previously occurred which is not revealed by the seller, then a buyer may issue a compensation claim as a result of such an inaccurate reply. The purchaser’s conveyancers should also commission an environmental report. This should reveal if there is a recorded flood risk. If so, more detailed investigations will need to be made.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what should have been a simple, no chain conveyancing. Kemp Town is the location of the property. What do you suggest?
Flying freeholds in Kemp Town are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Kemp Town you must be sure that your lawyer goes through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Kemp Town 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 residence.
Given that I will soon part with over three hundred thousand on a garden flat in Kemp Town I wish to have a conversation with the lawyer concerning thetransaction before giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - we would be happy to talk to you we do not take any clients on without you first talking to the solicitor who will be conducting your conveyancing in Kemp Town.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The law firms that we put you in touch with believe that the fees you are provided with for your conveyancing in Kemp Town should be the amount on the final invoice that you end up paying.