I can't travel far from Keswick. Please spell out why all Keswick property lawyers aren't included on all mortgage company panels?
Banks point to the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud every year.The removal of law firms off of lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its conclusions included recommendations for lenders to review their conveyancing panels, which kicked off a major policy change in the sector. This led to banks and building societies removing less reputable firms from their books of approved property lawyers .
Last December we completed a house move in Keswick. We have noticed several issues with the house which we suspect were missed in the conveyancing searches. Do we have any recourse? Can you clarify the nature of searches that should have been ordered as part of conveyancing in Keswick?
It is not clear from the question as to the nature of the problems and if they are specific to conveyancing in Keswick. Conveyancing searches and investigations initiated as part of the legal transfer of property are supposed to help avoid problems. As part of the process, a seller completes a questionnaire called a Seller’s Property Information Form. answers proves to be inaccurate, then you may have a claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Keswick.
We're in Keswick, First time buyers purchasing with a mortgage (lender is Nottingham , and our lawyer is on the Nottingham conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Nottingham conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
It has been 2 months following my purchase conveyancing in Keswick took place. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Yesterday I discovered that there is a flying freehold element on a property I have offered on a fortnight ago in what should have been a straight forward, chain free conveyancing. Keswick is where the house is located. What do you suggest?
Flying freeholds in Keswick are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Keswick you must be sure that your lawyer goes 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 Keswick 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 residence.