I am hoping to receive a mortgage offer from Santander. I intend to instruct a Licensed Conveyancer in Ledbury. Does the Santander Solicitor panel exclude Licensed Conveyancers?
The Santander conveyancing panel is, like many other lenders, associated to the CML or BSA, open to Licensed Conveyancers regulated by the Council of Licensed Conveyancers.
The sellers of the house we are hoping to buy have instructed a conveyancing practitioner in Ledbury who has recommended a preliminary agreement with a payment two thousand pounds. Is it wise to enter into such agreements?
Exclusivity contracts are contracts between a property vendor and purchaser granting the buyer a ‘clear field’ to the sale of the property for a certain period of time. For all intents and purposes, a lock out agreement is a contract stating that you will have a contract at a later time being the contract for the actual sale. It is generally utilised for buyer assurance though in many situations, the vendor may enjoy an upside from such agreements as well. There are many pros and cons to using them but you should to check with your lawyer but note that it may end up costing you more in conveyancing fees. For this these agreements are not popular when it comes to conveyancing in Ledbury.
Do the Building Society Association intend to launch a online directory to list practices on the Darlington Building Society conveyancing panel for instance in Ledbury?
Lexsure has not been advised of any plans on the part of the BSA to develop such a register.
Should my solicitor be raising questions concerning flooding as part of the conveyancing in Ledbury.
Flooding is a growing risk for conveyancers conducting conveyancing in Ledbury. Plenty of people will purchase a house in Ledbury, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a house is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or sell the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Conveyancers are not qualified to impart advice on flood risk, however there are a number of searches that may be carried out by the buyer or on a buyer’s behalf which should figure out the risks in Ledbury. The conventional set of completed inquiry forms given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a usual question of the seller to discover whether the property has ever been flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a purchaser may commence a legal claim for losses as a result of such an inaccurate reply. A purchaser’s conveyancers may also carry out an environmental report. This should disclose whether there is a recorded flood risk. If so, more detailed investigations should be conducted.
Due to the advice of my in-laws I had a survey completed on a property in Ledbury ahead of instructing solicitors. I have been advised that there is a flying freehold element to the property. My surveyor advised that some lenders may refuse to give a loan on a flying freehold house.
It depends who your proposed lender is. Bank of Scotland has different instructions from Halifax. Should you wish to telephone us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Ledbury. Conveyancing may be slightly more expensive based on your lender's requirements.