Am I correct in assuming that the fact that my conveyancer in Looe is not on my lender's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the Looe conveyancing practice and enquire why they are no longer on the approved list for your mortgage company.
Completed the sale of my flat in Looe last April yet the purchaser is texting me to say her lawyer needs to hear from mysolicitor. What should have happened now that I have sold?
After completion of your house sale your conveyancer is duty bound to deliver the transfer documentation and all additional paperwork to the buyer’s lawyers. Where appropriate, your lawyer should also evidence that the legal charge in favour of the lender has been repaid to the buyers lawyers. There are no post completion steps unique to conveyancing in Looe.
I'm purchasing my first flat in Looe with a mortgage from Godiva Mortgages Ltd. The sellers would not reduce the price so I negotiated five thousand pounds worth of fixtures and fittings instead. The sale representative told me not to tell my conveyancer about the extras as it will impact my loan with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in last month in what should have been a quick, no chain conveyancing. Looe is where the house is located. Is there any guidance you can give?
Flying freeholds in Looe are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Looe you must be sure that your lawyer goes through the deeds very carefully. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Looe 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 property.
Hoping to buy a property located in Looe and I am already nervous. I couldn't find anything specific about Looe. Conveyancing will be needed in due course but do you know about the Looe area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Looe. In the meantime here are some basic statistics that we found