My wife and I are due to exchange on the purchase of a house in Marshfield but as a consequence of wreckage from a small fire at the property I have managed to agree recompense from the vendor in the sum of £3k in the form of a deduction in the price. I had intended this to be dealt with as part of a side agreement however Lloyds are not allowing this. Should they have been notified?
Your conveyancer that is on a Lloyds conveyancing panel is duty bound to inform Lloyds of any variations to the purchase price. If you prohibit your conveyancer to report the reduction to Lloyds then they would have to discontinue acting for you. In addition, Lloyds and you would have to appoint a new conveyancer for your conveyancing in Marshfield.
I had intended to instruct a property lawyer in Marshfield for our house move. Our financial adviser has since advised us that our mortgage company Yorkshire Building Society won't deal with them. Surely this is unfair competition?
Before the recession most lenders had a different appetite for risk. Almost all Marshfield conveyancing firms would have been on many mortgage company panels. The financial services regulator in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms concerning their operations and their employees as well as set certain criteria such a completing on a minimum amount of conveyancing. Many Marshfield conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Marshfield is amongst the many locations where the conveyancers we recommend are are approved Yorkshire Building Society.
This question may be naive but I am wet behind the ears as FTB of a garden flat in Marshfield. Do I pick up the keys to the premises on the completion date from my conveyancer? If this is the case, I will appoint a local conveyancing solicitor in Marshfield?
On the day of completion you will not be required to attend the conveyancers office in Marshfield. Your solicitors will electronically transfer the purchase money to the owner’s solicitors, and once they have received this, you will be called to collect the keys from the property Agents and start moving into the property. This tends to happen between 1 and 3pm.
About to purchase maisonette in Marshfield. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Skipton conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Marshfield lawyer is on the Skipton conveyancing panel.
After shopping around on the internet I have found a Marshfield property lawyer having checked that they are on the Nationwide conveyancing panel. Does my lawyer arrange the survey of the property?
Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide 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. Your conveyancing practitioner will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Marshfield postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Marshfield.
Despite weeks of looking the Title Certificate and documents to my property can not be found. The lawyers who dealt with the conveyancing in Marshfield 10 years ago no longer exist. What are my next steps?
These day there are copies made of almost everything, and your solicitor should be aware exactly where to locate all the relevant documentation so you can purchase or sell your property without a hitch. If copies are not available, your lawyer can put in place insurance or indemnities protecting you against possible claims on the premises.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, no chain conveyancing. Marshfield is where the house is located. Is there any advice you can give?
Flying freeholds in Marshfield are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Marshfield you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Marshfield may decide 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.