My fiance and I are looking to acquire a home in Mersea Island and are in fact using a Mersea Island conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Clydesdale have this afternoon contacted us to advise us that there is now an issue as our Mersea Island conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard for the purchasers' solicitors to also represent the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Mersea Island lawyers, in which case it will likely add costs, and it will likely delay the transaction as you are adding another lawyer into the mix.
Do commercial conveyancing searches reveal impending roadworks that could impact a commercial estate in Mersea Island?
Many commercial conveyancing solicitors in Mersea Island will order a SiteSolutions Highways report as it reduces the time that conveyancers spend in sourcing accurate data on highways that impact buildings and development assets in Mersea Island. The report provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Mersea Island.
For every commercial conveyancing transaction in Mersea Island it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Mersea Island commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not conducted for residential conveyancing in Mersea Island.
How does conveyancing in Mersea Island differ for newly converted properties?
Most buyers of new build premises in Mersea Island contact us having been asked by the seller to sign contracts and commit to the purchase even before the house is constructed. This is because developers in Mersea Island usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Mersea Island or who has acted in the same development.
I was recommended by a few estate agents in Mersea Island to select a solicitor on your site. Is there a financial advantage for Estate Agents to offer your site over and above another?
We don’t offer any commission for sending work in our direction. We thought it would be too underhand to pay a commission because members of the public would think, ‘Why is the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I happen to be an executor of my recently deceased parent's Will, with a bungalow in Mersea Island which is to be sold. The house is unregistered at the Land Registry and I'm told that many EAs will insist that it is completed before they'll move forward. What's the mechanism for this?
In the situation you refer to it seems advisable to seek to register in the names of the personal representative(s) as named in the probate and in their capacity as PRs. HMLR’s online guidance explains how to register for the first time and what is required re the deeds and forms. You would need to include and certified copy of the probate as well and complete the form FR1 to refer to the PRs as the applicant.