I can't travel far from Nayland. Is there a reason why all Nayland property lawyers aren't automatically on all lender panels?
Mortgage companies highlight the fact that solicitor-led fraud is thought to be responsible for millions of pounds of fraud annually.The removal of law firms from lender panels started with the rise in mortgage fraud, which prompted a thematic review by the FSA in 2011. Its outcome included recommendations for lending institutions to review their conveyancing panels, which triggered a major policy change in the sector. It led to banks and building societies removing less reputable firms from their official list of approved lawyers .
Will my lawyer be raising enquiries concerning flooding as part of the conveyancing in Nayland.
Flooding is a growing risk for lawyers conducting conveyancing in Nayland. There are those who purchase a house in Nayland, completely aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Solicitors are not best placed to offer advice on flood risk, however there are a various searches that may be initiated by the purchaser or by their conveyancers which should figure out the risks in Nayland. The standard information given to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual question of the vendor to find out if the premises has historically flooded. If the property has been flooded in past and is not revealed by the vendor, then a purchaser could bring a claim for damages resulting from an incorrect reply. A purchaser’s lawyers will also carry out an enviro search. This will reveal if there is a recorded flood risk. If so, further investigations will need to be carried out.
I used Stirling Law several years ago for my conveyancing in Nayland. I now require my papers however the law firm is no longer operating. What do I do?
Do contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Nayland of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
How does conveyancing in Nayland differ for newly converted properties?
Most buyers of new build residence in Nayland come to us having been asked by the builder to sign contracts and commit to the purchase even before the premises is finished. This is because new home sellers in Nayland tend to acquire 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 conveyancers 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 used to new build conveyancing in Nayland or who has acted in the same development.
At last I have had an offer on an flat in Nayland agreed to, the owner does however have a connected purchase. The owners have offered on a flat, but it’s not yet tied up, and has viewings of other flats booked. I have chosen a nearby conveyancing lawyer in Nayland. What should be my next step? At what stage do I apply for the mortgage with RBS?
It is understandable to have concerns where there is a chain as you are unlikely to want to incur costs prematurely (home loan application is approx one thousand pounds, then survey, Nayland conveyancing search fees, etc). First, you should check that your conveyancing practitioner is on the RBS conveyancing panel. Concerning the subsequent stages this very much depends on the uniqueness of your transaction, desire for this property and on the state of the market. In a hot market the majority of home buyers will apply for a home loan with RBS and pay for the valuation and only if it comes back ok would they pay their solicitor to press on with searches.