Are the BSA planning on creating a searchable register to to identify firms on the Earl Shilton BS conveyancing panel for instance in Norfolk?
Lexsure has not been advised of any plans on the part of the BSA to develop such a register.
Should my lawyer be asking questions about flooding during the conveyancing in Norfolk.
Flooding is a growing risk for solicitors dealing with homes in Norfolk. Some people will acquire a house in Norfolk, fully expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory insurance cover, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Conveyancers are not best placed to impart advice on flood risk, however there are a various checks that may be initiated by the purchaser or by their lawyers which can figure out the risks in Norfolk. The standard completed inquiry forms supplied to a purchaser’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard inquiry of the vendor to discover if the premises has suffered from flooding. In the event that the premises has been flooded in past and is not disclosed by the vendor, then a purchaser may bring a compensation claim resulting from an incorrect reply. A buyer’s solicitors may also carry out an enviro report. This will reveal whether there is a recorded flood risk. If so, further investigations will need to be made.
I'm purchasing a new build house in Norfolk with a loan from Birmingham Midshires. The builders refused to move on the price so I negotiated £7000 of extras instead. The house builders rep advised me not disclose to my conveyancer about this deal as it may adversely affect my mortgage with Birmingham Midshires. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the builder 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.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in two weeks back in what should have been a simple, no chain conveyancing. Norfolk is where the house is located. Can you shed any light on this issue?
Flying freeholds in Norfolk are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Norfolk you would need to get your solicitor to go 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 Norfolk may determine 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 premises.
Do I need to attend the offices of the lender conveyancing panel solicitor to sign the mortgage deed? If so, I will instruct a firm who offer conveyancing in Norfolk so that I can pop in to their offices if necessary.
As opposed to 15 years ago, most lenders no longer require their conveyancing panel solicitor to witness the borrowers signature. You will still be obliged to provide ID Documents and there are still distinct advantages to using a local solicitor, in your case a conveyancing solicitor in Norfolk.