Unfortunately I am unable to travel far from Penn and Ettingshall. What is the rationale as to why all Penn and Ettingshall conveyancing practitioners aren't included on all bank panels?
Pre- 2008 most banks exhibited an attitude to risk which differs from the current day. The FSA in 2010 instigated a thematic review into mortgage fraud which in summary warned lenders: know the lawyers on your panel. Accordingly, lenders have subsequently looked to extract more information from law firms about their operations and the individuals who work for them and set certain criteria such as completing a minimum number of transactions. Many law practices have found themselves excluded from lender panels even though they had 100% healthy track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the minimum amount of transactions the mortgage companies set.
My wife and I are approaching an exchange on a flat in Penn and Ettingshall and my mum and dad have sent the 10% deposit to my solicitor. I am now advised that as the deposit has not come from me my conveyancing practitioner needs to disclose this to my mortgage company. Apparently, in also acting for the bank he must inform them that the balance of the purchase price is not just from me. I advised the bank about my parents' contribution when I applied for the home loan, so is it really appropriate for this now to delay the deal?
The property lawyer is obliged to check with lender to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your bank if you agree, failing which, your lawyer must cease to continue acting.
Will commercial conveyancing searches reveal proposed roadworks that could impact a commercial property in Penn and Ettingshall?
Many commercial conveyancing solicitors in Penn and Ettingshall will execute a SiteSolutions Highways report as it dramatically cuts the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Penn and Ettingshall. The search result provides definitive information 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 Penn and Ettingshall.
For each commercial conveyancing transaction in Penn and Ettingshall it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately may cause delays to Penn and Ettingshall commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Penn and Ettingshall.
Despite weeks of looking the Title Certificate and documents to our house can not be found. The conveyancers who did the conveyancing in Penn and Ettingshall 10 years ago have long since closed. What are my options?
You no longer need to have the physical official documentation to prove you are the registered proprietor of land or premises, given that the Land Registry have everything they need in a digital format.
Due to the guidance of my in-laws I had a survey completed on a house in Penn and Ettingshall before retaining lawyers. I have been informed that there is a flying freehold overhang to the house. Our surveyor has said that some banks may not issue a loan on a flying freehold property.
It varies from the lender to lender. Santander has different requirements from Birmingham Midshires. If you call us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Penn and Ettingshall. Conveyancing may be slightly more expensive based on your lender's requirements.