My partner and I are nearing an exchange on a property in Rhiwbina and my parents have sent the 10% deposit to my lawyer. I am now advised that as the deposit has not come from me my lawyer needs to make a notification to my mortgage company. I am advised that, 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 lender regarding my parents' contribution when I applied for the home loan, so is it really appropriate for this now to be an issue?
The conveyancing practitioner is legally required to clarify with the bank to ensure that they understand that the balance of the purchase price is not from your own funds. The solicitor can only disclose this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.
Please explain the implications if my solicitor is expelled from the Nottingham Solicitor panel ahead of completing my conveyancing in Rhiwbina?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is it the case that all Rhiwbina conveyancing solicitors on the TSB conveyancing panel are governed by the SRA?
As solicitors, in order to be on the TSB approved list of solicitors they would need to be governed by the Solicitors Regulatory Authority. Many mortgage companies do allow licenced conveyancers on their panel and in such a situation the organisation would be regulated by the CLC.
I am due to exchange contracts on my house. I had a double glazing fitted in June 2007, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Coventry BS are being a right pain. The Rhiwbina solicitor who is on the Coventry BS conveyancing panel is recommending indemnity insurance as a solution but Coventry BS are insisting on a building regulation certificate. Why do Coventry BS have a conveyancing panel if they don't accept advice from them?
It is probably the case that Coventry BS have referred the matter to their valuer. The reason why Coventry BS may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Aldermore have agreed my mortgage in principle, my bid on a property in Rhiwbina has been agreed to, what happens next?
The property agent will wish to be advised as to your property lawyer's details (make sure the solicitors are on the lender’s approved list). Telephone Aldermore or the broker and finish off any relevant documentation. Aldermore will appoint a valuer who will get in contact with the selling agent or owners to book an appointment. Once carried out (assuming no problems) it takes approximately a fortnight for the mortgage offer to be issued. Aldermore will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Rhiwbina.
I am buying a house and the solicitor has referenced Chancel Repair for which the property may be obligated to pay given it’s proximity to the area of such a church. She has mentioned insurance. Is this strictly necessary for conveyancing in Rhiwbina
Unless a previous acquisition of the property completed post 12 October 2013 you may assume that conveyancing practitioners delivering conveyancing in Rhiwbina to continue to propose a a chancel search and or insurance against a claim.
Have purchased a a detached house in Rhiwbina , how long will it take for the Land Registry to deal with the formalities evidencing my ownership? My Rhiwbina conveyancing solicitor works at snail pace, so I want to check the land registry aspects are dealt with.
As far as conveyancing in Rhiwbina registration is no quicker or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can vary subject to who lodges the application, whether there are errors and if the Land registry must send notices to any third persons or bodies. At present in the region of 80% of submission are fully addressed in less than three weeks but some can be subject to protracted hold-ups. Registration occurs once the purchaser is living at the premises therefore registration formalities is not typically primary concern yet if there is a degree of urgency associated with the registration then you or your solicitor could speak with the land registry and explain the circumstances.