The Stoke Bishop conveyancing lawyers that I recently instructed on my house acquisition in Stoke Bishop have without warning shut down. I chose them because I had to have a solicitor on the UBS conveyancing panel and my preferred Stoke Bishop lawyer was not. I paid them £170 in advance. What are my options?
If you have an estate agent involved then let them know straight away so that they advise the vendors that there may be a slight delay due to the problems encountered. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You will need to appoint new lawyers that are on the UBS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Can you help - my lawyer advises that flying freehold insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Stoke Bishop?
The right level of flying freehold indemnity insurance depends on who your lender is. It would differ for example between Birmingham Midshires and Skipton Building Society. Conveyancing lawyers as opposed to borrowers take out such policies.
We previously appointed solicitors locally in Stoke Bishop on the Kent Reliance solicitor approved list. They are now charging me a further charge for dealing with the Kent Reliance mortgage. Is this an additional conveyancing fee specified by Kent Reliance?
Provided it is contained in their Terms and Conditions or Quote then yes your conveyancer is entitled to levy a fee for this. This charge is not dictated by Kent Reliance but by your Stoke Bishop lawyer. Plenty of firms on the Kent Reliance panel will quote an ‘acting for lender’ fee and others do not.
I am expecting a AIP from UBS this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do UBS recommend any Stoke Bishop solicitors on the UBS conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Stoke Bishop solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
Are there restrictive covenants that are commonly picked up during conveyancing in Stoke Bishop?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Stoke Bishop. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
How does conveyancing in Stoke Bishop differ for newly converted properties?
Most buyers of new build or newly converted property in Stoke Bishop contact us having been asked by the developer to exchange contracts and commit to the purchase even before the residence is constructed. This is because builders in Stoke Bishop usually acquire the real estate, 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 Stoke Bishop or who has acted in the same development.
Is it simple use the search tool to locate a conveyancing practitioner in Stoke Bishop on the authorised to act for my lender?
1st pick a bank such as Nationwide Building Society, Chelsea Building Society or Clydesdale then specify your location for example Stoke Bishop. Conveyancing organisations in Stoke Bishop and nationally will then be identified.