Unfortunately I am unable to travel far from Verwood. Is there a reason why all Verwood solicitors are not on all lender panels?
Even though it may seem unfair for banks to restrict who can act for them, from the public’s or solicitor’s perspective, the flip side is that lending institutions are becoming ever more anxious and feel it necessary to protect them against illegal activities. As a result of this concern mortgage companies have reduced their panel of approved conveyancing lawyers to a manageable size.
is it true that all Verwood conveyancing solicitors on the Nottingham conveyancing panel are overseen by the SRA?
As a firm of solicitors, in order to be on the Nottingham conveyancing panel they would need to be governed by the Solicitors Regulatory Authority. The majority of banks do permit licenced conveyancers on their panel and in that case the firms would be overseen by the Council of Licensed Conveyancers.
Last month we had a mortgage agreed in principle with Clydesdale. Verwood conveyancing practitioners were selected. How long does it take for Clydesdale to forward the offer to the solicitor?
Some lenders take longer than others. Have Clydesdale done the valuation? Have you advised Clydesdale as to your lawyers' details and checked that your lawyers are on the Clydesdale conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I am purchasing a property in Verwood. A rare aspect is that the roof has a solar panel. Coventry BS have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
Given that you are obtaining a mortgage with Coventry BS your lawyer must check the formal instructions contained in Part two of UK Finance Lenders’ Handbook for Coventry BS. The Council of Mortgage Lenders’ Handbook contains minimum provisions for solar panel roof-space leases, and lawyers are required to report to Coventry BS where a lease fails to meet these provisions. The provisions relate to the installation of panels on properties nationwide and is not restricted to Verwood.
Will my solicitor be raising questions about flooding as part of the conveyancing in Verwood.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Verwood. There are those who purchase a property in Verwood, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken as part of the conveyancing process to forewarn the buyer.
Solicitors are not qualified to give advice on flood risk, however there are a numerous checks that can be carried out by the buyer or by their conveyancers which can figure out the risks in Verwood. The conventional set of information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) incorporates a standard inquiry of the seller to discover if the property has suffered from flooding. In the event that the residence has been flooded in past and is not notified by the vendor, then a purchaser could issue a legal claim for losses as a result of such an misleading response. A buyer’s conveyancers should also carry out an environmental report. This will indicate whether there is any known flood risk. If so, additional investigations should be initiated.
The deeds to my home are lost. The conveyancers who handled the conveyancing in Verwood 4 years ago no longer exist. Will I be able to sell the house?
You no longer need to have the physical official documentation to evidence that you own the land or property, given that the Land Registry hold details of all registered land or property electronically.
I acquired a house in Verwood last 29/6/2021 and to date it is still not recorded with HMLR. It is part of a new estate and my lawyer told me that it can take 12 months to complete the registration formalities. I have spoken with the Land Registry directly and they say that the original application was cancelled due to failure to reply to requisitions. Do I need to be concerned?
get in touch with your lawyer - if you are not getting sensible responses, find out about their firm’s complaints process and amplify your problem to a Complaints Manager. Registrations for Verwood conveyancing are not known to be particularly slow.