My fiance and I are hoping to acquire a house in Walsall and are in fact using a Walsall conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Nottingham Building Society have this evening contacted us to advise us that there is now an issue as our Walsall lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is usual for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Walsall lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you have another set of people involved.
There are a variety of conveyancing solicitors in Walsall but how do I know who's good?
We would encourage you not to base your choice on the cheapest Walsall conveyancing costs illustration. You really do get what you’re paying for when it comes to conveyancing solicitors. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I am purchasing a property in Walsall. A rare aspect is that the roof has a solar panel. TSB 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 TSB your lawyer must comply with the formal requirements outlined in Section two of UK Finance Lenders’ Handbook for TSB. The Council of Mortgage Lenders’ Handbook sets out minimum requirements for solar panel roof-space leases, and property lawyers are required to report to TSB where a lease fails to comply with these provisions. The requirements relate to the installation of panels on properties countrywide and is not restricted to Walsall.
I am due to exchange contracts on my house. I had a double glazing fitted in October 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Principality are being difficult. The Walsall solicitor who is on the Principality conveyancing panel is recommending indemnity insurance as a solution but Principality are insisting on a building regulation certificate. Why do Principality have a conveyancing panel if they don't accept advice from them?
It is probably the case that Principality have referred the matter to their valuer. The reason why Principality 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.
Should my conveyancer be raising questions about flooding during the conveyancing in Walsall.
Flooding is a growing risk for lawyers dealing with homes in Walsall. Some people will acquire a property in Walsall, completely aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a house is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the property. There are steps that can be taken during the course of a house purchase to forewarn the buyer.
Conveyancers are not qualified to give advice on flood risk, but there are a various searches that may be carried out by the purchaser or on a buyer’s behalf which can figure out the risks in Walsall. The standard completed inquiry forms sent to a purchaser’s conveyancer (where the solicitors are adopting what is known as the Conveyancing Protocol) incorporates a standard inquiry of the vendor to discover if the property has historically flooded. If flooding has previously occurred which is not disclosed by the owner, then a purchaser could commence a claim for damages stemming from an incorrect answer. The buyer’s lawyers may also conduct an enviro report. This should reveal if there is a recorded flood risk. If so, additional inquiries will need to be carried out.
I am thinking of appointing a conveyancing solicitor in Walsall for my house move. Can I review a solicitor's record with the legal regulator?
Members of the public may review documented Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after Jan 2008. Visit Check a solicitor's record. To find records Pre 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, use +44 (0)121 329 6800. The regulator sometimes recorded telephone calls for training requirements.
Last June I purchased a leasehold house in Walsall. Am I liable to pay service charges for periods before completion of my purchase?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
I own a ground floor flat in Walsall, conveyancing formalities finalised half a dozen years ago. Can you let me have an estimated range of the fair premium for a lease extension? Similar properties in Walsall with an extended lease are worth £192,000. The ground rent is £55 charged once a year. The lease runs out on 21st October 2072
With only 54 years left to run the likely cost is going to be between £32,300 and £37,400 plus costs.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to supply the actual costs without more comprehensive due diligence. Do not use the figures in a Notice of Claim or as an informal offer. There may be additional concerns that need to be taken into account and clearly you want to be as accurate as possible in your negotiations. Neither should you take any other action based on this information before getting professional advice.