We are due to exchange on the purchase of a property in Waterloo but as a result of damage from the recent storms I have managed to agree reparation from the owner in the sum of £3k by way of a deduction in the price. This was going to be addressed as part of the conveyancing process yet Yorkshire BS are not allowing this. Should they have been approached?
Your property lawyer being on the Yorkshire BS conveyancing panel is duty bound to advise Yorkshire BS of any amendments to the sale price. If you were to refuse your conveyancing practitioner to disclose the price change to Yorkshire BS then they would have to discontinue acting for you. In addition, Yorkshire BS and you would have to appoint a new conveyancer for your conveyancing in Waterloo.
Having invested time researching online forums for a high-quality solicitor in Waterloo, most post that I must look for a CQS accredited solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in the legal transfer of properties, trusted by some of the UK's biggest lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Waterloo is one of the numerous areas of the UK where there are Accredited lawyers.
I have been told by my lawyer that restrictive coveneant insurance is necessary on my purchase. What is the level of cover for Waterloo conveyancing?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between National Westminster Bank and Skipton Building Society. Conveyancing practitioners as opposed to borrowers take out such policies.
My husband and I have organised a further advance on our mortgage from RBS as we want to carry out alterations to our house in Waterloo. Do we need to select a high street Waterloo solicitor on the RBS conveyancing panel to handle the legals?
RBS don't usually appoint a member of their approved list of lawyers to handle the formalities. If they do require any legal work then you would need to ensure that such a lawyer was on the RBS conveyancing panel.
We have agreed to purchase a house in Waterloo. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Nottingham be concerned?
Given that you are obtaining a mortgage with Nottingham your lawyer must follow the conveyancing instructions outlined in Part 2 of UK Finance Lenders’ Handbook for Nottingham. The CML Handbook stipulates minimum conditions for solar panel roof-space leases, and property lawyers are required to report to Nottingham where a lease does not meet these requirements. The specifications relate to the installation of panels on properties countrywide and is not restricted to Waterloo.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on two weeks back in what was supposed to be a quick, no chain conveyancing. Waterloo is where the house is located. Can you shed any light on this issue?
Flying freeholds in Waterloo are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Waterloo you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Waterloo may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
Having used your search tool I can't find the lawyer I was hoping to instruct as being on the mortgage company conveyancing panel. My lawyer has said that they are on the lender approved panel. How can I be sure given that they are not listed on your directory?
Not all firms are yet listed on our lender panel search tool which is still relatively new. Law firms are listing on a daily basis and it is probably the case that your lawyer is on the bank conveyancing lawyer and you should probably take them at their word. Please do feel free to suggest that they completing their listing on our site as it would only cost them £1 a month to list themselves as being on the mortgage company solicitor panel.