Unfortunately I am unable to travel far from Bourne. Is there a reason why all Bourne lawyers aren't automatically on all bank panels?
Before the recession most banks had an attitude to risk which is different from today. The FSA in 2010 instigated a thematic review into property fraud which in summary warned lenders: know the conveyancers on your panel. Consequently, banks have subsequently looked to extract more information from law firms regarding their operations and the staff employed by them and set certain criteria such as completing a minimum volume of transactions. Many law practices have been excluded from lender panels even though they had an exemplary disciplinary record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Such firms found it impossible meet the criteria of amount of transactions the lenders insisted on.
I have a decision in principle. The lender mentioned the loan came with free conveyancing. Is the implication that I have to appoint their panel lawyer as I would much rather instruct a local conveyancing solicitor in Bourne?
Do check but the chances are that allocate you one of their panel solicitors should you accept the "fee-free" offer. Call the bank and check if they make available a cash alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Bourne.
Forgive me if this question is silly but I am new to the house moving as a first time buyer of a two bedroom flat in Bourne. Do I collect the keys to the premises on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Bourne?
On the day of completion you do not need to attend the conveyancers office in Bourne. Conveyancing lawyers for you will transfer the purchase money to the vendor’s conveyancers, and shortly after the monies have arrived, you should be called to collect the keys from the Estate Agents and start moving into the property. This tends to happen early afternoon.
Is it correct that all Bourne CQS (Conveyancing Quality Scheme) solicitors are on the Lloyds conveyancing list of approved practices?
A selection of lenders now use the accreditation scheme as the starting point for Panel membership such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their panels.
After much negotiation I have agreed a price on an apartment in Bourne. My mortgage broker suggested a conveyancer. I paid an advanced payment of £225. A few days later, the conveyancer called me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
Are there restrictive covenants that are commonly identified during conveyancing in Bourne?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Bourne. 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…’
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what should have been a simple, no chain conveyancing. Bourne is where the house is located. What do you suggest?
Flying freeholds in Bourne are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Bourne you would need to get your solicitor to go through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Bourne 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 residence.