My wife and I are hoping to purchase a home in Long Sutton and are in fact using a Long Sutton conveyancing firm. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. TSB have this morning contacted us to inform me that there is now an issue as our Long Sutton lawyer is not on their approved list of lawyers. Is this a problem?
If you are buying a property needing a mortgage it is usual for the purchasers' solicitors to also act for 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 Quality Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel and you may continue to use your own Long Sutton solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
I am being told by my solicitor that restrictive coveneant insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Long Sutton?
The right level of restrictive coveneant indemnity insurance should be dictated by who who your lender is. It would differ for example between Birmingham Midshires and Skipton Building Society. Conveyancing lawyers as opposed to members of the public take out such policies.
I have paid off my mortgage with Virgin Money. I assume I don't need a Long Sutton conveyancer on the Virgin Money panel to remove the mortgage at the Land Registry. Please confirm.
If you have finished paying off your Virgin Money mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Virgin Money mortgage from the register. Virgin Money, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:
- but are not moving to another property
- where Virgin Money has sent the Land Registry the discharge electronically, and
- Virgin Money has instructed the Land Registry to do so
I am currently in the process of buying my council flat in Long Sutton. I have a mortgage offer with Barclays. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Barclays, you will need to appoint a solicitor on the Barclays conveyancing panel.
Will our solicitor be raising enquiries regarding flooding as part of the conveyancing in Long Sutton.
Flooding is a growing risk for conveyancers carrying out conveyancing in Long Sutton. There are those who acquire a house in Long Sutton, completely aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, adequate insurance cover, or dispose of the property. Steps can be carried out as part of the conveyancing process to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, but there are a various searches that may be initiated by the buyer or by their solicitors which will figure out the risks in Long Sutton. The standard completed inquiry forms given to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual question of the seller to find out whether the premises has suffered from flooding. If flooding has previously occurred and is not revealed by the seller, then a purchaser may issue a legal claim for losses stemming from an incorrect response. The buyer’s lawyers should also commission an enviro report. This will reveal whether there is a recorded flood risk. If so, more detailed inquiries will need to be carried out.
I used Arc property Solicitors several years ago for my conveyancing in Long Sutton. Now, I need the files but the law firm has closed. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Long Sutton of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I've recently found out that there is a flying freehold element on a house I put an offer in two weeks back in what was supposed to be a straight forward, chain free conveyancing. Long Sutton is where the house is located. Is there any guidance you can give?
Flying freeholds in Long Sutton are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Long Sutton you must be sure that your lawyer goes through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Long Sutton may decide 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.