My wife and I have recently appointed a conveyancing solicitor in Walton. I I would like to check if they are accepted on the The Mortgage Works approved list of lawyers. Can you or the lender confirm if they are on the panel?
You should phone your conveyancer and enquire if they can act for the bank. Otherwise please get in touch with The Mortgage Works who may be able to confirm.
I am the single beneficiary of my late father’s will with all property in now in my sole name, including the my former home in Walton. Conveyancing formalities meant that the Land Registry date was in December. I want to move. I understand that there is a Mortgage Lenders six month 'rule', which means that my proprietorship may be treated the same way as though I had purchased the house in December. Is the property unsalable for six months?
The Council of Mortgage Lenders’ handbook mandates conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you may be affected by that. How sensible a view banks take of it, depend on the lender as this obligation is primarily there to pick up on the purchase and immediately sell or the wholesaling and assigning of property.
When it comes to mortgage companies such as Kent Reliance, do Walton solicitors incur a yearly amount to be on the conveyancing panel?
We are not aware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel application.
is it true that all Walton conveyancing solicitors on the RBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As solicitors, in order to be on the RBS approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Some lenders do list licenced conveyancers on their panel in which case such practice would be overseen by the Council of Licensed Conveyancers.
Should my solicitor be raising questions about flooding as part of the conveyancing in Walton.
The risk of flooding is if increasing concern for lawyers specialising in conveyancing in Walton. Plenty of people will buy a property in Walton, fully aware that at some time, it may suffer from flooding. However, aside from the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, however there are a various checks that can be initiated by the buyer or by their lawyers which should give them a better understanding of the risks in Walton. The conventional set of property information forms sent to a buyer’s solicitor (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a standard question of the vendor to find out whether the property has historically flooded. If flooding has previously occurred and is not revealed by the owner, then a buyer could bring a compensation claim resulting from an misleading response. A purchaser’s solicitors should also conduct an enviro search. This will reveal whether there is a recorded flood risk. If so, additional inquiries will need to be carried out.
Am I best advised to go with a Walton conveyancing practitioner who is local to the property I am hoping to buy? We have a good friend who can perform the conveyancing but they are based over three hundred miles drive away.
The primary upside of using a local Walton conveyancing firm is that you can pop in to execute paperwork, present your ID and pester them if necessary. Having local Walton know how is a plus. That being said it's more important to get someone that will do a good and efficient job. If if people you trust used your friend and in the main were happy that must surpass using an unfamiliar Walton conveyancing solicitor just because they are round the corner.
The lawyers undertaking our conveyancing in Walton has sent documents to review that show the property is unregistered with epitome documents. Why is the property not yet recorded at HMLR?
Whilst the vast majorities of properties in Walton are now registered with the Land Registry there are still a few that remain unregistered. Any property in Walton that has been purchased since the late 1980’s will have been registered at the HMLR under the compulsory ‘first registration’ scheme. However, if a Walton property has not changed hands in that time then it’s likely the old fashioned title deeds will be the only evidence of ownership.Plenty of Walton conveyancing practitioners will be familiar with this type of conveyancing but if any uncertainty exists the prevailing proposition these days is for the current owners to register it first and subsequently sell - this this chain of events will result in a significant delay.