I had intended to instruct a property lawyer in Diss for our house purchase. Our financial adviser informed us that our mortgage lenders National Westminster Bank won't deal with them. Surely this is unduly restrictive?
Lenders tend to restrict either the category or the amount of conveyancing practices on their approved list of lawyers. A common example of such criteria being that a firm must have two or more partners. In addition to restricting the type of firm, some have reduced the amount of solicitor practices they permit to act for them. Be aware that National Westminster Bank have no responsibility for the quality of advice provided by any member of National Westminster Bank Conveyancer Panel. Mortgage fraud was a primary driver in the reduction of solicitor panels since 2008 even though there are differing opinions about the level of solicitor involvement in some of that fraud. Data from the Land Registry reveal that plenty of law firms, including some in or near Diss only execute one or two conveyances a year.
Please help - my lawyer advises that lack of right of way insurance is needed on my purchase. What is the typical level of cover needed for conveyancing in Diss?
The appropriate level of lack of right of way indemnity insurance depends on who your lender is. It would differ for example between Yorkshire Building Society and The Royal Bank of Scotland. Conveyancing lawyers as opposed to borrowers take out such insurances.
We are getting the release of further funds on our mortgage from Aldermore as we wish to conduct renovations to our home in Diss. Are we obliged to select a local Diss solicitor on the Aldermore conveyancing panel to handle the legals?
Aldermore would not normally instruct a member of their approved list of lawyers to handle such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Aldermore list.
Two weeks ago we had a mortgage agreed in principle with Bank of Ireland. Diss conveyancing lawyers were selected. What is the average time that one could expect to receive a mortgage offer from Bank of Ireland?
Some lenders take longer than others. Have Bank of Ireland conducted the valuation? Have you advised Bank of Ireland as to your lawyers' details and checked that your lawyers are on the Bank of Ireland conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I own a terraced Edwardian house in Diss. Conveyancing solicitor represented me and Chelsea Building Society. I happened to do a free search for it on the Land Registry database and there are a couple of entries: one for freehold, the second leasehold under the matching property. Is it worth asking Chelsea Building Society to clarify?
You need to read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered proprietor of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Diss and other areas of the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also question the position with the conveyancing practitioner who carried out the work.
What does commercial conveyancing in Diss cover?
Diss conveyancing for business premises covers a wide range of advice, given by regulated solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I need to retain a conveyancing solicitor for some conveyancing in Diss. I've discover a web site which appears to be the perfect solution If there is a chance to get all the legals completed via email that would be ideal. Do I need to be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?