Unfortunately I am unable to travel far from North End. What is the rationale as to why all North End conveyancers are not on all bank panels?
Before the recession most lenders demonstrated an approach to risk which is different than today. The Financial Services Authority in 2010 conducted a thematic review into mortgage fraud which in summary warned lenders: know the conveyancers on your panel. Accordingly, mortgage companies have subsequently looked to extract more data from law firms about their processes and the individuals employed by them and set certain criteria such as completing a minimum volume of transactions. Many firms have found themselves removed from lender panels even though they had an exemplary disciplinary record, no complaints and no claims and didn't just 'dabble' in conveyancing. Many firms found it impossible meet the minimum volume of transactions the lenders set.
My partner and I intend to remortgage our flat in North End with Skipton. We have a son 18 who lives at home. Our solicitor has asked us to disclose anyone over the age of 17 other than ourselves who lives in the flat. Our lawyer has now e-mailed a document for our son to sign, waiving any legal rights in the event that the property is forfeited by the lender. I have two concerns (1) Is this document specific to the Skipton conveyancing panel as he did not need to sign this form when we purchased 4 years ago (2) Does our son by signing this compromise his entitlement to inherit the property?
On the face of it your lawyer has done nothing wrong as it is established procedure for any occupier who is aged 17 or over to sign the necessary Consent Form, which is purely to state that any rights he has in the property are postponed and secondary to Skipton. This is solely used to protect Skipton if the property were re-possessed so that in such circumstances, your son would be legally obliged to leave. It does not impact your son’s right to inherit the apartment. Please note that if your son were to inherit and the mortgage in favour of Skipton had not been discharged, he would be liable to take over the loan or pay it off, but other than that, there is nothing stopping him from keeping the property in accordance with your will or the rules of intestacy.
My brother-in-law has suggested I instruct a conveyancing solicitor in North End. I I am struggling to find out whether they are on the Bank of Scotland conveyancing panel. Could you help?
You should phone your lawyer and ask them whether they can act for the lender. Otherwise you should call Bank of Scotland who may be able to help.
Should my solicitor be making enquiries concerning flooding as part of the conveyancing in North End.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in North End. Plenty of people will buy a property in North End, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to offer advice on flood risk, however there are a various searches that can be undertaken by the purchaser or by their lawyers which will give them a better understanding of the risks in North End. The standard information given to a purchaser’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) contains a usual question of the vendor to find out if the property has ever been flooded. In the event that the residence has been flooded in past which is not notified by the vendor, then a purchaser may commence a compensation claim as a result of such an incorrect response. A purchaser’s solicitors may also carry out an environmental search. This will disclose if there is a recorded flood risk. If so, more detailed inquiries should be initiated.
My husband and I are 17 days into a leasehold purchase having been recommend to a firm by the local agent to do our conveyancing in North End. I am not happy. Can you help me find new lawyers?
They would need to be very bad in order to consider replacing them. Has the mortgage been issued? If so you will need to inform them of the new conveyancer and get the mortgage documents are re-issued. Your new conveyancer should be on the banks approved list to avoid supplemental fees and complications. That should be your starting point. The search tool can help you find a bank approved conveyancer for your home move in North End