My financial adviser has requested my Stockwood solicitor’s panel reference for the Lloyds conveyancing panel. Can you suggest how I obtain this. I have e-mailed my local Stockwood office but they don't know it.
You are best placed to get this information from your Stockwood solicitor . They retain a central record lender panel numbers.
I have been told by my conveyancer that chancel insurance is necessary on my purchase. What is the level of cover for Stockwood conveyancing?
The appropriate level of chancel indemnity insurance should be dictated by who your lender. It would differ for example between Halifax and Norwich and Peterborough Building Society. Conveyancing solicitors as opposed to borrowers take out such policies.
I am expecting a AIP from Barclays this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Barclays recommend any Stockwood solicitors on the Barclays conveyancing panel, or is it better to go independently?
You will need to appoint Stockwood solicitors independently although you'll need to choose one on the Barclays conveyancing panel. The solicitor represents both you and Barclays through the process.
After weeks of negotiation I have agreed a price on an apartment in Stockwood. My financial adviser recommended their conveyancers. I paid an advanced payment of £225. A few days later, the conveyancer contacted me to say that they were not on the Lloyds 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 Lloyds 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.
Will our conveyancer be making enquiries concerning flooding as part of the conveyancing in Stockwood.
The risk of flooding is if increasing concern for solicitors dealing with homes in Stockwood. Plenty of people will buy a property in Stockwood, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, adequate building insurance, or dispose of the property. Steps can be carried out during the course of a house purchase to forewarn the buyer.
Lawyers are not best placed to offer advice on flood risk, but there are a numerous checks that can be initiated by the purchaser or by their solicitors which should give them a better appreciation of the risks in Stockwood. The standard completed inquiry forms supplied to a buyer’s lawyer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to find out whether the property has ever been flooded. In the event that flooding has previously occurred and is not revealed by the seller, then a buyer could commence a compensation claim as a result of such an incorrect response. The purchaser’s solicitors should also order an enviro report. This should indicate whether there is a recorded flood risk. If so, more detailed investigations will need to be carried out.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Stockwood and how can your lawyers assist?
The 1954 Act affords a safeguard to commercial lessees, giving them the right to make a request to court for a continuation of occupancy when the lease comes to an end. There are limited grounds that a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Stockwood
My father-in-law has recommend that I use his conveyancing solicitors in Stockwood. Do I follow his recommendation?
Much as we are happy to recommend a Stockwood conveyancing lawyer the best way to select a conveyancing lawyer is to have guidance from friends or family who have used the firm that you are considering.
My son is embarking on her first house purchase, he had his mortgage in principle. After the offer was accepted on flat we contacted the bank to issue the formal offer. I was disappointed to discover that mortgage companies do not accept all property lawyer, they have to be on a list, is this right?
Lenders normally restrict either the type or the number of conveyancing practices on their approved list of lawyers. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the type of firm, some have decided to limit the number of firms they use to represent them. You should note that banks have no responsibility for the quality of advice provided by any Stockwood conveyancing practitioner on their panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago and whilst there are differing views about the extent of solicitor involvement in some of that fraud. Statistics from the Land Registry reveal that thousands of law firms only carry out one or two conveyances a year. Those supporting conveyancing panel cuts ask why law firms should have the right to be on a Lender panel when clearly, conveyancing is not their speciality. To put it another way; would you want a conveyancing solicitor to represent you if you were charged with a crime? Unlikely.