We are buying a 1 bedroom apartment in Adwick le Street with a mortgage. We like our Adwick le Street lawyer, however the mortgage company advise he's not on their "panel". It seems we have little choice but to use one of the bank panel solicitors or keep our Adwick le Street conveyancer and pay for one of their panel ones to act for them. We regard this is inequitable; can we not require that the lender use our Adwick le Street lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Adwick le Street conveyancing lawyer to apply to be on the conveyancing panel.
The owners of the house we are looking to purchase have instructed a conveyancing practitioner in Adwick le Street who has suggested a preliminary agreement with a deposit 10k. Is it wise to enter into such agreements?
This form of preliminary agreement is not the norm in Adwick le Street, conveyancers will often sway clients away from them as they detract from focusing on the primary objective, namely conveyancing and if you end up having your deposit forfeited then the lawyer is left exposed. Secondly, there is no assurance that just because the proprietor has executed a lock out agreement they will complete the sale with you. They may be inclined to break the contract if they are offered sufficient incentive to do so because an aggrieved purchaser with the benefit of a lockout agreement will still be legally obliged to establish consequential losses from the breach and this may not compare to the financial benefit that your seller may obtain by breaching the contract, however morally reprehensible it undoubtedly is.
We note that you have a search directory identifying solicitors on the Santander conveyancing panel. Do companies pay you a commission if I appoint them for our own conveyancing in Adwick le Street?
We are a listing service only for law firms wishing to communicate if they are on the Santander conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Adwick le Street.
I opted to have a survey carried out on a property in Adwick le Street before retaining lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some lenders tend not grant a loan on such a premises.
It depends who your proposed lender is. Bank of Scotland has different instructions from Birmingham Midshires. If you contact us we can check via the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Adwick le Street. Conveyancing may be slightly more expensive based on your lender's requirements.
We're novice buyers - had an offer accepted, but the property agent advised that the seller will only proceed if we appoint their preferred lawyers as they need an ‘expedited deal’. My instinct tells me that we should use a high street solicitor accustomed to conveyancing in Adwick le Street
We suspect that the seller is unaware of this requirement. If they require ‘a quick sale', alienating a motivated purchaser is likely to cause more damage than good. Speak to the vendors direct and make the point that (a)you are keen to buy (b)you are ready to go, with mortgage lined up © you are chain free (d) you wish to move quickly (e)however you intend to appoint your own,trusted Adwick le Street conveyancing firm - not the ones that will earn the negotiator at the agency a commission or hit his conveyancing targets pre-set by corporate headquarters.
I am a negotiator for a long established estate agency in Adwick le Street where we have experienced a few leasehold sales jeopardised due to short leases. I have been given conflicting advice from local Adwick le Street conveyancing firms. Could you confirm whether the seller of a flat can initiate the lease extension process for the purchaser on completion of the sale?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Adwick le Street Leasehold Conveyancing - A selection of Questions you should consider Prior to Purchasing
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It would be wise to find out as much as possible about the managing agents as they will affect your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical matters such as the cleanliness of the common parts. Don't be afraid to ask other people whether they are happy with them. Finally, investigate as to the dates that the maintenance fees are due to the managing agents and precisely what it includes. Make sure you find out if there are any onerous restrictions in the lease. By way of example plenty of leases prohibit pets being allowed in in a block in Adwick le Street. If you like the propertyin Adwick le Street yet your cat can’t make the move with you then you have a very hard decision. How is the lease structured?