I am in the process of selling my maisonette in Alnmouth and the estate agent has just text me to say that the purchasers are appointing a new property lawyer. I am told that this is due to the fact that the mortgage company will only deal with property lawyers on their approved list. On what basis would a leading lender only work with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Alnmouth ?
Mortgage companies have always had panels of law firms they are willing to work with, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
Do the conveyancing solicitors identified via your search tool perform attended exchange conveyancing in Alnmouth?
There are a few conveyancing experts carrying out attended exchanges. Do e-mail us to obtain a costs illustration and details as to availability.
We were going to get a OIP from Bank of Ireland this week so we know how much we could potentially offer as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Bank of Ireland recommend any Alnmouth solicitors on the Bank of Ireland conveyancing panel, or is it better to go independently?
You will need to appoint Alnmouth solicitors independently although you'll need to choose one on the Bank of Ireland conveyancing panel. The solicitor represents both you and Bank of Ireland through the process.
The formalities of my remortgage has taken place for my property in Alnmouth. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How does one go about formally complaining?
Almost all banks and building societies have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are sorted out very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR who will take matters further.
I've read lots of house buying guides, I note that it is considered advisable to get your house surveyed prior to buying it. When I asked my local Alnmouth solicitor - who is on the TSB conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
TSB will need an independent valuation of the property. Your lawyer will not arrange this. Usually TSB will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your conveyancer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Alnmouth postcode. As you are getting a mortgage with TSB, you could contact them to see if they have a list of approved surveyors in Alnmouth.
My relative advised me that where I am purchasing in Alnmouth I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is occasionally included in the estimate for your Alnmouth conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Alnmouth around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Alnmouth Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Alnmouth.
I am 14 days into a freehold purchase having been recommend to a firm by the local agent to execute conveyancing in Alnmouth. I am not happy. Can you you assist me in finding new lawyers?
A lawyer would need to be really poor to suggest replacing them. Has the loan offer been generated? If so you will need to advise them of the new contact details and ensure the loan are issued to the new lawyers. Your conveyancer needs to be on the banks approved list to avoid added fees and complications. So that should be your starting point. Our search tool will assist you in finding a bank approved lawyer for your home move in Alnmouth
Due to exchange soon on a leasehold property in Alnmouth. Conveyancing lawyers have said that they are sending me a report within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in Alnmouth should include some of the following:
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You should be sent a copy of the lease Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? How long the lease is. You should be advised as what happens when the lease expires, and aware of the importance of the 80 year mark specifics of the parties to the lease, e.g. these could be the (you), superior lessor, landlord Ground rent - what is payable and when is collected, and be on notice if this is subject to change
Alnmouth Conveyancing for Leasehold Flats - Examples of Questions you should ask Prior to buying
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Many Alnmouth leasehold properties will be liable to pay a service charge for maintenance of the block invoiced by the management company. Where you buy the flat you will have to pay this charge, normally in instalments throughout the year. This may differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a rentcharge to be met yearly, this is usually not a significant figure, say approximately £50-£100 but you should to check it because occasionally it can be surprisingly expensive. Its a good idea to find out as much as you can regarding the company managing the block as they will impact your use and enjoyment of the property. As the owner of a leasehold property you are often at the mercy of the managing agents both financially and when it comes to practical issues like the upkeep of the communal areas. Ask prospective neighbours if they are happy with them. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically what you get for your money. How much is the annual service fee and ground rent?