How up to date is your database of Arnold solicitors on the Co-operative conveyancing panel? Do Co-operative send you an updated list?
Arnold conveyancing firms themselves provide us confirmation that they are on the Co-operative conveyancing panel as opposed to being supplied with a list from Co-operative directly.
I had intended to instruct a property lawyer in Arnold for our house purchase. Our broker has since notified us that our mortgage company Platform Home Loans Ltd won't deal with them. Why is this not regarded as unduly restrictive?
Banks tend to restrict either the category or the amount of conveyancing practices on their panel. A common example of such criteria being that a law practice must have two or more partners. In addition to restricting the profile of firm, some have decided to limit the amount of solicitor practices they allow to represent them. You should note that Platform Home Loans Ltd have no responsibility for the quality of advice provided by any member of Platform Home Loans Ltd Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of conveyancing panels a few years ago even though there are mixed views about the extent of solicitor engagement in some of that fraud. Statistics from the Land Registry indicate that thousands of law firms, including some in or near Arnold only perform very few conveyances a year.
I happen to be the sole recipient of my late father’s estate and I have everything in my name now, including the house in Arnold. The Arnold property was put into my name in January. I now wish to sell up. I understand that there is a CML six month 'rule', meaning my property ownership will be treated the same way as if I'd bought the property in January. Do I have to wait half a year to sell?
The Council of Mortgage Lenders’ handbook instructs solicitors to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." Technically you may be caught by that. How sensible a view mortgage companies take of it, depend on the bank as this clause is principally there to identify the purchase and immediately sell or the quick reselling of properties.
After weeks of negotiation I have agreed a price on a house in Arnold. My financial adviser pressured me to appoint their conveyancing practitioner. I paid an advanced payment of £175. A few days later, the solicitor contacted me sheepishly admitting that they were not on the UBS 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 UBS 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.
Planning on purchasing a maisonette in Arnold. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the RBS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Arnold conveyancing practitioner is on the RBS conveyancing panel.
The estate agent has sent us the confirmation of our purchase of a new build flat in Arnold. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Arnold
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Please supply a car parking plan. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
All being well we will complete the disposal of our £250,000 garden flat in Arnold in just under a week. The management company has quoted £324 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a flat conveyance in Arnold?
Arnold conveyancing on leasehold maisonettes ordinarily necessitates administration charges levied by freeholders :
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Completing pre-exchange enquiries
Where consent is required before sale in Arnold
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Arnold - A selection of Queries Prior to buying
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It would be wise to find out if the the lease includes any unreasonable restrictions in the lease. For instance it is reasonably common in Arnold leases that pets are not permitted in certain buildings in Arnold. If you love the flatin Arnold yet your dog can’t make the move with you then you will be presented with a hard decision. Is there a share of the freehold? The best form of lease structure is a share of the freehold. In this arrangement the tenants enjoy control and even though a managing agent is frequently employed where the building is larger than a house conversion, the managing agent retained by the leaseholders.
We have had DIP from Halifax who suggested we could borrow up to £350k. At what point do I need to appoint a solicitor for conveyancing? Arnold is where we are purchasing.
You can appoint a lawyer now and ask them to create a file on your behalf. This will kickstart: 1) the selling agent to send out the Sales Memorandum to all parties 2) the seller’s solicitor to send out the draft contract. However, do not instruct your conveyancing practitioner to order searches until you receive your valuation report from Halifax and you are content to move forward.