Can you clarify what the consequences are if my solicitor is suspended from the Virgin Money Conveyancing panel ahead of completing my conveyancing in Beadnell?
First, this is very unlikely to happen. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
Is it correct that all Beadnell CQS (Conveyancing Quality Scheme) solicitors are on the Kent Reliance conveyancing list of approved practices?
It is true that some banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitor practices wishing to remain on their approved list of conveyancing solicitors.
I'm spending time looking at flats in Beadnell and I am about to put in an offer. Is it wise to have my conveyancing practitioner on ‘stand by’? I will be getting a mortgage with Nottingham.
It would be prudent to instigate your search sooner rather than later. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the estate agent. As you are getting a mortgage with Nottingham, ask your prospective lawyers if they are on the Nottingham conveyancing panel otherwise they can't do the mortgage legal work.
I recently had an offer accepted on an apartment in Beadnell. My financial adviser pressured me to appoint their property lawyer. I paid an advanced payment of £225. Soon after, the conveyancing practitioner contacted me to say that they were not on the Clydesdale 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 Clydesdale 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.
I am intent on selling our property in Beadnell and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. A high street Beadnell lawyer would know this is not the case. For the life of me I don't know why the purchasers instructed an internet conveyancing firm as opposed to a conveyancing solicitor in Beadnell. Having lived in Beadnell for 5 years we know of no issue. Do we contact our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same ailment)
I am purchasing my first flat in Beadnell with the aid of help to buy. The builders would not move on the amount so I negotiated five thousand pounds worth of fixtures and fittings instead. The property agent advised me not disclose to my solicitor about the side-deal as it would impact my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a simple, chain free conveyancing. Beadnell is the location of the property. Is there any guidance you can give?
Flying freeholds in Beadnell are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Beadnell you must be sure that your lawyer goes through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Beadnell may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.
I am tempted by the attractive purchase price for a couple of maisonettes in Beadnell both have in the region of fifty years left on the lease term. Should I regard a short lease as a deal breaker?
There are plenty of short leases in Beadnell. The lease is a right to use the property for a prescribed time frame. As a lease shortens the marketability of the lease decreases and it becomes more costly to acquire a lease extension. For this reason it is advisable to extend the lease term. Sometimes it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on such properties. Lease enfranchisement can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.
Beadnell Leasehold Conveyancing - Examples of Questions you should consider before Purchasing
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It would be prudent to discover as much as possible about the company managing the building as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to day to day issues like the upkeep of the common parts. Enquire of prospective neighbours whether they are happy with them. On a final note, find out the dates that you are obliged pay the maintenance charge to the relevant party and specifically how they are spending that money. Is the freehold owned collectively by the tenants? What is the length of the lease?