We wanted to use a property lawyer in Bedlington for our house purchase. Our broker has since advised us that our bank Santander won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most lenders had a different appetite for risk. Almost all Bedlington conveyancing firms would have been on many lender panels. The financial services regulator in 2010 carried out a thematic investigation into mortgage fraud which concluded: know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more data from law firms concerning their operations and their employees and set certain criteria such a completing on a minimum volume of conveyancing. Many Bedlington conveyancing firms that have been excluded from lender panels have Unblemished track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Bedlington is amongst the numerous areas where the solicitors showing on our search results are on the panel for Santander.
Will commercial conveyancing searches disclose planned roadworks that could impact a commercial land in Bedlington?
Its becoming the norm that commercial conveyancing solicitors in Bedlington will perform a SiteSolutions Highways report as it reduces the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Bedlington. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Bedlington.
For each commercial conveyancing transaction in Bedlington it is crucial to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately can result in delays to Bedlington commercial conveyancing transactions as well as pose a risk to future plans for the site. These searches are not carried out for domestic conveyancing in Bedlington.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Bedlington. 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.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Bedlington
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There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Please provide evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Due to the encouragement of my in-laws I had a survey completed on a house in Bedlington before retaining solicitors. I have been told that there is a flying freehold element to the property. Our surveyor has said that some lenders will refuse to issue a loan on this type of property.
It depends who your proposed lender is. Bank of Scotland has different requirements for example to Nationwide. If you call us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Bedlington. Conveyancing may be slightly more expensive based on your lender's requirements.
Am I better off to instruct a Bedlington conveyancing solicitor in close proximity to the house I am buying? I have an old university friend who can execute the legal work however his firm is located 300kilometers drive away.
The primary upside of using a local Bedlington conveyancing practice is that you can drop in to sign paperwork, present your identification documents and apply pressure on them where appropriate. Having local Bedlington know how is a plus. That being said it's more important to get someone that will pull out all the stops for you. If other friends have instructed your friend and in the main were happy that should outweigh using an unknown Bedlington conveyancing lawyer solely due to them being based in the area.
Are there any compelling benefits to instructing a high street conveyancing practitioner in Bedlington
Many buyers and sellers in Bedlington choose a local solicitor so that they can pop into the firm’s offices just in case they have questions, and to sign paperwork rather than relying on the post.
One could suggest that there is a marginal edge when using a conveyancing practitioner local to the property you are buying, due to the in-depth knowledge of the region and potential local issues - but this is moot. The majority of conveyancers undertaking their communications by way of email and could be practically anywhere.