My husband and I are planning to buy a 3 bedroom flat in Benfleet with a mortgage. We like our Benfleet conveyancer, but the mortgage company advise she’s not on their "panel". It appears that we have no option but to instruct one of the lender panel firms or keep our Benfleet conveyancer as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
No, not really. Your mortgage offer 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. Another option that might be available is for your Benfleet conveyancing lawyer to apply to be on the conveyancing panel.
Can you clarify what the consequences are if my lawyer’s firm is suspended from the Nottingham Conveyancing panel ahead of completing my conveyancing in Benfleet?
The first thing to point out is that, 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.
Are there restrictive covenants that are commonly identified as part of conveyancing in Benfleet?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Benfleet. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I was pointed in your direction by a couple of local estate agents in Benfleet to select a solicitor using your seach tool. What’s the financial upside for Estate Agents to recommend your site rather than a competitor’s?
We refuse to give any financial incentive for sending work in our direction. We found it would be just too difficult a fee as members of the public would think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Am I best advised to appoint a Benfleet conveyancing lawyer who is local to the property I am buying? An old friend can handle the legal formalities however his firm is located approximately 350miles drive away.
The benefit of a high street Benfleet conveyancing practice is that you can attend the office to execute documents, deliver your identification documents and pester them where appropriate. They will also have local intelligence which is a bonus. However nothing is more important than finding someone that will pull out all the stops for you. If you know people who used your friend and they were impressed that must trump using an unknown Benfleet conveyancing solicitor solely due to them being round the corner.
What are the common deficiencies that you encounter in leases for Benfleet properties?
Leasehold conveyancing in Benfleet is not unique. All leases are individual and drafting errors can sometimes mean that certain provisions are wrong. The following missing provisions could result in a defective lease:
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A provision for the recovery of money spent for the benefit of another party.
You may have difficulties when selling your property if you have a defective lease primarily because it impacts on the ability to obtain a mortgage on the property. Birmingham Midshires, Coventry Building Society, and Platform Home Loans Ltd all have express conveyancing instructions when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to provide security, obliging the purchaser to withdraw.
Benfleet Leasehold Conveyancing - Sample of Queries Prior to buying
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You should want to discover as much as you can about the managing agents as they will either make your living at the property much easier or uncomfortable. 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. You should not be shy to ask other tenants if they are happy with their management. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the appropriate party and specifically how they are spending the funds. What is the maintenance charge and ground rent on the flat? Who are the managing agents?