I am nearing exchange of contracts for my house in Bolton and the estate agent has just e-mailed to say that the buyers are swapping property lawyer. The excuse is that the mortgage company will only work with property lawyers on their approved list. On what basis would a major lender only work with specific law firms rather the firm that they want to appoint for their conveyancing in Bolton ?
Banks have always had an approved set of law firms they are willing to work with, but in recent years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks attribute this action to a rise in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some 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. Your buyers are not going to have any impact on this.
Do commercial conveyancing searches reveal impending roadworks that may impact a commercial land in Bolton?
Its becoming the norm that commercial conveyancing solicitors in Bolton will execute a SiteSolutions Highways report as it reduces the time that conveyancers invest in investigating accurate data on highways that impact buildings and development assets in Bolton. The search result 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 Bolton.
For each commercial conveyancing transaction in Bolton 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 may cause delays to Bolton commercial conveyancing deals as well as present a risk to future plans for the site. These searches are not ordered for domestic conveyancing in Bolton.
The estate agent has sent us the confirmation of our purchase of a new build flat in Bolton. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Bolton
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Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I'm refinancing my primary home to a BTL mortgage with Virgin Money and intend to use the remaining equity as a down payment on further property. The area we are interested in is Bolton. Will your conveyancers be able to act for both sets of mortgage companies and link together the two deals?
Do use our comparison tool on this page to ensure that the conveyancers are approved by both mortgage companies. Assuming that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should talk with you conveyancer and make clear your desired outcome and requirements.
My husband and I are a fortnight into a leasehold purchase having been recommend to conveyancers by the high street agent to perform conveyancing in Bolton. I am am extremely disappointed with the level of service. Can you you assist me in finding new solicitors?
A lawyer would need to be really bad to suggest changing them. Has the mortgage offer been sent? In the event that it has you will need to advise them of the new contact details and have the offer are re-sent. Your new solicitor ideally needs to be on the lenders panel to avoid escalating charges and frustration. That should be your first question of the new lawyers. Our search tool should assist you in finding a bank approved lawyer for your conveyancing in Bolton
I have appointed a Bolton conveyancing solicitor for our house purchase (novice purchasers) and have noticed in the terms and conditions that they are not covered by the Financial Conduct Authority. Am I right to be worried or is that the norm with conveyancing practitioner?
We can't see why they should be. Most property lawyer don't lend money. You should check that they are governed by the Solicitors Regulation Authority, who set stringent laws in place on monies sitting by them.