We are buying a 2 bedroom apartment in Bowthorpe with a mortgage. We would like to retain our Bowthorpe lawyer, however the bank advise she’s not on their "panel". It appears that we have little choice but to instruct one of the bank panel solicitors or keep our Bowthorpe solicitor and pay for one of their panel lawyers to represent them. We regard this is unjust; are we not able to require that the bank use our Bowthorpe property lawyer ?
No, not really. The mortgage offered to you 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. A further alternative is for your Bowthorpe conveyancing lawyer to apply to be on the conveyancing panel.
We note that you have a post code search directory listing solicitors on the Coventry BS conveyancing panel. Do firms pay you a referral fee if I appoint them for our conveyancing in Bowthorpe?
We are a listing service only for law firms wishing to communicate if they are on the Coventry BS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Bowthorpe.
Are there restrictive covenants that are commonly identified during conveyancing in Bowthorpe?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Bowthorpe. 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…’
The estate agent has sent us the confirmation of our purchase of a new build flat in Bowthorpe. Conveyancing is a frightening process 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 conveyancing.
Set out below are examples of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Bowthorpe
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Please confirm the Lease plans are architect prepared. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
Should I be suspicious about third parties that I am dealing with are recommending an internet conveyancing firm as opposed to a High Street Bowthorpe conveyancing practice?
As with many professional services, often suggestions from relatives can be very helpful. Yet there are many players in a conveyancing transaction; estate agents, mortgage brokers and mortgage companies may put forward conveyancers to choose. Sometimes these lawyers might be known to one of the organisations as being good in their field, but sometimes there may be a commercial relationship behind the endorsement. You have the right to choose your preferred conveyancer. However, bear in mind that some lenders operate an approved list of law firms you must use for the lender aspect of your house move.
I’m about to sell my basement flat in Bowthorpe. Conveyancing is yet to be initiated, but I have just had a half-yearly service charge demand – Do I pay up?
The sensible thing to do is discharge the service charge as normal because all ground rent and service payments will be allotted on completion, so you should recover the relevant percentage by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer until the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process.
Bowthorpe Leasehold Conveyancing - Sample of Queries Prior to buying
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Does the lease contain onerous restrictions? You will want to find out as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you will be in the clutches of the managing agents both financially and when it comes to daily issues like the tidiness of the communal areas. Enquire of other people whether they are happy with their service. Finally, investigate as to the dates that the service charges are due to the managing agents and precisely how they are spending that money. Who are the managing agents?