I am nearing exchange of contracts for my ground floor flat in Brantham and the estate agent has just telephoned to warn that the purchasers are swapping property lawyer. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. Why would a big named mortgage company only engage with certain solicitors rather the firm that they want to appoint to handle their conveyancing in Brantham ?
UK lenders have always had an approved set of law firms they are content to work with, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Mortgage companies justify this action to a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any sway in the decision.
Just had an offer accepted on a new build flat in Brantham. Conveyancing is necessary evil 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 selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Brantham
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Please confirm the Lease plans are architect prepared. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. 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.
I have been on the look out for a flat up to £245,000 and found one round the corner in Brantham I like with amenity areas and station in the vicinity, the downside is that it's only got 61 years on the lease. I can't really find anything else in Brantham for this price, so just wondered if I would be making a grave error purchasing a short lease?
Should you need a mortgage the shortness of the lease will likely be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of twenty four months you can request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Am I right to be wary about brokers that I am dealing with are suggesting an online conveyancing firm rather than a High Street Brantham conveyancing firm?
As with many professional services, often recommendations from relatives can be most helpful. Yet there are many players in a conveyancing deal; estate agents, mortgage brokers and mortgage companies may put forward lawyers to select. On occasion the lawyers might be known to one of the organisations as one of the best in their field, but occasionally there may be a commercial relationship behind the recommendation. You are free to appoint your preferred conveyancer. You need to be aware that most lenders have an approved list of solicitors you must use for the mortgage related work in your home move.
My father-in-law has urged me to instruct his lawyers for conveyancing in Brantham. Should I choose my own solicitor?
There are no two ways about it the ideal way to find a conveyancing practitioner is to have guidance from friends or relatives who have actually used the conveyancer you're are thinking of instructing.
Me and myhusband and I are in the market for a value for money conveyancing solicitor in Brantham to buy a apartment. I really don't want to get ripped off and there are plenty Brantham conveyancing solicitors to pick from...how do I know which one is best to select?
If you have not used a property lawyer before, a personal recommendation from relatives or friends is a preferable starting point and is often the best indicator of quality. As an alternative option, do review the client testimonials published on your conveyancer’s website or use our search tool to select a conveyancing lawyer in Brantham.