I am progressing with the sale of my house in Brigg and the EA has just telephoned to say that the buyers are swapping property lawyer. The reason given is that the lender will only work with solicitors on their conveyancing panel. Why would a big named mortgage company only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Brigg ?
Lenders have always had an approved set of law firms that can act for them, but in the last few 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 decades.
Lenders blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms 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. The buyers are not going to have any impact on this.
We are planning on selling our home in Brigg and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. A high street Brigg conveyancer would know this is not the case. It does beg the question why the purchasers instructed an internet conveyancing firm as opposed to a conveyancing solicitor in Brigg. We have lived in Brigg for three years we know of no issue. Do we get in touch with our local Authority to obtain clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
How does conveyancing in Brigg differ for new build properties?
Most buyers of new build residence in Brigg come to us having been asked by the seller to sign contracts and commit to the purchase even before the property is completed. This is because new home sellers in Brigg usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Brigg or who has acted in the same development.
I opted to have a survey done on a property in Brigg before appointing solicitors. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some banks may refuse to grant a loan on this type of premises.
It depends who your proposed lender is. Lloyds has different instructions from Birmingham Midshires. If you e-mail us we can investigate further with the relevant lender. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Brigg. Conveyancing will be smoother if you use a solicitor in Brigg especially if they regularly deal with such properties in Brigg.
What does commercial conveyancing in Brigg cover?
Non domestic conveyancing in Brigg incorporates a wide array of services, given by qualified solicitors, relating to business property. By way of example, this area of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I've recently bought a leasehold property in Brigg. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Brigg - Sample of Questions you should ask Prior to Purchasing
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Is anyone aware of any major works in the planning that could increase the maintenance fees? Is there a share of the freehold? The answer will be useful as a) areas can cause problems in the block as the common areas may begin to deteriorate where repairs remain unpaid b) if the tenants have an issue with the running of the building you will want to know about it