I am one month into the sale of my home in Burnham On Crouch and the EA has just text me to say that the purchasers are changing their conveyancer. The reason given is that the lender will only deal with solicitors on their approved list. Why would a big named mortgage company only work with certain law firms rather the firm that they want to select to handle their conveyancing in Burnham On Crouch ?
Mortgage companies have always had an approved set of law firms they are willing to work with, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks blame a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to oversee. Banks tend not to disclose 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. Plenty of firms 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. Your purchasers are not going to have any impact on this.
Last August we completed a house move in Burnham On Crouch. We have since encountered a number of problems with the property which we consider were missed in the conveyancing searches. Is there anything we can do? What searches should? have been carried out for conveyancing in Burnham On Crouch?
The query is vague as what problems have arisen and if they are relate to conveyancing in Burnham On Crouch. Conveyancing searches and due diligence initiated during the legal transfer of property are designed to help avoid problems. As part of the process, a seller fills in a form known as a SPIF. If the information proves to be inaccurate, you may have a misrepresentation claim against the seller for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Burnham On Crouch.
We are planning to buy with Coventry BS. We have called around locally but am unable to find a Burnham On Crouch conveyancing firm on the Coventry BS approved list. Please you assist?
You should take advantage of the find a lender approved solicitor tool on this web page. Pick the building society and type Burnham On Crouch or your location and you will see numerous conveyancers offices in Burnham On Crouch or nearest you.
My friend advised me that where I am purchasing in Burnham On Crouch I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is usually quoted for as part of the standard Burnham On Crouch conveyancing searches. It is not a small report of about 40 pages, listing and detailing significant information about Burnham On Crouch around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Burnham On Crouch Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information concerning Burnham On Crouch.
How does conveyancing in Burnham On Crouch differ for new build properties?
Most buyers of new build property in Burnham On Crouch contact us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the property is built. This is because new home sellers in Burnham On Crouch usually purchase the land, 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 property lawyers 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 Burnham On Crouch or who has acted in the same development.
I've recently bought a leasehold house in Burnham On Crouch. Do I have any liability for service charges for periods before 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. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part 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).
I inherited a ground floor flat in Burnham On Crouch, conveyancing having been completed half a dozen years ago. Can you please calculate a probable premium for a statutory lease extension? Equivalent flats in Burnham On Crouch with over 90 years remaining are worth £195,000. The ground rent is £45 levied per year. The lease expires on 21st October 2089
You have 64 years remaining on your lease the likely cost is going to range between £14,300 and £16,400 as well as costs.
The suggested premium range above a general guide to costs for extending a lease, but we cannot give you the actual costs in the absence of detailed due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and clearly you want to be as accurate as possible in your negotiations. You should not move forward placing reliance on this information without first seeking the advice of a professional.