I am not in a position to travel far from Castle Eden. Is there a reason why all Castle Eden conveyancers are not on all bank panels?
Banks ordinarily impose restrictions on either the type or the number of conveyancing practices on their panel. A common example of such restriction(s) being that a firm needs to have at least two partners. As well as restricting the structure of firm, some building societies decided to reduce the size of their panel they permit to act for them. It is worth noting that banks have no accountability for the standard of advice provided by any Castle Eden property lawyer on their panel. Property fraud was the primary trigger for the rationalisation of solicitor panels from 2008 even though there are differing points of view concerning whether solicitors sat at the center of that fraud. Data from HMLR reveal that thousands of law firms only conduct a couple of conveyances annually. Those advocating conveyancing panel pruning ask why conveyancing firms deserve any entitlement to be listed on a lender panel when it is apparent that conveyancing is not their primary expertise?
Finally the sale completed on my house in Castle Eden last December but our buyer keeps texting every few hours complaining that his lawyer is waiting to hear from mysolicitor. What should my lawyer have done following completion?
After completion of your house sale your conveyancer should forward the transfer deeds and all of the paperwork to the purchaser's lawyers. If applicable, your conveyancer must also evidence that the home loan has been discharged to the buyers solicitors. There is unlikely to be post completion steps peculiar conveyancing in Castle Eden.
Please explain the implications if my solicitor is expelled from the Leeds Building Society Conveyancing panel ahead of completing my conveyancing in Castle Eden?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
I am looking for a ground for flat up to £305k and identified one close by in Castle Eden I like with open areas and station nearby, the downside is that it's only got 49 years on the lease. There is not much else in Castle Eden for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you require a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the premises for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer about this.
I'm converting the mortgage on my primary home to a BTL mortgage with Norwich and Peterborough Building Society and I will use the rest of the raised equity as a deposit on another house. The neighborhood we are looking at is Castle Eden. Will your lawyers be able to act for the two lenders and tie in the two deals?
Make use of our comparison tool on this site to be sure that the solicitors are approved by both mortgage companies. Assuming that they are the lawyer should be able to tie up the two deals but you should talk with you lawyer and make apparent your desired outcome and needs.
I am purchasing a garden flat in Castle Eden. Conveyancing solicitor has been awaiting, from the vendor, building insurance paperwork. This afternoon I was advised that the vendor needs to forward the insurance documents for the flat above also. Why would my property lawyer need to review the insurance for the other flat? Is it strictly necessary? We have been stalled for the last fortnight…
It is not unheard of in leasehold conveyancing in Castle Eden to find Conveyancing in Castle Eden in a minority of cases reveals that the lease requires the leasehold owners to insure their individual flats rather than the landlord insuring the complete property - which is definitely preferable. Do double check with your lawyer but it would appear that your lawyer is seeking to establish that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the other flat cannot be reinstated as a result of lack of insurance.