I am progressing with the sale of my maisonette in Cleobury Mortimer and the estate agent has just telephoned to say that the purchasers are changing their property lawyer. I am told that this is due to the fact that the bank will only work with solicitors on their approved list. On what basis would a leading lender only engage with specific law firms rather the firm that they want to select for their conveyancing in Cleobury Mortimer ?
Lenders have always had panels of law firms they are content to work with, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Banks blame a rise in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to maintain. No lender will say 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 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. Your purchasers are not going to have any sway in the decision.
four months have gone by since my purchase conveyancing in Cleobury Mortimer completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Cleobury Mortimer. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Cleobury Mortimer
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please provide evidence that the form of Lease proposed has been approved by the Land Registry.
I've recently found out that there is a flying freehold element on a house I have offered on two weeks back in what should have been a straight forward, chain free conveyancing. Cleobury Mortimer is where the house is located. Can you offer any assistance?
Flying freeholds in Cleobury Mortimer are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Cleobury Mortimer you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Cleobury Mortimer may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold residence.
Am I better off to appoint a Cleobury Mortimer conveyancing lawyer in close proximity to the house I am purchasing? An old friend can carry out the legal formalities but his firm is located 200kilometers away.
The benefit of a high street Cleobury Mortimer conveyancing practice is that you can attend the office to sign documents, deliver your ID and apply pressure on them if necessary. Having local Cleobury Mortimer know how is a bonus. However nothing is more important than finding someone that will do a good and efficient job. If other friends have used your friend and they were content that must surpass using an unknown Cleobury Mortimer conveyancing solicitor solely due to them being based in the area.
Estate agents have just been given the go-ahead to market my ground floor flat in Cleobury Mortimer.Conveyancing lawyers have not yet been instructed but I have just received a quarterly maintenance charge invoice – what should I do?
Your conveyancing lawyer is likely to suggest that you should pay the maintenance contribution as usual because all ground rent and service payments will be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most management companies will not acknowledge the buyer unless 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