I am in the process of selling my ground floor flat in Clifton Village and the estate agent has just telephoned to advise that the buyers are switching law firm. The reason given is that the mortgage company will only engage with property lawyers on their conveyancing panel. Why would a big named lender only work with certain lawyers rather the firm that they want to select for their conveyancing in Clifton Village ?
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 considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Mortgage companies point to the increase in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to oversee. 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. Some 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 note that you have a search directory identifying law firms on the Bank of Ireland conveyancing panel. Do companies pay you a referral fee if I instruct them for our conveyancing in Clifton Village?
We are a listing service only for law firms wishing to communicate if they are on the Bank of Ireland conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Clifton Village.
We are getting the release of further monies on our home loan from Yorkshire BS as we want to carry out renovations to our property in Clifton Village. Are we obliged to select a nearby Clifton Village solicitor on the Yorkshire BS conveyancing panel to deal with the legals?
Yorkshire BS would not normally instruct firms on their approved list of lawyers to deal with such a matter. If they do require any legal work then you would need to ensure that such a lawyer was on the Yorkshire BS conveyancing panel.
I can not work out if my bank requires a lease extension. I have telephoned my Clifton Village building society branch on a couple of occasions and was told they are content with the situation and they would lend. My Clifton Village conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your solicitor must comply with the Council of Mortgage Lenders’ Handbook section two requirements for your bank. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years remaining.
Planning on purchasing a flat in Clifton Village. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Bank of Ireland conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Clifton Village conveyancing practitioner is on the Bank of Ireland conveyancing panel.
Various internet forums that I have visited warn that are a common cause of obstruction in Clifton Village house deals. Is that correct?
The Council of Property Search Organisations (CoPSO) published findings of a review by MoveWithUs that conveyancing searches do not feature amongst the top 10 causes of hindrances during the legal transfer of property. Searches are unlikely to be the root cause of holding up conveyancing in Clifton Village.
I am looking to sell my property. My former lawyers have shut. I am in need of a recommendation of a conveyancing firm. Im based in Clifton Village if that makes things easier.
Do use our search tool to help you find a solicitor for your conveyancing in Clifton Village. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.
Looking forward to complete next month on a studio apartment in Clifton Village. Conveyancing solicitors have said that they are sending me a report on Monday. What should I be looking out for?
Your report on title for your leasehold conveyancing in Clifton Village should include some of the following:
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Alterations to the flat Are you allowed to have a pet in the flat? The length of the lease term. You should be advised as what happens when the lease expires, and aware of the importance of not letting the lease term falling below eighty years An explanation concerning the obligations in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a leaseholder enjoys Where does the liability rest to repair and maintain the main walls and foundations. It is important for you to know who is responsible the repair and maintenance of every part of the building
Leasehold Conveyancing in Clifton Village - Examples of Queries before Purchasing
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The answer will be useful as a) areas could result in problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will wish to know about it It would be prudent to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to day to day matters such as the tidiness of the communal areas. You should not be afraid to ask prospective neighbours whether they are happy with them. On a final note, be sure you know the dates that the maintenance fees are due to the managing agents and specifically what you get for your money. It would be sensible to find out if there are any onerous restrictions in the lease. For example some leases prohibit pets being allowed in in a block in Clifton Village. If you like the propertyin Clifton Village yet your cat is not allowed to move with you then you have a very difficult compromise.