I am in the process of selling my home in Crews Hill and the EA has just e-mailed to say that the buyers are changing their conveyancer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a leading mortgage company only work with certain law firms rather the firm that they want to appoint to handle their conveyancing in Crews Hill ?
Lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to monitor. No lender will say 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. 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 unlikely to have any sway in the decision.
My son is buying a house that has just been built in Crews Hill with a mortgage from Leeds Building Society. His conveyancer has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The document is intended to provide information to the main parties involved in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Leeds Building Society conveyancing panel as a standard part of the process, and to the surveyor when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Leeds Building Society conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
This question may be naive but I am unexperienced as a 1st time purchaser of a ground floor flat in Crews Hill. Do I receive the keys to the premises on the completion date from my lawyer? If so, I will appoint a local conveyancing solicitor in Crews Hill?
On the day of completion you do not need to attend the conveyancers office in Crews Hill. Conveyancing lawyers for you will arrange to send the purchase money to the vendor’s lawyers, and once they have received this, you should be called to collect the keys from the selling Agents and start moving into the property. Usually this occurs early afternoon.
My aunt informed me that in buying a property in Crews Hill there may be various restrictions as to what one can do in terms of external alterations to the property. Is this right?
We are aware of anumerous of properties in Crews Hill which have some sort of restriction or requirement of consent to carry out external alterations. Part of the conveyancing in Crews Hill should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I currently have a mortgage with Leeds Building Society for my property in Crews Hill. Conveyancing has been completed some time ago. In the event that I decide to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a buy-to-let mortgage or inform Leeds Building Society?
Leeds Building Society must be informed of your intention prior to renting your property as this is likely to be a breach of Leeds Building Society’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Leeds Building Society directly. You need not do this via a Leeds Building Society conveyancing panel lawyer.
The estate agent has sent us the confirmation of our purchase of a new build flat in Crews Hill. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Crews Hill
-
Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Please confirm the Lease plans are surveyor prepared. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the input of my in-laws I had a survey completed on a property in Crews Hill prior to appointing lawyers. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some banks tend not grant a loan on this type of property.
It varies from the lender to lender. Santander has different instructions from Nationwide. If you e-mail us we can look into this further with the appropriate lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Crews Hill. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Crews Hill to see if the conveyancing costs will increase in light of this.
I am downsizing from my home. My former lawyers have shut. I would be grateful for any recommendation of a conveyancing firm. Im based in Crews Hill if that affects matters.
Please use our search tool to help you find a solicitor for your conveyancing in Crews Hill. We have connected thousands of home buyers and sellers with regulated solicitors to ensure that the legalities of their house move runs smoothly.