I am nearing exchange of contracts for my ground floor flat in Cricklade and the EA has just called to say that the purchasers are switching conveyancer. The reason given is that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a major lender only engage with certain lawyers rather the firm that they want to select for their conveyancing in Cricklade ?
Mortgage companies 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 worked with them for decades.
Mortgage companies point to the increase in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal 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. The purchasers are not going to have any impact on this.
The Cricklade conveyancing firm handling our Cricklade conveyancing has discovered an inconsistency when comparing the assumptions in the home valuation report and what is in the title deeds. My lawyer has advised that he needs to ensure that the bank is happy with this discrepancy and is content to go ahead. Is my solicitor’s approach correct?
Your lawyer must comply with the UK Finance Lenders’ Handbook requirements which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.
Are there restrictive covenants that are commonly picked up during conveyancing in Cricklade?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Cricklade. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Due to the advice of my in-laws I had a survey completed on a property in Cricklade prior to instructing solicitors. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some mortgage companies may refuse to issue a loan on this type of house.
It varies from the lender to lender. Santander has different instructions from Halifax. Should you wish to telephone us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Cricklade. Conveyancing may be slightly more expensive based on your lender's requirements.
In my capacity as executor for the estate of my uncle I am selling a residence in Swansea but reside in Cricklade. My solicitor (who is 200 kilometers from merequires that I sign a stat dec ahead of completion. Can you recommend a conveyancing solicitor in Cricklade to witness and place their company stamp on the document?
strictly speaking you are not likely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are based in Cricklade
I've found a house that seems to tick a lot of boxes, at a reasonable figure which is making it all the more appealing. I have since found out that it's a leasehold as opposed to freehold. I am assuming that there are issues buying a house with a leasehold title in Cricklade. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the implications of buying a leasehold house in Cricklade ?
Most houses in Cricklade are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Cricklade in which case you should be looking for a Cricklade conveyancing solicitor and check that they have experience in transacting on leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be at liberty to do whatever you want to the property. The lease comes with conditions such as obtaining the landlord’spermission to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
Cricklade Conveyancing for Leasehold Flats - Examples of Queries before buying
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What restrictions are contained in the Cricklade Lease? The answer will be useful as a) areas can cause problems for the building as the common areas may begin to deteriorate if maintenance remain unpaid b) if the leaseholders have an issue with the managing agents you will need to have all the details It would be prudent to find out if there are any onerous prohibitions in the lease. For example it is reasonably common in Cricklade leases that pets are not allowed in in a block in Cricklade. If you love the flatin Cricklade but your dog can’t make the move with you then you will be faced difficult determination.