My husband and I are planning to purchase a 1 bedroom flat in Crowle with a mortgage. We would like to retain our Crowle solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the mortgage company panel solicitors or continue with our Crowle lawyer as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Crowle conveyancing lawyer to apply to be on the conveyancing panel.
Is there a reason why leasehold purchase conveyancing in Crowle is more expensive?
The conveyancing costs on a leasehold property in Crowle is often more expensive as compared to a freehold property. This is due to the additional time required in communicating with the freeholder and management company to obtain information concerning whether the rent and service charges have been paid and whether there are any large sums expected to be spent in the foreseeable future on repairs or maintenance of the block.
I had intended to instruct a property lawyer in Crowle for our home move. Our financial adviser informed us that our mortgage lenders Clydesdale won't deal with them. Why is this not regarded as unfair competition?
Banks in the main imposes restrictions either the category or the number of conveyancing solicitors on their member panel. A common example of such restriction(s) being that a firm must have two or more partners. In addition to restricting the profile of firm, some have decided to limit the number of firms they use to represent them. You should note that Clydesdale have no responsibility for the quality of advice provided by any member of Clydesdale Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels since 2008 even though there are differing views about the level of solicitor involvement in some of that fraud. Data from the Land Registry reveal that plenty of law firms, including some in or near Crowle only carry out very few conveyances per annum.
This question may be naive but I am new to the house moving as FTB of a ground floor flat in Crowle. Do I receive the keys to the property on completion from my lawyer? If so, I will find a local conveyancing solicitor in Crowle?
There is no need to visit the lawyers office on the day of completion. Conveyancing lawyers for you will transfer the completion advance to the seller's lawyers, and once they have received this, you will be called to receive the keys from the selling Agents and move into your new home. Usually this occurs early afternoon.
I am expecting a AIP from UBS this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do UBS recommend any Crowle solicitors on the UBS conveyancing panel, or is it better to go independently?
You will need to appoint Crowle solicitors independently although you'll need to choose one on the UBS conveyancing panel. The solicitor represents both you and UBS through the process.
I am selling my house. I had a double glazing fitted in April 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Aldermore are being problematic. The Crowle solicitor who is on the Aldermore conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Aldermore are requiring a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I need to instruct a conveyancing solicitor in Crowle for my purchase. Is it possible to see a firm’s record with the profession’s regulator?
You may find presented Solicitor Regulator Association (SRA) decisions arising from investigations started on or after Jan 2008. Visit Check a solicitor's record. For details Pre 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The regulator may monitor call for training reasons.
I work for a long established estate agent office in Crowle where we have witnessed a number of leasehold sales put at risk as a result of leases having less than 80 years remaining. I have been given conflicting advice from local Crowle conveyancing firms. Can you confirm whether the owner of a flat can instigate the lease extension formalities for the buyer?
As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser can avoid having to wait 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the sale.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Leasehold Conveyancing in Crowle - A selection of Queries before Purchasing
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Please note that where the lease has less than 80 years it will impact the salability of the flat. Check with your bank that they are content with residual term of the lease. A short lease means that you will most likely have to extend the lease sooner rather than later and you need to have some idea of how much this will be. Remember, in most cases you would need to own the residence for two years in order to be legally able to extend the lease. You will want to discover as much as possible regarding the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to daily issues like the tidiness of the communal areas. Enquire of other people whether they are happy with their service. On a final note, be sure you understand the dates that you are obliged pay the maintenance charge to the managing agents and specifically how they are spending the funds. How much is the ground rent and service charge?