I am nearing exchange of contracts for my house in Dawley and Lawley and the EA has just e-mailed to say that the purchasers are switching solicitor. I am told that this is due to the fact that the bank will only deal with property lawyers on their conveyancing panel. Why would a leading lender only deal with specific law firms rather the firm that they want to choose to handle their conveyancing in Dawley and Lawley ?
Banks have always had an approved set of law firms they are content to work with, but in recent years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions justify this action to a rise in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to disclose 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. Your buyers are not going to have any impact on this.
My fiancee and I are acquiring our first house. Our solicitor has calledto enquire if we want to purchase supplemental conveyancing searches. We are really unsure what's needed for conveyancing in Dawley and Lawley
The quantity and type of Dawley and Lawley conveyancing searches depends entirely on the property, the location, the probability of any of these risks, your knowledge of the locality and risks, your general attitude to risk. What matters is that you adequately appreciate what information each search could supply. You may then make a decision if you personally think you need that search. Should you be unsure, ask your lawyer to explain.
I am purchasing a new build flat in Dawley and Lawley. Can I do my own conveyancing?
Leaving aside the complexities and merits of DIY conveyancing in Dawley and Lawley you will have to appoint a solicitor on your bank's conveyancing panel to look after their interests. Most people therefore find it easier to let the solicitor act for them and the lender. Furthermore there is minimal cost savings to be made in you doing conveyancing for yourself and another lawyer conducting the conveyancing for the lender. Please feel free to use the search tool to find a lawyer on your lender panel in Dawley and Lawley.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on two weeks back in what was supposed to be a simple, no chain conveyancing. Dawley and Lawley is the location of the property. Can you shed any light on this issue?
Flying freeholds in Dawley and Lawley are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Dawley and Lawley you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Dawley and Lawley may determine 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.
We are 18 days into a freehold purchase having been referred to conveyancers by the selling agent to handle our conveyancing in Dawley and Lawley. I am am very disappointed with the quality of service. Could you help me find new solicitors?
A lawyer would have to be very poor in order to consider replacing them. Has the mortgage been generated? If so you need to advise them of the new contact details and ensure the offer are re-sent. Your conveyancer needs to be on the banks approved list to avoid added expenses and complications. That should be your first question of the new conveyancers. The search tool should help you find a bank approved lawyer for your home move in Dawley and Lawley
I am employed by a long established estate agency in Dawley and Lawley where we see a few leasehold sales derailed due to leases having less than 80 years remaining. I have received conflicting advice from local Dawley and Lawley conveyancing solicitors. Please can you confirm whether the owner of a flat can start the lease extension process for the buyer?
Provided that the seller has been the owner 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. This means that the proposed purchaser need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed prior to, or at the same time as completion of the disposal of the property.
An alternative approach is 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 Dawley and Lawley - A selection of Questions you should ask before Purchasing
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Is anyone aware of any major works in the near future that could increase the maintenance fees? It would be wise to find out if there are any onerous restrictions in the lease. For instance plenty of leases prohibit pets being allowed in in a block in Dawley and Lawley. If you like the apartmentin Dawley and Lawley yet your cat is not allowed to make the move with you then you will be faced hard decision. Generally speaking the cost for major works tend not to be incorporated into the maintenance charges, although some managing agents in Dawley and Lawley ask leasehold owners to contribute towards a reserve fund created for the specific intention of establishing a fund for larger repairs or maintenance.