Am I correct in assuming that the fact that my conveyancer in Dunchurch is not on my mortgage company's conveyancing panel that there is a problem with the standard of her conveyancing?
That would more than likely be an incorrect assumption to make. There are all sorts of perfectly plausible explanations. Just recently a report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Dunchurch conveyancing practice and ask them why they are no longer on the approved list for your bank.
I had intended to instruct a conveyancing solicitor in Dunchurch for our house purchase. Our broker has since advised us that our bank Virgin Money won't deal with them. Why is this not regarded as unduly restrictive?
Pre- 2008 most lenders had a different appetite for risk. Almost all Dunchurch conveyancing firms would have been on many bank panels. The Financial Services Authority in 2010 completed a thematic investigation into mortgage fraud which concluded: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders have regularly sought more data from law firms about their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum volume of transactions. Many Dunchurch conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Dunchurch is amongst the many locations where the conveyancers we recommend are are approved Virgin Money.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Dunchurch. Conveyancing is necessary evil 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.
Set out below are examples of a selection of leasehold new build questions that you can expect your new-build leasehold conveyancing in Dunchurch
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. 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. Please supply a car parking plan. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I need to find a conveyancing solicitor for leasehold conveyancing in Dunchurch. I happened to discover a site which seems to have the ideal offering If there is a chance to get all formalities done via phone that would be preferable. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
There are only Sixty One years left on my lease in Dunchurch. I am keen to get lease extension but my freeholder is absent. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the magistrate. However, you will be required to demonstrate that you or your lawyers have done all that could be expected to find the freeholder. For most situations a specialist would be helpful to try and locate and prepare a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a conveyancer in relation to proving the landlord’s absence and the application to the County Court overseeing Dunchurch.
Dunchurch Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
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Generally speaking the outlay for major works are not wrapped into the maintenance charges, although a few managing agents in Dunchurch ask leasehold owners to pay into a sinking fund created for the specific intention of building a fund for major works. This information is important as a) areas could cause problems in the building as the communal areas may start to deteriorate where repairs remain unpaid b) if the leaseholders have a dispute with the managing agents you will want to know about it How many years are left on the lease?
Me and my fiance are about to exchange buying a property in Dunchurch but as a result of damage from the recent storms I have negotiated reparation from the current proprietors of £2k taking the form of a deduction in the price. This was going to be addressed as part of the conveyancing process however the lender will not agree to this. Why were they involved?
Your solicitor being on the mortgage company approved list is required to advise the mortgage company of any changes to the purchase amount. In the event that you prohibit your lawyer to disclose the reduction to your mortgage company then they would have to refrain from representing you and the lender.