Is the fact that my solicitor in Eel Pie Island is not on my mortgage company's solicitor panel that there is a problem with the quality of her conveyancing?
That is most likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Eel Pie Island conveyancing practice and ask them why they are no longer on the approved list for your bank.
We are due to complete on the purchase of a house in Eel Pie Island but as a result of damage from a small fire at the property I have was able negotiate recompense from the current proprietors of six thousand pounds in the form of a reduction in the price. This was going to be dealt with as part of a side agreement however Leeds Building Society are not allowing this. Should they have been notified?
The property lawyer being on a Leeds Building Society conveyancing panel is duty bound to disclose to Leeds Building Society of any amendments to the purchase price. If you prohibit your solicitor to disclose the price change to Leeds Building Society then they would have to discontinue acting for you. In addition, Leeds Building Society and you would have to appoint a new solicitor for your conveyancing in Eel Pie Island.
I am remortgaging my property in Eel Pie Island, does my lawyer need to be on the Nottingham Solicitor panel?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
How does conveyancing in Eel Pie Island differ for new build properties?
Most buyers of new build property in Eel Pie Island contact us having been asked by the builder to sign contracts and commit to the purchase even before the house is finished. This is because builders in Eel Pie Island typically buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Eel Pie Island or who has acted in the same development.
Over the last few months I have been searching for a ground for flat up to £235,500 and identified one round the corner in Eel Pie Island I like with open areas and transport links nearby, the downside is that it's only got 52 years on the lease. I can't really find anything else in Eel Pie Island for this price, so just wondered if I would be making a mistake buying a short lease?
Should you require a mortgage that many years will likely be a potential deal breaker. Reduce the offer by the expected lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the current lease with a zero ground rent applied. You should speak to your conveyancing solicitor concerning this.
What does commercial conveyancing in Eel Pie Island cover?
Commercial conveyancing in Eel Pie Island covers a broad array of advice, supplied by qualified solicitors, relating to business premises. By way of example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial mortgages and the termination of leases.