I had intended to instruct a conveyancing solicitor in Ely for our house move. Our broker informed us that our bank HSBC Bank won't deal with them. Surely this is unfair competition?
A bank will insist on a panel solicitor act for it. Borrowers are liable to bear the charges for this. Do use our database to locate a solicitor to carry conveyancing in Ely on the HSBC Bank approved list of solicitors.
Will my solicitor be raising questions concerning flooding as part of the conveyancing in Ely.
The risk of flooding is if increasing concern for solicitors conducting conveyancing in Ely. There are those who buy a property in Ely, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable insurance cover, or sell the property. There are steps that can be taken during the course of a property purchase to forewarn the purchaser.
Solicitors are not qualified to impart advice on flood risk, however there are a numerous searches that can be carried out by the buyer or by their conveyancers which should figure out the risks in Ely. The standard information supplied to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to determine whether the property has historically flooded. If the premises has been flooded in past and is not notified by the vendor, then a buyer may bring a compensation claim as a result of such an inaccurate reply. A buyer’s conveyancers will also order an environmental search. This will disclose whether there is any known flood risk. If so, more detailed investigations will need to be conducted.
About to purchase a new build apartment in Ely. Conveyancing is a frightening process 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 enquiries that you may expect your new-build leasehold conveyancing in Ely
-
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. 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 confirm the Lease plans are architect prepared. 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. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
We're FTB’s - had an offer accepted, but the property agent advised that the owners will only issue a contract if we appoint the agent's preferred solicitors as they want an ‘expedited deal’. We would rather use a family conveyancer with experience of conveyancing in Ely
It is unlikely the sellers are behind this. If they require ‘a quick sale', taking such a hostile approach to a serious purchaser is likely to cause more damage than good. Bypass the agents and go straight to the owners and explain that (a)you are keen to buy (b)you are ready to progress, with mortgage lined up © you are unencumbered (d) you intend to proceed fast (e)however you intend to use your own,trusted Ely conveyancing firm - not the ones that will provide the negotiator at the agency a introducer fee or achieve conveyancing thresholds demanded by corporate headquarters.
I only have Fifty years unexpired on my lease in Ely. I now wish to extend my lease but my landlord is can not be found. What are my options?
If you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be granted an extra 90 years by the Court. However, you will be required to prove that you or your lawyers have done all that could be expected to track down the freeholder. For most situations a specialist should be helpful to try and locate and to produce a report which can be accepted by the court as evidence that the freeholder can not be located. It is advisable to get professional help from a property lawyer in relation to devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Ely.
Ely Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
-
Is there a share of the freehold? The answer will be important as a) areas can cause problems in the block as the communal areas may start to deteriorate where repairs are not paid for b) if the leasehold owners have a dispute with the managing agents you will need to know about it Its a good idea to find out as much as you can about the managing agents as they will either make living at the property much simpler or problematic. As the proprietor of a leasehold property you are frequently in the clutches of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the common parts. Don't be shy to ask prospective neighbours what they think of them. In conclusion, be sure you discover the dates that the service fees are due to the managing agents and precisely what it includes.
Our conveyancer in Ely has uncovered a a legal deficiency with the lease for the apartment we are buying in Ely. The other side have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our lawyer says that as he is on the bank conveyancing panel he must ensure that the lender is happy with this solution. Are we the client or is the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the bank are the client. A precondition to being on the bank approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the lender can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . 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.