I am progressing with the sale of my apartment in Fawley and the EA has just text me to warn that the buyers are appointing a new law firm. I am told that this is due to the fact that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a leading lender only deal with certain lawyers rather the firm that they want to choose for their conveyancing in Fawley ?
Lenders have always had panels of law firms that can represent them, but in the last few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks justify this action to a rise in fraud by way of justification for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms 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. The purchasers are unlikely to have any sway in the decision.
I am the registered owner of a freehold residence in Fawley but nevertheless invoiced for rent, why is this and what is this?
It is rare for properties in Fawley and has limited impact for conveyancing in Fawley but some freehold properties in England (particularly common in North West England) pay an annual sum known as a Chief Rent or a Rentcharge to a third party who has no other legal interest in the land.
Rentcharge payments are usually between £2.00 and £5.00 per year. Rentcharges date back hundreds of years, but the Rent Charge Act 1977 barred the creation of new rentcharges from 1977 onwards.
Old rentcharges can now be redeemed by making a one off payment under the Act. Any rentcharges that are still in existence post 2037 is to be dispensed with completely.
I am buying a flat and require a conveyancing solicitor in Fawley who is on the National Westminster Bank solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for National Westminster Bank in certain locations such as Fawley. We dont recommend any particular firm.
Should commercial conveyancing searches disclose proposed roadworks that could affect a commercial property in Fawley?
Many commercial conveyancing solicitors in Fawley will order a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in Fawley. The search result provides definitive data on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Fawley.
For every commercial conveyancing transaction in Fawley it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately could result in delays to Fawley commercial conveyancing deals as well as present a risk to future intentions for the site. These searches are not ordered for residential conveyancing in Fawley.
Due to the advice of my in-laws I had a survey completed on a property in Fawley ahead of instructing lawyers. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some mortgage companies will not give a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. Should you wish to telephone us we can check with the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Fawley. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Fawley to see if the conveyancing will be more expensive.
I've found a house that seems to be perfect, at a reasonable price which is making it more attractive. I have subsequently found out that it's a leasehold as opposed to freehold. I am assuming that there are particular concerns purchasing a leasehold house in Fawley. Conveyancing advisers have are about to be instructed. Will they explain the issues?
Most houses in Fawley are freehold and not leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can help the conveyancing process. It is clear that you are buying in Fawley so you should seriously consider looking for a Fawley conveyancing solicitor and check that they are used to dealing with leasehold houses. As a matter of priority you will need to check the unexpired lease term. Being a tenant you will not be entirely free to do whatever you want to the property. The lease comes with conditions for example requiring the freeholder’sconsent to conduct changes to the property. You may also be required to pay a service charge towards the upkeep of the estate where the house is part of an estate. Your lawyer will appraise you on the various issues.