Am I correct in assuming that the fact that my conveyancer in Fenny Stratford is not on my bank's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
It would not be wise to jump to that conclusion. There are plenty of plausible explanations. Just recently a report by the solicitors regulator revealed 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 Fenny Stratford conveyancing firm and ask them why they are no longer on the approved list for your mortgage company.
Is there a reason why leasehold purchase conveyancing in Fenny Stratford costs more?
In short, leasehold conveyancing in Fenny Stratford and elsewhere usually involve extra work compared to freehold transactions. This includes analysing the lease terms, communicating with the landlord concerning the service of required notices, procuring current service charge and management information, procuring the landlord’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different leaseholders have owned the lease since it was first granted.
There are a variety of conveyancing solicitors in Fenny Stratford but how do I know who I should use?
Do not opt for the cheapest Fenny Stratford conveyancing costs illustration. You really do get what you pay for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you go into the conveyancing with your eyes wide open.
Is it the case that all Fenny Stratford CQS (Conveyancing Quality Scheme) solicitors are on the Virgin Money conveyancing panel?
It is true that some banks and building societies now utilise the accreditation scheme as the kick off point for Panel approval such as HSBC and Santander. CQS accreditation however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for firms wishing to join their panels.
After much negotiation I have agreed a price on an apartment in Fenny Stratford. My mortgage broker suggested a property lawyer. I paid an upfront payment of £225. A few days later, the property lawyer called me to say that they were not on the Nationwide conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Nationwide panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
The deeds to our property can not be found. The lawyers who did the conveyancing in Fenny Stratford 10 years ago have long since closed. What are my next steps?
As long as you have a registered title the details of your ownership will be documented by HMLR under a Title Number. It is possible to perform a search at the Land Registry, find your house and get current copies of the Registered Entries for less than a fiver. If the title is Leasehold then the Land Registry will usually retain a file copy of the Registered Lease and again, a copy can be obtained for £20 inclusive of VAT.
I'm buying my first flat in Fenny Stratford with a loan from Barnsley Building Society. The developers refused to reduce the amount so I negotiated £7000 of fixtures and fittings instead. The estate agent told me not inform my lawyer about this deal as it will affect my loan with the lender. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
In what way can the Landlord & Tenant Act 1954 impact my business property in Fenny Stratford and how can you help?
The 1954 Act provides security of tenure to commercial leaseholders, granting the dueness to make a request to court for a continuation of occupancy when the lease reaches an end. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing practices who use the act to your advantage and help with commercial conveyancing in Fenny Stratford