I am selling my house in Ferndown and the estate agent has just text me to warn that the buyers are changing their property lawyer. The excuse is that the bank will only deal with solicitors on their conveyancing panel. On what basis would a major mortgage company only work with certain law firms rather the firm that they want to choose for their conveyancing in Ferndown ?
Banks have always had panels of law firms that can represent them, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Mortgage companies point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. No lender will say 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. Some 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 not going to have any sway in the decision.
My fiance and I decided to purchase a newbuild apartment in Ferndown with a mortgage from Lloyds TSB Bank.We use our Ferndown conveyancing solicitor but Lloyds TSB Bank informed us her practice is not listed on their "panel". We have to appoint a Lloyds TSB Bank panel lawyer or keep our high street solicitor and pay for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Lloyds TSB Bank use our lawyer?
Unfortunately,no. The home loan offered to you is subject to its various provisions, a common one being that lawyers needs to be on the Lloyds TSB Bank approved list. Until recently, most banks had large numbers of solicitors on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your solicitors to apply to be on the conveyancing panel for Lloyds TSB Bank
I have been on the look out for a flat up to £245,000 and identified one close by in Ferndown I like with open areas and railway links in the vicinity, however it's only got 52 years unexpired on the lease. I can't really find anything else in Ferndown for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the remaining unexpired lease term may be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current owner has owned the premises for at least twenty four months you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer regarding this matter.
I need to instruct a conveyancing practitioner in Ferndown for my home move. Can I see a firm’s record with the profession’s regulator?
Anyone can find documented Solicitor Regulator Association (SRA) determinations arising from investigations from 2008 onwards. Visit Check a solicitor's record. For information about the period before 1 January 2008, or to check a solicitors history, telephone 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, use +44 (0)121 329 6800. The SRA may recorded call for training purposes.
Completion is due on the sale of our £475,000 flat in Ferndown next Friday. The freeholder has quoted £312 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is the landlord entitled to charge an administration fee for a flat conveyance in Ferndown?
Ferndown conveyancing on leasehold flats nine out of ten times involves administration charges raised by freeholders :
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Completing pre-exchange questions
Where consent is required before sale in Ferndown
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Ferndown - Sample of Queries Prior to buying
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It would be sensible to discover as much as possible about the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents both financially and when it comes to practical issues such as the tidiness of the communal areas. Ask prospective neighbours what they think of their management. In conclusion, be sure you know the dates that the service fees are due to the managing agents and specifically what you get for your money. This information is helpful as a) areas may cause problems for the block as the communal areas may start to deteriorate where repairs are not paid for b) if the tenants have a dispute with the running of the building you will wish to know about it Is anyone aware of any major works in the planning that will likely increase the maintenance costs?
As a tenant I am on the hook for a service charge for my first floor flat in Ferndown. Due to losing my job and personal issues I fell behind with remittance. I negotiated a payment plan but there is still a couple of currently outstanding.
I now wish to sell and I am panicking this will threaten to derail the sale if I have to settle the arrears now. Do I have to settle before - is this viable?
Your lawyer should be in a position to negotiate with the management company, with a new to seeing if they would accept settlement from sale proceeds. This is an example of why it is advisable to select a lawyer in Ferndown as they are likely to have a strong line of communication with the parties.