My wife and I are hoping to purchase a home in Forest of Dean and are in fact using a Forest of Dean conveyancing practice. Within the last couple of days our conveyancer has sent a preliminary report and documents to look through with a view to exchanging next week. Barclays have this morning contacted us to inform me that there is now an issue as our Forest of Dean solicitor is not on their conveyancing panel. Is this a problem?
If you are buying a property with the assistance of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Forest of Dean lawyers, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
Do lenders provide you with an approved list of Forest of Dean conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Forest of Dean conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
I am considering applying for a Lloyds mortgage for purchase of a newly converted (under development) in Forest of Dean with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Lloyds ?
There is nothing to stop you using your solicitor, but Lloyds will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
We are downsizing from our home in Forest of Dean and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Forest of Dean conveyancer would know this is not the case. It does beg the question why the buyers are using an online conveyancing outfit rather than a conveyancing solicitor in Forest of Dean. We have lived in Forest of Dean for three years we know that this is a non issue. Should we get in touch with our local Authority to obtain confirmation that there is no issue.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same illness)
Just had an offer accepted on a new build flat in Forest of Dean. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Forest of Dean
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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. There must be mutual enforceability of lessee’s covenants. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I decided to have a survey completed on a house in Forest of Dean before instructing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will refuse to grant a mortgage on a flying freehold house.
It depends who your proposed lender is. HSBC has different requirements from Halifax. If you e-mail us we can look into this further via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Forest of Dean. Conveyancing may be slightly more expensive based on your lender's requirements.