Am I correct in assuming that the fact that my solicitor in Fulwell is not listed on my bank's solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor 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 simply call the Fulwell conveyancing practice and ask them why they are no longer on the approved list for your lender.
My husband and I are only a couple days away from an exchange on a house in Fulwell and my mum and dad have transferred the 10% deposit to my property lawyer. I am now informed that as the deposit has been received from someone other than me my solicitor needs to make a notification to my mortgage company. Apparently, in also acting for the lender he must inform them that the balance of the purchase price is coming from anyone other than me. I informed the mortgage company about my parents' contribution when I applied for the mortgage, so is it really necessary for this now to hold matters up?
Your lawyer is obliged to check with mortgage company to ensure that they know that the balance of the purchase price is not from your own resources. The solicitor can only report this to your lender if you permit them to, failing which, your lawyer must cease to continue acting.
Will our solicitor be raising questions regarding flooding as part of the conveyancing in Fulwell.
Flooding is a growing risk for solicitors carrying out conveyancing in Fulwell. There are those who buy a house in Fulwell, completely aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable insurance cover, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Conveyancers are not qualified to give advice on flood risk, but there are a numerous checks that can be initiated by the buyer or by their lawyers which will figure out the risks in Fulwell. The standard completed inquiry forms sent to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) contains a standard inquiry of the seller to determine if the premises has historically flooded. In the event that flooding has previously occurred which is not revealed by the seller, then a buyer could issue a compensation claim as a result of such an misleading answer. A purchaser’s conveyancers may also commission an environmental report. This will indicate if there is any known flood risk. If so, more detailed inquiries will need to be initiated.
I opted to have a survey done on a house in Fulwell prior to instructing solicitors. I have been advised that there is a flying freehold overhang to the house. Our surveyor advised that some banks will refuse to grant a loan on such a home.
It varies from the lender to lender. Santander has different instructions for example to Birmingham Midshires. Should you wish to call us we can look into this further via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Fulwell. Conveyancing may be slightly more expensive based on your lender's requirements.
My husband and I are new to the buying process - had an offer accepted, yet the property agent informed us that the seller will only proceed if we use their preferred lawyers as they want a ‘quick sale’. We would rather use a family solicitor with experience of conveyancing in Fulwell
We suspect that the owner is unaware of this requirement. If they desire ‘a quick sale', alienating a motivated buyer is counter productive. Speak to the owners direct and explain that (a)you are genuine purchasers (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)but you are going to use your own,trusted Fulwell conveyancing lawyers - not the ones that will provide the estate agent a referral fee or meet his conveyancing figures pre-set by HQ.
Last June I purchased a leasehold house in Fulwell. Do I have any liability for service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Following years of negotiations we are unable to agree with our landlord on how much the lease extension should cost for our flat in Fulwell. Does the Leasehold Valuation Tribunal have jurisdiction to calculate the appropriate figures?
Most definitely. We are happy to put you in touch with a Fulwell conveyancing firm who can help.
An example of a Lease Extension matter before the tribunal for a Fulwell flat is Ground Floor Flat 91 Bath Road in May 2009. in a case where the freeholder could not be traced, the Brentford County Court ordered that the Lease be surrendered in return for the grant of a new lease of the Premises at a premium determined by the Leasehold Valuation Tribunal. The tribunal concluded that the price payable by the Applicant for the new lease of the premises be £15,900 This case related to 1 flat. The unexpired term was 60.45 years.