I am selling my house in Garstang and the EA has just telephoned to advise that the buyers are appointing a new property lawyer. The excuse is that the mortgage company will only engage with solicitors on their approved list. On what basis would a big named lender only work with specific solicitors rather the firm that they want to choose for their conveyancing in Garstang ?
Lenders have always had panels of law firms that can represent them, but in the last few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies point to the increase in fraud by way of justification for the pruning – criteria have been tightened as a smaller panel is easier to monitor. 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. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are unlikely to have any impact on this.
we are a couple who decided to purchase a newbuild flat in Garstang with a homeloan from Britannia.We use our Garstang conveyancing solicitor but Britannia says his firm is not listed on their "panel". We have to appoint a Britannia panel firm or keep our high street solicitor and pay for a Britannia panel lawyer to act for them. This seems very unfair; is there anything we can do?
No, not really. The loan offered to you is subject to its terms and conditions, a common one being that conveyancers must be on the Britannia approved list. in the past, most banks had large numbers of law firms 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 Britannia
I am assisting my sister sell her property in Garstang. Will the solicitor commission the energy performance certificate or it is for the seller to coordinate?
After the demise of Home Information Packs, EPC’s was left as a compulsory element of selling a house. An EPC should be to hand prior to the property being advertised. This is not a task that conveyancers normally organise. Where you are instructing a Garstang conveyancing solicitor they may help arrange EPC’s due to their relationships with reputable Garstang providers
We had chosen conveyancing lawyers with offices in Garstang on the Principality solicitor panel. They are now charging me a supplemental charge for the legal aspects of the Principality mortgage. Is this a supplemental conveyancing fee set by Principality?
As unfair as it may appear, as long as it’s in their Terms of Engagement or estimate then yes your solicitor can levy a fee for this. This charge is not set by Principality but by your Garstang property lawyer. Some firms on the Principality panel will levy ’dealing with mortgage’ fee and others do not.
RBS have agreed my mortgage in principle, my offer on a house in Garstang has been agreed to, what are the next steps?
The estate agent will need to know who your solicitors are (make sure the property lawyers are on the bank’s panel). Telephone RBS or the financial adviser and finalise any appropriate documentation. RBS will instruct a valuer who will get in touch with the estate agent or seller to arrange an appointment. Once conducted (assuming no problems) it takes on average ten days to get a mortgage offer. RBS will send the offer to you and your conveyancers. The transaction will then take it’s course according the nature and complexity of the conveyancing in Garstang.
The estate agent has sent us the confirmation of our purchase of a new build flat in Garstang. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Garstang
-
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 the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
What makes your site different to other web based conveyancing brokers for conveyancing in Garstang?
At this site receive an accurate quote from a Solicitor or Licensed Conveyancer that understands the issues for your conveyancing in Garstang. Unlike many estate agents and many comparison sites we do not operate kick-back arrangements with solicitors. Some agents and online brokers 'recommend' the firm paying the most kickback, not the best value conveyancing in Garstang
Estate agents have just been given the go-ahead to market my ground floor flat in Garstang. Conveyancing lawyers have not yet been instructed, however I have just received a quarterly maintenance charge invoice – what should I do?
It best that you pay the service charge as you normally would as all rents and service invoices should be apportioned as part of the financial calculations for completion monies, so you should recover the relevant percentage by the purchaser for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Garstang Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
-
What restrictions are contained in the Garstang Lease? The best form of lease arrangement is if the freehold interest is owned by the leaseholders. In this scenario the tenants benefit from control and notwithstanding that a managing agent is often retained if the building is bigger than a house conversion, the managing agent retained by the leaseholders. Who takes charge for maintaining and repairing the block?