My wife and I are purchasing a 2 bedroom flat in Groby with a mortgage. We have a Groby solicitor, but the lender advise she’s not on their "panel". It seems we have no choice but to instruct one of the bank panel firms or keep our Groby solicitor and pay for one of their panel ones to act for them. We regard this is unjust; is there anything we can do?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Groby conveyancing lawyer to apply to be on the conveyancing panel.
Are the BSA planning on creating a online directory to list solicitors on the Norwich and Peterborough Building Society conveyancing panel for example in Groby?
Lexsure has not been advised of any intention on the part of the BSA to promote such a register.
What can a local search tell me regarding the property we're buying in Groby?
Groby conveyancing often starts with the submitting local authority searches directly from your local Authority or through a personal search organisations for instance Searches UK The local search plays a central role in many a Groby conveyancing purchase; that is if you wish to avoid any unpleasant surprises after you move into your property. The search will reveal information on, amongst other things, details on planning applications applicable to the property (whether granted or refused), building control history, any enforcement action, restrictions on permitted development, nearby road schemes, contaminated land and radon gas; in all a total of thirteen topic areas.
I have a 4 bedroom Victorian house in Groby. Conveyancing lawyer acted for me and Virgin Money. I did a free Land Registry search last week and there are two entries: one for freehold, another for leasehold with the matching property. Is it worth asking Virgin Money to clarify?
You should read the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Groby and other locations in the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with mortgage companies. You can also enquire as to the position with your conveyancing practitioner who conducted the work.
How does conveyancing in Groby differ for new build properties?
Most buyers of new build or newly converted property in Groby approach us having been asked by the housebuilder to exchange contracts and commit to the purchase even before the residence is completed. This is because new home sellers in Groby tend to acquire the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Groby or who has acted in the same development.
Our conveyancer has advised that he intends to complete and exchange simultaneously on our sale of a £450,000 apartment in Groby in nine days. The management company has quoted £336 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Groby?
For the majority of leasehold sales in Groby conveyancing will involve, queries regarding the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Addressing pre-exchange enquiries
Where consent is required before sale in Groby
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Groby Leasehold Conveyancing - A selection of Queries before buying
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How long is the Lease? The answer will be important as a) areas may cause problems for the block as the common areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the running of the building you will need to have full disclosure On the whole the cost for major works are not included within maintenance charges, albeit that there some managing agents in Groby obliged leaseholders to contribute towards a sinking fund and this is used to offset against major works.