I am in the process of selling my apartment in Halstead and the estate agent has just e-mailed to say that the buyers are changing their conveyancer. The reason given is that the bank will only work with property lawyers on their conveyancing panel. Why would a major mortgage company only deal with specific law firms rather the firm that they want to choose for their conveyancing in Halstead ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for decades.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Plenty of firms 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 buyers are not going to have any sway in the decision.
I am need of leasehold conveyancing for a flat in a fairly new development (6 years old) in Halstead. Almost all the properties are already sold. Do I need carry out the neighbourhood searches as part of conveyancing in Halstead?
Where you are obtaining a loan, your bank will need some (many) of the searches so you'll have no choice. If not, then Halstead conveyancing searches are optional. Your solicitor, will 'advise', perhaps strongly, that you should not go ahead without searches, but he or she has a professional duty to do this. One thing to bear in mind; if you are likely to sell the house one day, it may be of interest to your future buyer what the searches contain. Sometimes houses with no practical issues can still throw up adverse search results. But if you demand that your lawyer to proceed without searches then your lawyer will have to follow your instructions or it may be necessary to instruct a new lawyer for your conveyancing in Halstead.
Just had an offer accepted on a new build flat in Halstead. Conveyancing is necessary evil 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.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Halstead
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Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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.
Due to the advice of my in-laws I had a survey completed on a house in Halstead in advance of appointing solicitors. I have been informed that there is a flying freehold overhang to the property. The surveyor advised that some mortgage companies may refuse to give a loan on a flying freehold property.
It varies from the lender to lender. Bank of Scotland has different requirements for example to Nationwide. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Halstead. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Halstead to see if the conveyancing costs will increase in light of this.
Is it best to appoint a Halstead conveyancing solicitor who is local to the property I am buying? I have an old university friend who can deal with the legal formalities but her office is 400kilometers away.
The benefit of a local Halstead conveyancing firm is that you can pop in to sign documents, hand in your ID and pester them if necessary. Having local Halstead know how is a bonus. That being said nothing is more important than finding someone that will do a good and efficient job. If if people you trust used your friend and on the whole were content that should surpass using an unknown Halstead conveyancing lawyer just because they are local.
Why can't I complete our conveyancing in Halstead on Good Friday?
Because on completion the money will pass between the banks of the purchaser and owner’s conveyancing practitioner and at present this can only occur on a business day. So you can't complete on a saturday or sunday either.