I am one month into the sale of my home in Havant and the EA has just telephoned to warn that the purchasers are switching law firm. The reason given is that the mortgage company will only work with property lawyers on their approved list. On what basis would a leading mortgage company only deal with certain lawyers rather the firm that they want to appoint for their conveyancing in Havant ?
Banks have always had an approved set of law firms they are content to work with, but in the last few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Banks point to the increase in fraud by way of justification for the pruning – criteria have been tightened 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 being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any sway in the decision.
Will commercial conveyancing searches reveal proposed roadworks that may impact a commercial land in Havant?
Many commercial conveyancing solicitors in Havant will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Havant. The search result provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Havant.
For every commercial conveyancing transaction in Havant it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been addressed adequately could cause delays to Havant commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not carried out for residential conveyancing in Havant.
I have todaydiscovered that Stirling Law have closed. They conducted my conveyancing in Havant for a purchase of a leasehold flat 18 months ago. How can I establish that my home is registered correctly in the name of the previous owner?
The easiest way to check if the premises is registered to you, you can make a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Havant conveyancing specialists.
How does conveyancing in Havant differ for new build properties?
Most buyers of new build property in Havant come to us having been asked by the developer to sign contracts and commit to the purchase even before the house is built. This is because developers in Havant usually 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 property lawyers 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 used to new build conveyancing in Havant or who has acted in the same development.
My father has urged me to appoint his lawyers for conveyancing in Havant. Should I choose my own property lawyer?
Much as we are happy to recommend a Havant conveyancing lawyer the ideal way to select a conveyancing practitioner is to seek guidance from friends or relatives who have actually previously instructed the solicitor that you are are thinking of instructing.
I work for a reputable estate agency in Havant where we have experienced a number of leasehold sales derailed due to short leases. I have been given conflicting advice from local Havant conveyancing firms. Could you shed some light as to whether the seller of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done prior to, or simultaneously with completion of the disposal of the property.
An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Havant Leasehold Conveyancing - Examples of Questions you should ask Prior to buying
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Be sure to discover if there are any onerous prohibitions in the lease. By way of example it is reasonably common in Havant leases that pets are not allowed in certain buildings in Havant. If you like the apartmentin Havant however your dog can’t move with you then you will be faced difficult determination. It is important to be aware whether changing the roof or some other major work is pending that will be shared amongst the tenants and will dramatically increase the the maintenance fees or result in a one time invoice. What prohibitions are there in the Havant Lease?