My partner and I are looking to buy a house in Highbridge and are in fact using a Highbridge conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Norwich and Peterborough Building Society have this morning contacted us to advise us that they have now hit a problem as our Highbridge solicitor is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is usual for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should contact your lender and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Highbridge lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
I am planning to move property in June. Does my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you suggest a removal company in Highbridge. Conveyancing solicitor was organised before I stumbled across your page.
On the day of completion you can pick up the house keys from your property agent however this can only happen after the sellers solicitors confirm to the agent that they have the completion monies and the keys can be collected. Subsequently you will need to inform the removal company that you are ready to move in. As a matter of policy we do not suggest a specific removal company but can assist you in choosing a conveyancing in Highbridge or a firm that specialises in conveyancing in Highbridge.
When it comes to mortgage companies such as Principality, do Highbridge lawyers incur a fee to be on the conveyancing panel?
We are unaware of any mortgage company fees to be on their list of approved firms, although some do charge an administration charge to deal with the processing of the conveyancing panel submission.
We expect to receive a DIP from Kent Reliance this week so we can work out what to offer on a property we like as otherwise we only have online calculators to go by (which aren't taking into account credit checks etc). Do Kent Reliance recommend any Highbridge solicitors on the Kent Reliance conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Highbridge solicitors independently although you'll need to choose one on the Kent Reliance conveyancing panel. The solicitor represents both you and Kent Reliance through the process.
My colleague recommended that if I am purchasing in Highbridge I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Highbridge conveyancing searches. It is not a small document of about 40 pages, listing and setting out important information about Highbridge around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Highbridge Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Local Education with plans and statistics, Local Amenities and other useful information regarding Highbridge.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Highbridge. 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 conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Highbridge
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Please supply a car parking plan. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Completion is due on our sale of a £300,000 flat in Highbridge next Thursday. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge such fees for a flat conveyance in Highbridge?
Highbridge conveyancing on leasehold maisonettes more often than not necessitates the buyer’s lawyer sending questions for the landlord to address. Although the landlord is not legally bound to answer these enquiries the majority will be willing to do so. They are at liberty to charge a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of rights and obligations in relation to administration fees, otherwise the invoice is not strictly payable. In reality one has no choice but to pay whatever is requested of you should you wish to complete the sale of your home.
Highbridge Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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The answer will be important as a) areas can result in problems in the building as the common areas may start to deteriorate if services are not paid for b) if the leasehold owners have a dispute with the managing agents you will want to have complete disclosure For many Highbridge leaseholds the outlay for major works tend not to be built into the service charges, albeit that some managing agents in Highbridge require leasehold owners to pay into a sinking fund created for the specific purpose of building a fund for larger repairs or maintenance. Who are the managing agents?
Our conveyancer in Highbridge has uncovered a a legal deficiency with the lease for the flat we are buying in Highbridge. The seller’s lawyers have suggested title insurance as a solution. We are happy with insurance and will pay for it. Our solicitor has advised that as he is on the lender conveyancing panel he must ensure that the lender is happy with this solution. Who is the client here, us or the lender?
The short answer to your last question is that, notwithstanding the potential for a conflict of interest, you and the lender are the client. A precondition to being on the lender approved panel is to comply with the UK Finance Lenders’ Handbook requirements. The UK Finance Lenders’ Handbook conditions require your lawyer to disclose issues such as defects will the lease so that the bank can be afforded the opportunity to check with their valuer as to the extent that the value of the property is affected . Should you refuse to allow your lawyer to make the appropriate notification then your lawyer will have no choice but to discontinue acting for you.