I am one month into the sale of my apartment in Hope and the EA has just telephoned to advise that the purchasers are appointing a new conveyancer. The excuse is that the bank will only deal with solicitors on their conveyancing panel. Why would a leading lender only work with specific lawyers rather the firm that they want to select for their conveyancing in Hope ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. 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. Your buyers are unlikely to have any sway in the decision.
I am helping my sister sell her house in Hope. Will the solicitor commission the energy assessment or it is for me to see to?
After the demise of Home Information Packs, EPC’s became a mandatory element of selling a property. An EPC needs to be to hand prior to the property being placed on the market. This is not something that conveyancers normally organise. Where you are instructing a Hope conveyancing lawyer they may be willing to arrange EPC’s due to their relationships with reputable local energy assessors
Is it the case that all Hope solicitors on the Bank of Ireland conveyancing panel are governed by the Solicitors Regulatory Authority?
As solicitors, in order to be on the Bank of Ireland conveyancing panel they would need to be overseen by the SRA. Some mortgage companies do list licenced conveyancers on their panel in which case such firms would be regulated by the CLC.
The formalities of my purchase has taken place for my property in Hope. Conveyancing was satisfactory but I would like to complain about the lender. How do I make a complaint?
Most lenders have complaints procedures. Your first port of call should be one of the lender’s branches or the Customer Services Team at head office. Ordinarily complaints to a lender are resolved effectively and efficiently. If you feel the matter is not resolved you can write to Financial Ombudsman Service who will take matters further.
Should our lawyer be asking questions concerning flooding as part of the conveyancing in Hope.
The risk of flooding is if increasing concern for conveyancers conducting conveyancing in Hope. Some people will acquire a property in Hope, completely expectant that at some time, it may be flooded. However, leaving to one side the physical destruction, where a house is at risk of flooding, it may be difficult to get a mortgage, suitable building insurance, or dispose of the premises. Steps can be carried out during the course of a house purchase to forewarn the purchaser.
Lawyers are not best placed to impart advice on flood risk, but there are a numerous searches that may be undertaken by the buyer or by their conveyancers which can figure out the risks in Hope. The conventional set of property information forms given to a purchaser’s solicitor (where the Conveyancing Protocol is adopted) contains a usual inquiry of the seller to discover whether the property has historically flooded. If flooding has previously occurred which is not notified by the seller, then a buyer may bring a claim for damages resulting from an incorrect response. A purchaser’s solicitors should also order an enviro report. This should higlight if there is a recorded flood risk. If so, further inquiries should be conducted.
How does conveyancing in Hope differ for new build properties?
Most buyers of new build residence in Hope 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 builders in Hope usually purchase the real estate, 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 conveyancing solicitors 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 Hope or who has acted in the same development.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what was supposed to be a straight forward, no chain conveyancing. Hope is where the house is located. Is there any guidance you can give?
Flying freeholds in Hope are unusual but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Hope you would need to get your solicitor to go through the deeds very carefully. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Hope may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Can you provide any top tips for leasehold conveyancing in Hope with the intention of saving time on the sale process?
- Much of the frustration in leasehold conveyancing in Hope can be bypassed where you get in touch lawyers the minute you market your property and request that they start to put together the leasehold documentation needed by the buyers’ lawyers. You believe that you know the number of years remaining on your lease but it would be advisable double-check via your conveyancers. A buyer’s lawyer will be unlikely to recommend their client to where the lease term is below 80 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you hold a share in a the Management Company, you should make sure that you have the original share document. Obtaining a replacement share certificate can be a time consuming process and delays many a Hope conveyancing transaction. If a reissued share is needed, you should approach the company officers or managing agents (where relevant) for this sooner rather than later. If you have had any disputes with your freeholder or managing agents it is essential that these are settled before the property is marketed. The purchasers and their solicitors will be reluctant to purchase a property where there is an ongoing dispute. You may have to bite the bullet and pay any arrears of service charge or resolve the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal particulars of the dispute to the buyers, but it is clearly preferable to reveal the dispute as over as opposed to unresolved.
Leasehold Conveyancing in Hope - Sample of Questions you should ask Prior to buying
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For most Hope leaseholds the outlay for major works are not included within service charges, although there some managing agents in Hope obliged tenants to contribute towards a sinking fund and this is used to offset against larger works. It would be prudent to investigate if there is anything that is prohibited in the lease. For example some leases prohibit pets being allowed in in a block in Hope. If you love the apartmentin Hope yet your dog is not allowed to make the move with you then you have a very difficult decision. The answer will be useful as a) areas may cause problems for the building as the communal areas may begin to deteriorate where maintenance are not paid for b) if the leaseholders have a dispute with the running of the building you will wish to have full disclosure