Am I correct in assuming that the fact that my solicitor in Houghton Le Spring is not identified on my bank's conveyancing panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are all sorts of perfectly reasonable explanations. Just recently a report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should contact the Houghton Le Spring conveyancing practice and enquire why they are no longer on the approved list for your lender.
I am expecting a AIP from Nationwide this week so we know how much we could potentially offer as otherwise we are dependent on web based calculators (which aren't taking into account credit checks etc). Do Nationwide recommend any Houghton Le Spring solicitors on the Nationwide conveyancing panel, or is it better to find our own lawyer?
You will need to appoint Houghton Le Spring solicitors independently although you'll need to choose one on the Nationwide conveyancing panel. The solicitor represents both you and Nationwide through the process.
I am currently in the process of buying my council flat in Houghton Le Spring. I have a mortgage offer with HSBC. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with HSBC, you will need to appoint a solicitor on the HSBC conveyancing panel.
I have a mortgage with HSBC for my property in Houghton Le Spring. Conveyancing was finalised a year ago. Should I wish to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform HSBC?
HSBC must be informed of your intention before renting your property as this is likely to be a breach of HSBC’s mortgage conditions. In many cases banks or building societies will allow you to rent out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact HSBC directly. You need not do this via a HSBC conveyancing panel firm.
About to purchase a new build flat in Houghton Le Spring. 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.
Set out below is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Houghton Le Spring
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Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. 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.
I decided to have a survey completed on a property in Houghton Le Spring before retaining conveyancers. I have been advised that there is a flying freehold aspect to the house. The surveyor advised that some banks will not issue a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions for example to Nationwide. If you contact us we can check via the relevant bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Houghton Le Spring. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Houghton Le Spring to see if the conveyancing costs will increase in light of this.
My cousin has recommend that I appoint his conveyancers in Houghton Le Spring. Should I use them?
No doubt the ideal way to choose a conveyancing solicitor is to seek referrals from friends or relatives who have used the firm you're considering.
Builders have suggested I use a conveyancing practitioner and I've obtained a quote from them. They are almost three hundred pounds cheaper than my preferred Houghton Le Spring conveyancing practitioner. Should I use them?
Developers normally have lists of lawyers who are quick and who know the seller’s documentation and solicitor. Plenty of developers offer an inducement to select their approved property lawyer for this reason, any increased cost can be avoided and a developer won't put forward a conveyancing factory and run the risk of having the conveyancing stall when they need an exchange within a tight time frame. The argument for not opting for the recommended conveyancing practitioner is that they may be unwilling to fight for your interests at the risk of alienating the developer. If you worry that this may be the situation you should keep with your high street Houghton Le Spring conveyancing practitioner.