Much to our surprise we have been notified by our IFA that my Isle Of Wight the law firm I have appointed is not on the bank Conveyancing panel. How can I be sure if this is correct?
The best course of action for you to take is to call your Isle Of Wight lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your lender.
My fiance and I wish to acquire a newly converted flat in Isle Of Wight with a loan from Leeds Building Society.We would like to retain our Isle Of Wight conveyancing solicitor but Leeds Building Society informed us her practice is not listed on their "panel". It seems we are left with no choice but to instruct a Leeds Building Society panel solicitor or keep our local solicitor and fork out for one of their panel ones to represent them. This seems very unfair; Can we not simply insist that Leeds Building Society use our lawyer?
Unfortunately,no. The loan offered to you contains terms and conditions, a common one being that conveyancers must be on the Leeds Building Society solicitor panel. Until recently, most lenders had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Leeds Building Society
We are selling our property in Isle Of Wight and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a nationwide conveyancing outfit as opposed to a conveyancing solicitor in Isle Of Wight. Having lived in Isle Of Wight for many years we know of no issue. Is it a good idea to get in touch with our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You should enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
How simple is it to switch firm as I need to choose a firm on the Bank of Scotland conveyancing panel. I instructed a family conveyancing solicitor in Isle Of Wight five minutes from me but he is not approved by Bank of Scotland
We will our best to assist in finding you a conveyancing solicitor in Isle Of Wight on the Bank of Scotland panel. Please note that the property lawyers that we list do not pay us commission if you instruct them and are registered with the SRA who oversee all conveyancing solicitors in Isle Of Wight. In utilising the find a conveyancing solicitor tool on this site, you can compare and instruct different solicitors and conveyancers both nationally and in Isle Of Wight.
I work for a long established estate agent office in Isle Of Wight where we have witnessed a number of flat sales jeopardised due to leases having less than 80 years remaining. I have been given contradictory information from local Isle Of Wight conveyancing firms. Please can you clarify whether the vendor of a flat can instigate the lease extension process for the buyer?
As long as the seller has been the owner 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. The benefit of this is that the proposed purchaser 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 before, or at the same time as 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 buyer.
Isle Of Wight Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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How many years remain on the lease? Be sure to investigate if there is anything that is prohibited in the lease. For example it is very common in Isle Of Wight leases that pets are not permitted in in a block in Isle Of Wight. If you like the apartmentin Isle Of Wight but your cat is not allowed to make the move with you then you have a very difficult determination. Can you inform me if there are any major works in the near future that could add a premium to the maintenance costs?
I am purchasing a house and require a conveyancing solicitor in Isle Of Wight who is on the lender solicitor panel. Could you point me in the right direction as regards a Isle Of Wight conveyancing firm?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for the bank who conduct conveyancing in Isle Of Wight. We dont recommend any particular conveyancing practice.