Is the fact that my conveyancer in Lacock is not listed on my mortgage company's conveyancing panel that there is a problem with the quality of her conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) lack of transactions (2) the solicitor 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 simply call the Lacock conveyancing practice and ask them why they are no longer on the approved list for your lender.
Our Lacock solicitor has identified a difference between the assumptions in the home valuation report and what is in the title deeds. My solicitor has advised that he is obliged to ensure that the lender is happy with this discrepancy and is content to go ahead. Is my solicitor’s stance appropriate?
Your property lawyer must comply with the UK Finance Lenders’ Handbook conditions which do require that your lawyer disclose any incorrect assumptions in the lender’s valuation report and the legal papers. 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.
The deeds to my property are lost. The solicitors who dealt with the conveyancing in Lacock 5 years ago have long since closed. What are my next steps?
Gone are the days when you need to have the physical official documentation to prove you are the owner of your registered land or premises, as the Land Registry have everything they need in a digital format.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Lacock. Conveyancing is daunting 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Lacock
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If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
My step-father has suggested that I appoint his conveyancing solicitors in Lacock. Do I follow his guidance?
There are no two ways about it the best way to find a conveyancing lawyer is to have referrals from friends or relatives who have actually previously instructed the conveyancer that you are are thinking of instructing.
I've recently bought a leasehold house in Lacock. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. However, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Lacock Conveyancing for Leasehold Flats - A selection of Queries Prior to Purchasing
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It is important to be aware whether changing the roof or some other significant cost is due in the foreseeable future that will be shared by the leaseholders and will dramatically impact the level of the maintenance costs or result in a one time invoice. How much is the annual maintenance fee and ground rent?