I am selling my apartment in Lewes and the estate agent has just called to advise that the purchasers are swapping conveyancer. The reason given is that the mortgage company will only work with solicitors on their approved list. On what basis would a big named lender only engage with specific law firms rather the firm that they want to appoint for their conveyancing in Lewes ?
UK lenders have always had an approved set of law firms that can represent them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Lenders blame a rise in fraud as the reason for the pruning – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to disclose 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 do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are unlikely to have any impact on this.
Would the conveyancing lawyers listed on your site execute attended exchange conveyancing in Lewes?
There are a few conveyancing specialists carrying out one day exchanges. Do e-mail us to receive a fee calculation and details as to dates.
I used Action Conveyancing several years ago for my conveyancing in Lewes. Now, I need the documents but cannot find the solicitor. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to assist in tracking down your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Lewes of the conveyancing firm of solicitors you previously retained, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I am purchasing my first flat in Lewes with a loan from Nationwide Building Society. The builders would not reduce the price so I negotiated £7000 of extras instead. The sale representative told me not reveal to my conveyancer about this side-deal as it may adversely affect my mortgage with Nationwide Building Society. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I've recently found out that there is a flying freehold issue on a property I put an offer in last month in what was supposed to be a straight forward, chain free conveyancing. Lewes is where the house is located. Is there any advice you can give?
Flying freeholds in Lewes are not the norm but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Lewes you must be sure that your lawyer goes 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 Lewes may determine 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.
When it comes to leasehold conveyancing in Lewes what are the most frequent lease defects?
There is nothing unique about leasehold conveyancing in Lewes. Most leases are drafted differently and drafting errors can sometimes mean that certain provisions are not included. The following missing provisions could result in a defective lease:
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Clauses dealing with recovering service charges for expenditure on the building or common parts. Maintenance charge proportions which don’t add up to the correct percentage
You may have difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Santander, Chelsea Building Society, and TSB all have express requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is defective they may refuse to grant the mortgage, obliging the buyer to pull out.
Lewes Leasehold Conveyancing - Sample of Queries Prior to Purchasing
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It is important to be aware if fixing the lift or some other major work is anticipated that will be shared amongst the leaseholders and will dramatically increase the the maintenance fees or result in a one time invoice. What prohibitions are there in the Lewes Lease? Is the freehold owned jointly by the leaseholders?