Is the fact that my conveyancer in Lincolnshire is not on my lender's conveyancing panel that there is a problem with the quality of the firm’s conveyancing?
That would more than likely be a wrong assumption to make. There are all sorts of perfectly plausible explanations. A recent report by the solicitors regulator indicated 76% of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume 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 Lincolnshire conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
The sellers of the house we are purchasing have appointed a conveyancing solicitor in Lincolnshire who has insisted on a exclusivity agreement with a payment 10k. Are such contracts recommended for Lincolnshire conveyancing transactions?
There are two primary concerns with entering into any lock out agreement (occasionally referred to as an exclusivity agreement) is that it diverts attention away from making progress with the conveyancing work, so in the absence of it needing limited or no negotiation then it could turn out to be a hindrance. It is not promoted amongst Lincolnshire conveyancing practitioners for this reason. A supplemental issue is the extent of the remedies available - an aggrieved buyer should not expect to secure an injunctive ruling by a court to prevent the vendor completing the sale to a third party, so the only remedy available under the agreement will be the recovery of abortive costs and, in rare situations, the extra payment of damages.
I am purchasing a flat and require a conveyancing solicitor in Lincolnshire who is on the Platform Home Loans Ltd approved. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Platform Home Loans Ltd in certain locations such as Lincolnshire. We dont recommend any particular firm.
It has been 4 months following my purchase conveyancing in Lincolnshire completed. I have checked the Land Registry site which shows that I paid £175,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the property from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
Just had an offer accepted on a new build apartment in Lincolnshire. 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 legal work.
Set out below are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Lincolnshire
-
Please supply a car parking plan. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore.
I am looking for a flat up to £195,000 and identified one round the corner in Lincolnshire I like with amenity areas and station nearby, however it only has 51 remaining years left on the lease. There is not much else in Lincolnshire suitable, so just wondered if I would be making a mistake acquiring a lease with such few years left?
Should you require a mortgage the shortness of the lease may be problematic. Discount the offer by the expected lease extension will cost if not already taken into account. If the current owner has owned the property for a minimum of twenty four months you could ask them to commence the lease extension formalities and pass it to you. An additional ninety years can be extended on to the current lease term and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this matter.