I had intended to instruct a conveyancing solicitor in Loxford for our house purchase. Our financial adviser has since notified us that our bank Bank of Ireland won't deal with them. Surely this is unfair competition?
Pre- 2008 most banks had an appetite for risk which was higher than today. Almost all Loxford conveyancing firms would have been on most lender panels. The financial services regulator in 2010 conducted a thematic review into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, lenders are increasingly seeing more information from law firms relating to their operations and the individuals who work for them as well as set certain criteria such a completing on a minimum number of transactions. Many Loxford conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Loxford is amongst the thousands of areas where the solicitors we list are are authorised to act for Bank of Ireland.
I'm the only recipient of my late grandmother’s estate and I have everything in my name alone, including the house in Loxford. Conveyancing formalities meant that the Land Registry date was in September. I now wish to sell up. I do know about the CML 6 month 'rule', meaning my proprietorship could be regarded the same way as though I had purchased the property in September. Will no one buy the property for half a year?
The Council of Mortgage Lenders’ handbook instructs conveyancers to: "report to us immediately if the owner or registered proprietor has been registered for less than six months." By the strict wording you might be caught by that. Most mortgage companies would take a pragmatic view as this clause chiefly exists to identify subsales or the wholesaling and assigning of properties.
Intending to buy a flat in Loxford. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Lender if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Yorkshire BS conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Loxford conveyancing practitioner is on the Yorkshire BS conveyancing panel.
Our offer on a detached house in Loxford has been agreed to, but there is a chain. The owners have put an offer on a property, however it’s not yet tied up, and are looking at other apartments booked. I have chosen a local conveyancing solicitor in Loxford. What should be my next step? At what stage should I apply for the mortgage with Kent Reliance?
It is usual to have anxieties where there is a chain as you are unlikely to want to be too out of pocket prematurely (home loan application is in the region of £1k, then survey, Loxford conveyancing search charges, etc). First, you should ensure that your conveyancing practitioner is on the Kent Reliance approved list. As to the next stages this very much depends on the specifics of your case, attraction to this property and on the state of the market. In a buoyant market the majority of buyers will apply for the mortgage with Kent Reliance and arrange for the valuation and only if it comes back ok would they ask their lawyer to move forward with searches.
I have a 4 bedroom Georgian house in Loxford. Conveyancing solicitor represented me and Norwich and Peterborough Building Society. I happened to do a free search for it on the Land Registry database and I saw a couple of entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You should review the Freehold register you have again and check the Charges Register as there may be mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Loxford and other locations in the country and poses no real issues for owners other than when they remortgage they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the situation with the conveyancing solicitor who carried out the work.
About to purchase a new build flat in Loxford. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Set out below is a sample of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Loxford
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Forfeiture - bankruptcy or liquidation must not apply under this provision. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
Due to the input of my in-laws I had a survey completed on a property in Loxford in advance of instructing solicitors. I have been informed that there is a flying freehold element to the house. Our surveyor has said that some banks may refuse to issue a loan on this type of premises.
It varies from the lender to lender. HSBC has different instructions from Halifax. Should you wish to telephone us we can look into this further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Loxford. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Loxford to see if the conveyancing will be more expensive.
How can the Landlord & Tenant Act 1954 impact my business premises in Loxford and how can your lawyers assist?
The 1954 Act provides security of tenure to commercial lessees, giving them the a statutory right to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act for protection and help with commercial conveyancing in Loxford