Is the fact that my solicitor in Maltby is not identified on my lender's solicitor panel that there is a problem with the standard of his work?
It would not be wise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed 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 lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. If you are concerned you should simply call the Maltby conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
My solicitor has discovered a a problem with the lease for the apartment we are buying in Maltby. The seller’s lawyers have suggested title insurance as a workaround. We are happy with insurance and will cover the costs. Our conveyancer has advised that he must be satisfied that the bank is happy with this solution. Who is the client here, us or the lender?
Even though you have a mortgage offer from the bank does not mean to say that the property will meet their provisions for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the mortgage company are the client. The appropriate lender specifications have to be complied with.
What does my ID and proof of funds have anything to do with my conveyancing in Maltby? Why is this being asked of me?
Anti-terror and anti-money-laundering rules require solicitors and licensed conveyancers to check the ID of the potential client they are dealing with before they can accept their conveyancing retainer. The Terms of Engagement that you are required to sign will no doubt confirm this. Your lender will also require certain documents to be viewed. Where you refuse to provide identification documents, your solicitor will not be able to take you on as a client.
Are all Maltby Conveyancing Quality Solicitors on the Bank of Ireland conveyancing panel?
A selection of lenders now use CQS as the kick off point for Panel membership such as HSBC and Santander. The Law Society’s CQS membership however gives no guarantee to lender panel acceptance. That being said,the Council of Mortgage Lenders have indicated that it is likely to become a pre-requisite for solicitors wishing to remain on their approved list of firms.
Intending to buy a maisonette in Maltby. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the UBS 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 Maltby property lawyer is on the UBS conveyancing panel.
I was told three weeks ago that my mortgage has been agreed to by Barclays. Is it usual for Barclays to only issue the offer once my solicitor in Maltby is approved on their conveyancing panel? Barclays have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for Barclays to deal with your lawyer's application to be on the Barclays conveyancing panel. There's no guarantee that your solicitor will be accepted.
Yesterday I discovered that there is a flying freehold issue on a property I have offered on last month in what was supposed to be a quick, no chain conveyancing. Maltby is the location of the property. Can you shed any light on this issue?
Flying freeholds in Maltby 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 Maltby you would need to get your solicitor to go through the deeds thoroughly. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Maltby may decide 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.
If all goes to plan we aim to complete the sale of our £275,000 flat in Maltby in just under a week. The managing agents has quoted £300 for Landlord’s certificate, insurance certificate and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Maltby?
Maltby conveyancing on leasehold flats usually involves the purchaser’s solicitor sending questions for the landlord to answer. Although the landlord is under no legal obligation to address these enquiries most will be willing to do so. They are at liberty to invoice a reasonable charge for responding to questions or supplying documentation. There is no upper cap for such fees. The average fee for the paperwork that you are referring to is over three hundred pounds, in some situations it exceeds £800. The management information fee required by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, without which the charge is not strictly payable. Reality however dictates that one has little choice but to pay whatever is requested of you if you want to exchange contracts with the buyer.
Maltby Conveyancing for Leasehold Flats - A selection of Queries before buying
-
Best to be warned if fixing the lift or some other major work is due shortly that will be shared between the leasehold owners and will dramatically impact the level of the service costs or result in a specific invoice. Its a good idea to discover as much as you can regarding the managing agents as they can either make your living at the property much simpler or problematic. Being a leasehold owner you will be at the mercy of the managing agents from a financial perspective and when it comes to day to day issues such as the tidiness of the communal areas. Ask other people whether they are happy with them. Finally, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money. How many of the leaseholders are in arrears for their service charge payments?