My wife and I are planning to purchase a property in Marlow and have instructed a Marlow conveyancing firm. Within the last couple of days our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Bank of Scotland have this morning contacted us to advise us that they have now hit a problem as our Marlow lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' solicitors to also act for the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Marlow solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
We are about to complete buying a property in Marlow but as a consequence of damage from the recent storms I have managed to agree compensation from the current proprietors of £2k in the form of a adjustment in the price. This was going to be addressed as part of amending the contract but HSBC will not permit this. Why were they approached?
Your conveyancing practitioner being on the HSBC approved list is duty bound to inform HSBC of any amendments to the sale price. If you prohibit your lawyer to disclose the price change to HSBC then they would have to discontinue acting for you. In addition, HSBC and you would have to appoint a new conveyancing practitioner for your conveyancing in Marlow.
Will commercial conveyancing searches disclose proposed roadworks that could impact a commercial land in Marlow?
Many commercial conveyancing solicitors in Marlow will order a SiteSolutions Highways report as it reduces the time that conveyancers invest in looking into accurate data on highways that impact buildings and development assets in Marlow. The report sets out definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Marlow.
For each commercial conveyancing transaction in Marlow it is crucial to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been addressed adequately may result in delays to Marlow commercial conveyancing transactions as well as present a risk to future plans for the site. These searches are not ordered for residential conveyancing in Marlow.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Marlow I like with a park and railway links in the vicinity, the downside is that it's only got 51 years on the lease. I can't really find anything else in Marlow for this price, so just wondered if I would be making a mistake purchasing a short lease?
If you need a home loan the remaining unexpired lease term will likely be a potential deal breaker. Reduce the price by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the property for at least twenty four months you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should consult your conveyancing lawyer concerning this matter.
In what way does the Landlord & Tenant Act 1954 impact my commercial property in Marlow and how can your lawyers assist?
The 1954 Act provides a safeguard to business tenants, giving them the legal entitlement to make a request to court for a continuation of occupancy when the lease comes to an end. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. Fees are different for commercial conveyancing. Marlow is one of our hundreds of areas of the UK in which the firms we work with are based
I am using a search engine for the term conveyancing in Marlow it brings up numerous conveyancersin the vicinity. With so much choice what is the best way to find the right property lawyer for me?
The best method of seeking the right conveyancer is via trusted referral, so ask friends and those you trust who have purchased a property in Marlow or a respected estate agent or financial adviser. Costs for conveyancing in Marlow vary, so it's a good idea to obtain a minimum of three fee estimates from varying types of companies. Dont forget to clarify that the fees are fixed.