We wish to acquire a purpose built apartment in New Invention with a mortgage from Skipton Building Society.We would like to retain our New Invention conveyancing practitioner but Skipton Building Society advised that she’s not listed on their "panel". We have to appoint a Skipton Building Society panel lawyer or retain our high street solicitor and pay for a Skipton Building Society panel lawyer to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The loan issued to you is subject to its terms and conditions, one of which will be that conveyancers needs to be on the Skipton Building Society approved list. Until recently, most mortgage companies had large numbers of solicitors on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Skipton Building Society
What is your number one tip for choosing a conveyancing solicitor in New Invention
We would encourage you not to go for the lowest New Invention conveyancing costs illustration. You really do get what you’re paying for when it comes to property lawyers. A cheap quote may mean that the conveyancing solicitor is handling a lot of jobs at one time and you won’t get the quality of service and the attention that you need. It is, however, wise to use a conveyancer who has a fixed fee on a no sale, no fee basis. This way, you know exactly what you’ll have to pay in advance.
I am assisting my mother sell her property in New Invention. Will the conveyancing solicitor arrange the energy performance certificate or it is for the owner to coordinate?
Following the abolition of Home Packs, energy performance certificates was retained a mandatory component of moving house. An EPC must be to hand before the property is placed on the market. This is not a task that solicitors ordinarily arrange. Where you are instructing a New Invention conveyancing practitioner they may be able to arrange energy performance certificates given their relationships with reputable New Invention providers
I can not fathom if my lender obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called my New Invention bank branch on a couple of occasions and was reassured it wasn't an issue and they would lend. My New Invention conveyancing solicitor - who is on the bank conveyancing panel- called to say that they refuse to lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Provided that the conveyancer is on the lender panel, they must adhere to the Council of Mortgage Lenders’ Handbook requirements for the lender. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years remaining.
Various web forums that I have visited warn that are the primary cause of stalling in New Invention house deals. Is this right?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not feature within the top 10 causes of hindrances in the conveyancing process. Local searches are unlikely to feature in any delay in conveyancing in New Invention.
Are there restrictive covenants that are commonly picked up as part of conveyancing in New Invention?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in New Invention. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
The estate agent has sent us the confirmation of our purchase of a new build apartment in New Invention. 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 conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in New Invention
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Please confirm the Lease plans are architect prepared. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
Am in the process of buying my 1st home in New Invention. Conveyancing practitioner has been chosen. The mortgage adviser advised that a survey is not needed as the house is only 17 years old.
At the very least you should have a Home Buyer's Report. As the premises was built more than a decade ago the property will not come with a warranty, so you would be well advised not to take a risk. Where a property of this age shows no signs of problems a Home Buyer's report may suffice. The report should highlight any apparent issues and recommend additional investigation if appropriate. If there are any signs of material issues obtain a full Building Survey from the beginning.