I am selling my maisonette in North Baddesley and the estate agent has just text me to warn that the purchasers are swapping property lawyer. I am told that this is due to the fact that the bank will only engage with solicitors on their conveyancing panel. Why would a big named mortgage company only deal with certain solicitors rather the firm that they want to select for their conveyancing in North Baddesley ?
UK lenders have always had an approved set of law firms that can act for them, but in the past few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions point to the increase in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your buyers are unlikely to have any sway in the decision.
Is it correct that all North Baddesley CQS (Conveyancing Quality Scheme) solicitors are on the Santander conveyancing panel?
It is true that some banks and building societies now use CQS as the kick off point for Panel approval such as HSBC and Santander. The Law Society’s CQS membership however is no guarantee to lender panel acceptance. Nevertheless,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of conveyancing solicitors.
We previously selected conveyancing lawyers located in North Baddesley on the Nottingham solicitor panel. They have just invoiced me a further amount for dealing with the Nottingham mortgage. Is this an additional conveyancing fee set by Nottingham?
Provided it is contained in their Terms and Conditions or estimate then yes your property lawyer is entitled to charge a fee for this. The fee is not dictated by Nottingham but by your North Baddesley solicitor. Numerous firms on the Nottingham panel will quote ’dealing with mortgage’ fee but many practices incorporate it on their overall fee.
Can I be sure that the North Baddesley conveyancing solicitor on the Coventry BS panel is any good?
When it comes to conveyancing in North Baddesley getting recommendations is a good starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one which is cheap as chips. We would always suggest that you speak with the lawyer handling your conveyancing.
Will commercial conveyancing searches reveal planned roadworks that may affect a commercial land in North Baddesley?
Many commercial conveyancing solicitors in North Baddesley will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers expend in sourcing accurate data on highways that impact buildings and development assets in North Baddesley. The report sets out definitive data 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 North Baddesley.
For each commercial conveyancing transaction in North Baddesley it is critical to investigate the adoption status of roads surrounding a site. Failure to identify developments where adoption procedures have not been dealt with adequately could result in delays to North Baddesley commercial conveyancing transactions as well as present a risk to future intentions for the site. These searches are not conducted for residential conveyancing in North Baddesley.
I moved into my flat on 4 August and my personal details is not yet registered. Need I be worried? My conveyancing solicitor in North Baddesley said it should be dealt with in less than a month. Are transfers in North Baddesley uniquely lengthy to register?
As far as conveyancing in North Baddesley registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can differ subject to the party submitting the application, whether there are errors and whether the Land registry must send notices to any interested parties. As of today in the region of three quarters of such applications are fully addressed in less than three weeks but occasionally there can be longer hold-ups. Registration is effected once the new owner has moved in to the property thus 'speed' is not typically top priority yet where it is urgent that the the registration takes place urgently then you or your conveyancer must communicate with the Registry to express the reasoning for the application to be prioritised.
I am looking for a leasehold apartment up to £305k and found one close by in North Baddesley I like with amenity areas and railway links in the vicinity, however it's only got 51 years on the lease. I can't really find anything else in North Baddesley suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
If you need a mortgage the shortness of the lease will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the current proprietor has owned the premises for a minimum of twenty four months you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer about this.
Back In 2001, I bought a leasehold flat in North Baddesley. Conveyancing and Aldermore mortgage are in place. A letter has just been received from someone claiming to own the freehold. Attached was a ground rent demand for rent dating back to 1998. The conveyancing practitioner in North Baddesley who previously acted has long since retired. Any advice?
First contact the Land Registry to be sure that the individual claiming to own the freehold is in fact the registered owner of the freehold reversion. It is not necessary to incur the fees of a North Baddesley conveyancing solicitor to do this as you can do this on the Land Registry website for a few pound. Rest assured that in any event, even if this is the legitimate freeholder, under the Limitation Act 1980 the limitation period for recovery of ground rent is six years.
North Baddesley Conveyancing for Leasehold Flats - A selection of Questions you should ask Prior to Purchasing
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What restrictions are there in the North Baddesley Lease? Is the freehold owned collectively by the leaseholders?