Am I correct in assuming that the fact that my conveyancer in Northamptonshire is not on my mortgage company's solicitor panel that there is a problem with the quality of her work?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor 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 Northamptonshire conveyancing firm and ask them why they are no longer on the approved list for your lender.
When will exchange of contracts take place for residential conveyancing in Northamptonshire and am I required to be at the lawyers office?
Where you are round the corner to one of the conveyancing solicitors in Northamptonshire you are welcome to attend to sign the paperwork. However, the lender approved solicitors we recommend provide a countrywide conveyancing service and give just as detailed and professional a job for you when communicating with you by post or email. The signing of the sale agreement is not the point of no return. Signing on the dotted line simply enables the solicitor to exchange contracts when the time is right, which is ordinarily shortly after signing. The procedure is nowadays normally dealt with by telephone and can be very rapid, although where a long "chain" is in the mix, since the process requires the relevant party's solicitor (not necessarily a conveyancing solicitor in Northamptonshire)to be in the office at the appropriate time.
I have a decision in principle. The bank mentioned the loan came with free conveyancing. Is the implication that I have to use their panel solicitor as I would prefer to use a local conveyancing solicitor in Northamptonshire?
You should check but the the likelihood is that give you one of their panel conveyancers if you want the "fee-free" incentive. Contact the bank and determine if they make available a cash alternative. It is not unheard for a lender to give a £250 cashback as a further option in which case that money can go towards your preferred conveyancing solicitor in Northamptonshire.
I am purchasing a new build house in Northamptonshire benefiting from help to buy. The developers refused to budge the price so I negotiated £7000 of extras instead. The house builders rep advised me not inform my lawyer about the extras as it will jeopardize my loan with the lender. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I am looking for a conveyancing practitioner in Northamptonshire for my sale. Can I review a firm’s complaints history with the profession’s regulator?
Members of the public may find published Solicitor Regulator Association (SRA) decisions stemming from investigations started on or after Jan 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors history, call 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, use +44 (0)121 329 6800. The SRA may monitor call for training requirements.
Do you have any top tips for leasehold conveyancing in Northamptonshire from the perspective of speeding up the sale process?
- Much of the delay in leasehold conveyancing in Northamptonshire can be bypassed where you instruct lawyers as soon as you market your property and ask them to collate the leasehold documentation needed by the purchasers’ conveyancers. If you have carried out any alterations to the premises would they have required Landlord’s consent? In particular have you laid down wooden flooring? Northamptonshire leases often stipulate that internal structural changes or laying down wooden flooring calls for a licence issued by the Landlord consenting to such alterations. Where you dont have the approvals to hand you should not contact the landlord without checking with your conveyancer first. A minority of Northamptonshire leases require Landlord’s consent to the sale and approval of the buyers. If this applies to your lease, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. Many freeholders or Management Companies in Northamptonshire levy fees for providing management packs for a leasehold premises. You or your lawyers should enquire as to the fee that they propose to charge. The management information sought on or before finding a buyer, thus reducing delays. The typical amount of time it takes to receive management information is three weeks. It is the most usual reason for frustration in leasehold conveyancing in Northamptonshire. If you have the benefit of shareholding in the freehold, you should ensure that you are holding the original share document. Arranging a replacement share certificate can be a lengthy process and frustrates many a Northamptonshire home move. Where a reissued share is necessary, you should approach the company officers or managing agents (if applicable) for this at the earliest opportunity.
Leasehold Conveyancing in Northamptonshire - Examples of Questions you should consider Prior to buying
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Many Northamptonshire leasehold flats will have a service charge for maintenance of the block invoiced on behalf of the management company. If you purchase the apartment you will have to pay this amount, usually in instalments during the year. This can differ from a few hundred pounds to thousands of pounds for blocks with lifts and large common grounds. There will also be a ground rent to be met yearly, ordinarily this is not a significant sum, say around £50-£100 but you should to check as on occasion it could be surprisingly expensive. Does the lease contain onerous restrictions? How much is the service charge and ground rent on the property?