I am progressing with the sale of my apartment in Petworth and the EA has just called to warn that the purchasers are switching law firm. The reason given is that the mortgage company will only work with property lawyers on their approved list. Why would a big named mortgage company only work with certain law firms rather the firm that they want to appoint for their conveyancing in Petworth ?
Banks have always had panels of law firms they are willing to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for decades.
Lenders attribute this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that 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. The purchasers are unlikely to have any sway in the decision.
Is there a list of Co-operative panel conveyancers in Petworth on the UK Finance Lenders’ Handbook Website?
Unfortunately not yet. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. Very few mortgage companies make their panel listings viewable on the web. Where you are looking for a Petworth conveyancer on the Co-operative please make the most of our tool.
I am currently in the process of buying my council flat in Petworth. I have a mortgage offer with Bank of Ireland. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Bank of Ireland, you will need to appoint a solicitor on the Bank of Ireland conveyancing panel.
Kent Reliance have agreed my mortgage in principle, my bid on a apartment in Petworth has been accepted, now what?
Your estate agent will need to know who your solicitors are (be sure the conveyancing practitioners are on the lender’s panel). Contact Kent Reliance or your broker and finish off any relevant paperwork. Kent Reliance will instruct a valuer who will get in contact with the estate agent or owners to schedule an appointment. Once conducted (assuming no problems) it takes on average a fortnight for the mortgage offer to be issued. Kent Reliance will issue the offer to you and your solicitors. The transaction will then take it’s course according the nature and complexity of the conveyancing in Petworth.
Should our solicitor be making enquiries regarding flooding during the conveyancing in Petworth.
The risk of flooding is if increasing concern for lawyers dealing with homes in Petworth. There are those who purchase a property in Petworth, completely expectant that at some time, it may suffer from flooding. However, leaving to one side the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, satisfactory building insurance, or dispose of the property. There are steps that can be taken as part of the conveyancing process to forewarn the purchaser.
Solicitors are not best placed to give advice on flood risk, however there are a various checks that may be initiated by the purchaser or by their conveyancers which should give them a better appreciation of the risks in Petworth. The standard property information forms sent to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the vendor to discover if the premises has suffered from flooding. If the property has been flooded in past which is not disclosed by the seller, then a buyer could commence a compensation claim stemming from an incorrect reply. The purchaser’s lawyers may also commission an enviro search. This will disclose if there is a recorded flood risk. If so, additional investigations will need to be initiated.
What makes your site different to alternative web based conveyancing solicitors for conveyancing in Petworth?
At this site obtain an accurate quote via a Solicitor or Licensed Conveyancer that understands the nuances of your conveyancing in Petworth. Unlike many estate agents and many comparison sites we are not in the business of charging firms a commission if you choose them for your home move in Petworth
Should I instruct a Petworth conveyancing solicitor based in the location that I am buying? We have a good friend who can perform the conveyancing but her office is 300kilometers away.
The primary upside of using a high street Petworth conveyancing firm is that you can visit the firm to execute documents, hand in your ID and pester them where appropriate. They will also have local knowledge which is a plus. However it's more important to get someone that will do a good and efficient job. If other friends have used your friend and in the main were content that must trump using an unfamiliar Petworth conveyancing solicitor just because they are based in the area.
There are only Fifty years unexpired on my flat in Petworth. I am keen to get lease extension but my landlord is can not be found. What should I do?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for for permission to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to demonstrate that you or your lawyers have done all that could be expected to locate the freeholder. In some cases an enquiry agent would be useful to carry out a search and to produce an expert document which can be accepted by the court as evidence that the landlord is indeed missing. It is wise to seek advice from a solicitor in relation to proving the landlord’s disappearance and the vesting order request to the County Court overseeing Petworth.
Petworth Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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Is the freehold owned collectively by the tenants? What is the length of the lease? It is important to be aware whether fixing the lift or some other major work is due in the foreseeable future that will be shared amongst the leaseholders and will materially impact the level of the maintenance charges or require a specific payment.