I am nearing exchange of contracts for my home in Pewsey and the EA has just called to advise that the purchasers are changing their law firm. I am told that this is due to the fact that the lender will only deal with property lawyers on their conveyancing panel. On what basis would a big named lender only work with certain solicitors rather the firm that they want to choose to handle their conveyancing in Pewsey ?
Banks have always had an approved set of law firms that can represent them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 15 years.
Banks point to the increase in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to keep an eye on. 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 hearing daily from firms that have been removed from panels. Some 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 not going to have any impact on this.
Are the BSA intent on creating a online directory to list firms on the Norwich and Peterborough Building Society conveyancing panel for example in Pewsey?
We have not been informed any intention on the part of the BSA to develop such a tool.
My partner and I are close to exchanging contracts on the sale of our home in Pewsey and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers used a nationwide conveyancing practice as opposed to a conveyancing solicitor in Pewsey. We have lived in Pewsey for many years we know of no issue. Should we get in touch with our local Authority to seek clarification that the buyers are looking for.
It would appear that you have a conveyancing firm already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
I am buying my first flat in Pewsey with the aid of help to buy. The builders would not move on the price so I negotiated 6k of extras instead. The estate agent told me not reveal to my lawyer about this extras as it will put at risk my loan with the bank. Is this normal?.
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 thinking of appointing a conveyancing solicitor in Pewsey for my house move. Is it possible to check a solicitor's complaints history with the profession’s regulator?
Anyone may read presented Solicitor Regulator Association (SRA) determinations stemming from investigations from 2008 onwards. Go to Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, phone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For callers outside the UK, dial +44 (0)121 329 6800. The regulator may monitor call for training purposes.
Last April I purchased a leasehold property in Pewsey. Do I have any liability for service charges relating to a period prior to my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Pewsey Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
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You should want to discover as much as possible about the managing agents as they will affect your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters such as the cleanliness of the common parts. Ask other people whether they are happy with them. On a final note, find out the dates that the service charges are due to the relevant party and specifically what you get for your money. Plenty Pewsey leasehold apartments will have a service bill for maintenance of the building set by the management company. If you purchase the flat you will have to pay this liability, usually in instalments throughout the year. This can vary from two or three hundred pounds to thousands of pounds for buildings with lifts and large communal areas. In all likelihood there will be a ground rent for you to pay yearly, this is usually not a large sum, say around £25-£75 but you should to enquire as occasionally it can be surprisingly expensive. Make sure you enquire if the the lease contains any onerous restrictions in the lease. By way of example some leases prohibit pets being allowed in in a block in Pewsey. If you like the flatin Pewsey yet your dog is not allowed to move with you then you have a very hard determination.