Is the fact that my solicitor in Polesworth is not identified on my bank's solicitor panel that there is a problem with the quality of her conveyancing?
That would most likely be a wrong assumption to make. There are plenty of plausible explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The most common reasons for removal are: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Polesworth conveyancing practice and enquire why they are no longer on the approved list for your bank.
How does conveyancing in Polesworth differ for new build properties?
Most buyers of new build property in Polesworth come to us having been asked by the seller to exchange contracts and commit to the purchase even before the premises is ready to move into. This is because developers in Polesworth tend to purchase the land, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Polesworth or who has acted in the same development.
I am looking for a flat up to £305k and found one round the corner in Polesworth I like with open areas and railway links nearby, however it only has 61 years on the lease. I can't really find anything else in Polesworth for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you require a mortgage that many years may be problematic. Reduce the offer by the anticipated lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for a minimum of 2 years you can request that they commence the lease extension formalities and then assign it to you. You can add 90 years to the existing lease with a zero ground rent applied. You should consult your conveyancing lawyer concerning this.
I need to instruct a conveyancing lawyer in Polesworth for my house move. Can I check a firm’s record with the legal regulator?
You can find published Solicitor Regulator Association (SRA) decisions resulting from investigations started on or after 1 January 2008. Visit Check a solicitor's record. For details about the period before 1 January 2008, or to check a solicitors record, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. International callers, use +44 (0)121 329 6800. The SRA sometimes recorded telephone calls for training requirements.
I've found a house that appears to meet my requirements, at a great figure which is making it more attractive. I have subsequently been informed that the title is leasehold rather than freehold. I am assuming that there are issues purchasing a leasehold house in Polesworth. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Polesworth ?
Most houses in Polesworth are freehold rather than leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can assist with the conveyancing process. It is clear that you are buying in Polesworth so you should seriously consider looking for a Polesworth conveyancing practitioner and check that they are used to transacting on leasehold houses. As a matter of priority you will need to check the number of years remaining. As a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a maintenance charge towards the maintenance of the estate where the property is part of an estate. Your solicitor should appraise you on the various issues.
Polesworth Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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Is anyone aware of any major works in the near future that will likely increase the maintenance costs? It is important to be aware if a new roof is being put on or some other major work is pending that will be shared by the leasehold owners and will dramatically impact the level of the maintenance costs or require a one time invoice. Does the lease include onerous restrictions?
Builders have suggested I use a conveyancer and I've received an estimate from them. They are almost £250 less expensive than my local Polesworth solicitor. What's the catch?
Developers normally have lists of solicitors who are quick and who know the seller’s contract and property lawyer. As many developers offer an inducement to select their approved conveyancer for this reason, any increased fees can be avoided and a developer will not suggest a conveyancing warehouse and run the risk of having the conveyancing delayed when they want exchange in 28 days. The argument for not opting for the suggested conveyancer is that they may prove unwilling to fight for your interests for fear of alienating the developer. Where you have concerns that this may be the situation you should stick with your high street Polesworth lawyer.