My partner and I are planning to buy a home in Ravenshead and are in fact using a Ravenshead conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report with a view to exchanging next week. TSB have this evening contacted us to inform me that there is now an issue as our Ravenshead conveyancer is not on their conveyancing panel. Please explain?
If you are buying a property with the assistance of a mortgage it is conventional for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your property lawyer should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Ravenshead solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
This question may be naive but I am unexperienced as a 1st time buyer of a two bedroom flat in Ravenshead. Do I receive the keys to the house on completion from my solicitor? If this is the case, I will use a local conveyancing solicitor in Ravenshead?
On the day of completion you will not be required to attend the conveyancers office in Ravenshead. Your solicitors will transfer the purchase money to the owner’s solicitors, and shortly after the monies have arrived, you should be able to pick up the keys from the selling Agents and move into your new home. This tends to happen early afternoon.
I'm in the process of looking at houses in Ravenshead and I am about to put in an offer. Is it premature to have a solicitor in place? I intend to finance via a mortgage with RBS.
You should start requesting conveyancing estimates from solicitors ASAP. After you have chosen your lawyer and once your offer is accepted you can instruct them to work for you and pass their details on to the EA. Given that you are obtaining a mortgage with RBS, ask your prospective lawyers if they are on the RBS conveyancing panel otherwise they can't do the mortgage legal work.
It is unclear whether my mortgage offer requires a lease extension. I have called into my local Ravenshead bank branch on a couple of occasions and was told they are content with the situation and they would lend. My Ravenshead conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend based on their UK Finance Lenders’ Handbook minimum lease term requirements. Who do I believe?
Provided that the conveyancing practitioner is on the lender approved list, they must follow the CML Handbook conditions for the lender. Unless your lawyer obtains specific confirmation in writing that the bank will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
I have todaybeen informed that Action Conveyancing have closed. They carried out my conveyancing in Ravenshead for a purchase of a leasehold flat 10 months ago. How can I check that the property is registered correctly in the name of the previous owner?
The quickest method to check if the premises is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Ravenshead conveyancing specialists.
The estate agent has sent us the confirmation of our purchase of a new build flat in Ravenshead. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Ravenshead
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Forfeiture - bankruptcy or liquidation must not apply under this provision.
I need to instruct a conveyancing solicitor for leasehold conveyancing in Ravenshead. I have stumble across a site which seems to have the ideal solution If there is a chance to get all this stuff completed via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Can you offer any advice when it comes to finding a Ravenshead conveyancing firm to deal with our lease extension?
If you are instructing a solicitor for lease extension works (regardless if they are a Ravenshead conveyancing firm) it is essential that he or she should be familiar with the legislation and specialises in this area of conveyancing. We advise that you speak with two or three firms including non Ravenshead conveyancing practices prior to instructing a firm. Where the conveyancing practice is ALEP accredited then so much the better. The following questions could be helpful:
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If they are not ALEP accredited then what is the reason?
Ravenshead Conveyancing for Leasehold Flats - A selection of Questions you should consider Prior to Purchasing
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On the whole the outlay for major works tend not to be wrapped into the service charges, although a few managing agents in Ravenshead require leasehold owners to pay into a reserve fund and this is used to offset against major works. It is important to be aware if changing the roof or some other major work is pending that will be shared by the leaseholders and will dramatically impact the level of the service fees or require a one time invoice. You should want to discover as much as possible concerning the company managing the block as they can either make your living at the property much easier or uncomfortable. As the proprietor of a leasehold property you will be in the clutches of the managing agents both financially and when it comes to practical issues such as the cleanliness of the communal areas. Ask prospective neighbours what they think of their management. In conclusion, find out the dates that you are obliged pay the service charge to the relevant party and specifically what it includes.