My husband and I are looking to buy a house in Rogiet and are in fact using a Rogiet conveyancing firm. Within the past 48 hours our solicitor has sent a preliminary report and documents to look through with a view to exchanging next week. Bank of Ireland have this evening contacted us to inform me that they have now hit a problem as our Rogiet lawyer is not on their conveyancing panel. What do we do from here?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also act for the purchaser's lender. 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 lender 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 Rogiet solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I am considering remortgaging my apartment in Rogiet, does my lawyer need to be on the Yorkshire BS Conveyancing panel?
There is nothing to stop you using your solicitor, but Yorkshire BS will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
How does conveyancing in Rogiet differ for newly converted properties?
Most buyers of new build property in Rogiet approach us having been asked by the developer to sign contracts and commit to the purchase even before the property is completed. This is because developers in Rogiet tend to acquire 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 Rogiet or who has acted in the same development.
I decided to have a survey carried out on a property in Rogiet ahead of appointing lawyers. I have been informed that there is a flying freehold aspect to the house. My surveyor advised that some banks tend refuse to issue a mortgage on this type of property.
It varies from the lender to lender. Lloyds has different instructions for example to Nationwide. If you call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Rogiet. Conveyancing may be slightly more expensive based on your lender's requirements.
I am in need of some leasehold conveyancing in Rogiet. Before diving in I require certainty as to the unexpired term of the lease.
Assuming the lease is recorded at the land registry - and most are in Rogiet - then the leasehold title will always include the basic details of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Rogiet Leasehold Conveyancing - Sample of Questions you should consider Prior to Purchasing
-
It is important to be aware if fixing the lift or some other major work is coming up that will be shared amongst the leasehold owners and could well dramatically increase the the service charges or necessitate a specific payment. What is the name of the managing agents? It would be wise to discover if there are any onerous restrictions in the lease. For example it is fairly common in Rogiet leases that pets are not permitted in in a block in Rogiet. If you love the propertyin Rogiet yet your cat is not allowed to make the move with you then you will be faced hard decision.
How up-to-date is your database of lawyers on the bank conveyancing panel in Rogiet? Do the mortgage companies send you an updated list?
Rogiet firms and firms conducting conveyancing in Rogiet themselves provide us confirmation that they are on the bank conveyancing panel as opposed to being supplied with a list from the lender directly.