I am nearing exchange of contracts for my ground floor flat in Romiley and the estate agent has just telephoned to warn that the buyers are swapping law firm. The excuse is that the mortgage company will only work with solicitors on their conveyancing panel. Why would a major mortgage company only deal with specific lawyers rather the firm that they want to choose for their conveyancing in Romiley ?
Banks have always had panels of law firms that can act for them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions point to the increase in fraud by way of justification for the reduction – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
I require conveyancing for a flat in a fairly new development (five years built) in Romiley. Almost all the properties are already sold. Do I need carry out the conveyancing searches as part of conveyancing in Romiley?
You would be putting yourself at risk in not carrying out Romiley conveyancing searches. Without searches you have no clarity over flooding, environmental etc which may mean you walk away due to potential problems down the line. If you are buying mortgage free there is no legal necessity to have them, but we would absolutely advise in the strongest possible terms that you have them. Where accelerating the process and price are primary concerns you should discuss with your solicitor about the viability of search insurance
My colleague advised me that where I am purchasing in Romiley I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is sometimes included in the estimate for your Romiley conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Romiley around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with plans and statistics, Local Amenities and other useful information concerning Romiley.
I am buying a new build apartment in Romiley. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build legal work.
Here are examples of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Romiley
-
Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? 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. 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. There must be mutual enforceability of lessee’s covenants.
Yesterday I discovered that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Romiley is the location of the property. Can you offer any advice?
Flying freeholds in Romiley are not the norm but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Romiley you would need to get your solicitor to go through the deeds diligently. Your mortgage company may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Romiley may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
My father-in-law has suggested that I use his conveyancing solicitors in Romiley. Do I follow his advice?
No doubt it’s preferable to find a conveyancing solicitor is to have guidance from friends or relatives who have experience in using the firm that you are are thinking of instructing.