We are purchasing a 3 bedroom apartment in Sale with a mortgage. We have a Sale conveyancer, but the lender advise he's not on their "panel". We have to appoint one of the bank panel conveyancing practices or retain our Sale property lawyer as well as pay for one of their panel lawyers to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your Sale conveyancing solicitor to apply to be on the conveyancing panel.
Despite weeks of looking the Title Certificate and documents to our house are lost. The conveyancers who dealt with the conveyancing in Sale 4 years ago have long since closed. Will I be able to sell the house?
In today’s world there are copies made of almost everything, and your lawyer should be aware exactly where to locate all the relevant documentation so you may purchase or sell your property without a hitch. Where duplicates are not available, your solicitor may be able to put in place insurance or indemnities against future claims on the premises.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Sale. Conveyancing is necessary evil 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.
Set out below is a sample of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Sale
-
Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. 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. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided.
Should I be suspicious that estate agents that I am dealing with are recommending an online conveyancing firm rather than a High Street Sale conveyancing company?
As is the case with lots of service providers, often input from family and friends can be extremely useful or valuable. Nevertheless there are many players in a conveyancing matter; estate agents, mortgage brokers and mortgage companies may recommend conveyancers to appoint. On occasion these solicitors might be known to one of the organisations as being good in their field, but sometimes there behind the scenes commercial relationship behind the recommendation. You are free to appoint your preferred lawyer. You need to be aware that some lenders specify a panel list of solicitors you have to use for the lender aspect of your home move.
Last April I purchased a leasehold house in Sale. Am I liable to pay 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. However, your landlord may still be able to take action to forfeit the lease. A critical element of leasehold conveyancing for your conveyancer to be sure 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).
I am the registered owner of a leasehold flat in Sale, conveyancing formalities finalised December 2012. How much will my lease extension cost? Similar properties in Sale with over 90 years remaining are worth £185,000. The ground rent is £65 yearly. The lease expires on 21st October 2086
With just 60 years left to run the likely cost is going to span between £20,000 and £23,000 plus legals.
The figure that we have given is a general guide to costs for extending a lease, but we are not able to provide a more accurate figure without more detailed investigations. Do not use the figures in a Notice of Claim or as an informal offer. There are no doubt additional issues that need to be considered and you obviously want to be as accurate as possible in your negotiations. Please do not move forward based on this information without first getting professional advice.
I note that you have a post code search directory listing firms on the bank conveyancing panel. Do Sale conveyancing companies pay you a commission if I instruct them for my house purchase?
We are a listing service only for law firms wishing to communicate if they are on the lender conveyancing panel or other lender panels. We do not charge referral fees to the any conveyancer that you subsequently appoint for your conveyancing in Sale.