I can't travel far from Seaham. Can you please spell out why all Seaham solicitors aren't automatically on all bank panels?
Pre- 2008 most lenders had an attitude to risk which differs from the current day. The financial regulator in 2010 instigated a thematic review into fraud which in summary warned lenders: know the property lawyers on your panel. Consequently, lenders have subsequently looked to extract more information from law firms about their operations and the individuals employed by them and set certain criteria such as completing a minimum number of transactions. Thousands of firms have been excluded from lender panels even though they had an exemplary track record, no complaints and zero claims and didn't just 'dabble' in conveyancing. Many firms were never going to satisfy the criteria of amount of transactions the mortgage companies set.
I am buying a property in Seaham. One unusual aspect is that the roof has a solar panel. Principality have issued a mortgage offer so presumably this is not a concern to them. Why is my solicitor raising questions about the panel?
As you are obtaining a mortgage with Principality your lawyer must check the formal requirements set out in Part two of UK Finance Lenders’ Handbook for Principality. The CML Handbook sets out minimum requirements for solar panel roof-space leases, and conveyancers are required to report to Principality where a lease does not comply with these conditions. The conditions relate to the installation of panels on properties nationwide and is not isolated to Seaham.
Completion of my remortgage has taken place for my property in Seaham. Conveyancing was a necessary evil but I feel I should register my dissatisfaction about the lender. How do I make a complaint?
All lenders have complaints procedures. Your first point of contact should be one of the lender’s branches or the Customer Care Team at head office. Ordinarily complaints to a lender are resolved very quickly. However if you are not satisfied that the matter is not resolved you can write to Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR with full details of your complaint.
I was told two weeks ago that my mortgage has been agreed to by Co-operative. Is it usual for Co-operative to only issue the offer once my solicitor in Seaham is approved on their conveyancing panel? Co-operative have asked my solicitor to see a copy of their Professional Indemnity Insurance Schedule.
A lender would not issue a mortgage until they have details of a lawyer on their panel. It can take a few weeks for Co-operative to deal with your lawyer's application to be on the Co-operative conveyancing panel. There's no guarantee that your solicitor will be accepted.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Seaham. 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 conveyancing.
Here is a sample of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Seaham
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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. 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
What does commercial conveyancing in Seaham cover?
Non domestic conveyancing in Seaham incorporates a broad array of advice, provided by qualified solicitors, relating to business premises. For example, this type of conveyancing can cover the sale or purchase of freehold business premises or, more usually, the assignment of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of tenancies.
My father has suggested that I instruct his conveyancers in Seaham. Should I use them?
Much as we are happy to recommend a Seaham conveyancing lawyer the best way to find a conveyancing solicitor is to have feedback from friends or relatives who have used the solicitor that you are contemplating using.
Can you offer any advice when it comes to finding a Seaham conveyancing firm to carry out our lease extension conveyancing?
If you are instructing a conveyancer for your lease extension (regardless if they are a Seaham conveyancing practice) it is imperative that they be familiar with the legislation and specialises in this area of conveyancing. We advise that you talk with two or three firms including non Seaham conveyancing practices before you instructing a firm. Where the conveyancing practice is ALEP accredited then that’s a bonus. The following questions could be helpful:
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Can they put you in touch with clients in Seaham who can give a testimonial?
Seaham Leasehold Conveyancing - A selection of Queries before Purchasing
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How much is the service charge and ground rent on the apartment? It is important to be aware whether a new roof is being put on or some other significant cost is pending that will be shared amongst the tenants and will materially increase the the maintenance charges or result in a specific invoice. It would be sensible to find out as much as you can about the managing agents as they will impact your use and enjoyment of the property. As the proprietor of a leasehold property you will be at the mercy of the managing agents from a financial perspective and when it comes to practical matters like the cleanliness of the common parts. Don't be afraid to ask prospective neighbours if they are happy with their management. Finally, be sure you know the dates that you are obliged pay the maintenance charge to the appropriate party and precisely how they are spending that money.