My wife and I are hoping to acquire a 1 bedroom apartment in Seaton with a mortgage. We like our Seaton solicitor, however the bank advise she’s not on their "panel". It appears that we have little choice but to instruct one of the bank panel firms or continue with our Seaton lawyer and pay for one of their panel lawyers to act for them. We feel that this is inequitable; can we not insist that the bank use our Seaton property lawyer ?
No, not really. Your mortgage offer 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. A further alternative is for your Seaton conveyancing solicitor to apply to be on the conveyancing panel.
We're in Seaton, First timers buying with a mortgage (lender is Leeds Building Society , and our lawyer is on the Leeds Building Society conveyancing panel). How long should the conveyancing process take?
The fact that your lawyer is on the Leeds Building Society conveyancing panel is a help. It would almost certainly delay matters if they were not. However, no solicitor should guarantee a timeframe for your conveyancing, due to third parties outside of your control such as delays caused by lenders,conveyancing search providers or by the other side’s solicitors. The time taken is often determined by the number of parties in a chain.
I decided to have a survey carried out on a property in Seaton in advance of retaining lawyers. I have been advised that there is a flying freehold overhang to the property. The surveyor advised that some lenders tend not issue a mortgage on a flying freehold premises.
It depends who your proposed lender is. Santander has different requirements from Birmingham Midshires. Should you wish to call us we can check with the appropriate bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Seaton. Conveyancing may be slightly more expensive based on your lender's requirements.
We're FTB’s - had an offer accepted, yet the estate agent has warned us that the owners will only go ahead if we appoint their preferred conveyancers as they are insisting on a ‘quick sale’. We would rather use a high street solicitor used to conveyancing in Seaton
It is unlikely the owners are behind this. If they require ‘a quick sale', taking such a hostile approach to a genuine buyer is likely to cause more damage than good. Try to communicate with the sellers directly and make sure they comprehend that (a)you are keen to buy (b)you are excited to move forward, with finances arranged © you do not need to sell (d) you wish to move quickly (e)however you intend to use your own,trusted Seaton conveyancing firm - not the ones that will provide their estate agent a referral fee or hit his conveyancing thresholds demanded by HQ.
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £325,000 garden flat in Seaton on Monday in a week. The managing agents has quoted £336 for Landlord’s certificate, insurance certificate and 3 years service charge statements. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Seaton?
Seaton conveyancing on leasehold flats normally involves the purchaser’s lawyer sending enquiries for the landlord to address. Although the landlord is not legally bound to address such questions the majority will be willing to do so. They are entitled to invoice a reasonable charge for answering enquiries or supplying documentation. There is no upper cap for such fees. The average fee for the information that you are referring to is £350, in some situations it exceeds £800. The management information fee invoiced by the landlord must be sent together with a synopsis of rights and obligations in relation to administration charges, otherwise the invoice is not strictly payable. Reality however dictates that you have little choice but to pay whatever is demanded should you wish to exchange contracts with the buyer.
Seaton Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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This information is important as a) areas could result in problems for the block as the communal areas may begin to deteriorate where maintenance remain unpaid b) if the leaseholders have a dispute with the managing agents you will wish to have all the details Is the freehold owned jointly by the tenants? What is the maintenance charge and ground rent on the apartment?
Why is New Build conveyancing in Seaton more costly?
Buying a new build premises is completely different from the normal house purchase conveyancing in Seaton. Firstly housebuilders normally insist contracts to exchange within a tight deadline, the result being a a great deal of pressure on your lawyer to ensure everything is in order. Furthermore new build conveyancing often necessitate the checking of adoption of highways, drains, planning considerations, building warranties or architects certificates. Lenders obligations are also more demanding. Given the complex nature of the process for these types of properties, the conveyancing new build fees are higher than normal.