I am selling my flat in Shawbury and the EA has just text me to warn that the buyers are appointing a new solicitor. The excuse is that the lender will only deal with solicitors on their approved list. Why would a major mortgage company only work with specific law firms rather the firm that they want to choose to handle their conveyancing in Shawbury ?
Lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for over 25 years.
Lending institutions blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to maintain. Banks tend not to disclose how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some 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. Your buyers are unlikely to have any impact on this.
Do banks and building societies provide you with an approved list of Shawbury conveyancing solicitors? How do you know who is on the Clydesdale conveyancing panel?
Shawbury conveyancing firms themselves provide us confirmation that they are on the Clydesdale conveyancing panel as opposed to being supplied with a list from Clydesdale directly.
We are selling our home in Shawbury and the buyers lawyers are claiming that there is a risk of it being constructed on contaminated land. Any local conveyancer would know this is not the case. It does beg the question why the purchasers used a web based conveyancing firm rather than a conveyancing solicitor in Shawbury. We have lived in Shawbury for three years we know of no issue. Is it a good idea to contact our local Authority to get clarification that the buyers are looking for.
It sounds as though you may have a conveyancing lawyer already. What do they say? You should check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out health insurance to cover that same sickness)
Over the last few months I have been searching for a leasehold apartment up to £305k and found one close by in Shawbury I like with open areas and railway links nearby, the downside is that it only has 51 years unexpired on the lease. I can't really find anything else in Shawbury suitable, so just wondered if I would be making a mistake acquiring a short lease?
Should you need a home loan the remaining unexpired lease term will be an issue. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the property for at least 2 years you may request that they commence the lease extension formalities and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this.
In what way can the Landlord & Tenant Act 1954 impact my commercial offices in Shawbury and how can your lawyers assist?
The particular law that you refer to affords a safeguard to commercial lessees, giving them the dueness to make a request to court for a new lease and continue in occupation at the end of an expired lease. There are limited grounds that a landlord can refuse a lease renewal and the rules are complex. We are happy to direct you to commercial conveyancing solicitors who use the act to your advantage and handle your commercial conveyancing in Shawbury
There are only 72 years remaining on my lease in Shawbury. I am keen to extend my lease but my freeholder is missing. What options are available to me?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to find the landlord. On the whole an enquiry agent would be helpful to carry out a search and to produce a report which can be accepted by the court as proof that the landlord is indeed missing. It is advisable to get professional help from a conveyancer both on investigating the landlord’s disappearance and the vesting order request to the County Court covering Shawbury.
Leasehold Conveyancing in Shawbury - Sample of Queries before buying
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Does the lease have in excess of 85 years left? Make sure you investigate if the the lease includes any adverse restrictions in the lease. For example plenty of leases prohibit pets being allowed in in a block in Shawbury. If you like the propertyin Shawbury however your dog can’t move with you then you have a very difficult compromise. How much is the ground rent and service charge?