I have just been advised by my mortgage adviser that my Southsea the law firm I have appointed is not on the lender Solicitor panel. What can I do to be certain if this is indeed the case?
You need to call your Southsea conveyancer. You lawyer should advise you of the situation. Where they are not on the panel they could put your in touch with solicitors on the approved list of lawyers for your mortgage company.
Our son is purchasing a newly built flat in Southsea with a home loan from Kent Reliance. His solicitor has advised him of a delay in completing the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties engaged in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Kent Reliance conveyancing panel as a standard part of the process, and to the valuer when requested. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Kent Reliance conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
In reviewing moneysavingexpert.com for an affordable lawyer in Southsea, many comment that I should instruct a CQS kitemarked solicitor. What is CQS?
The Conveyancing Quality Scheme (CQS) provides a recognised quality standard for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * compliance with prudent and efficient conveyancing processes via the scheme protocol Membership covers many firms who execute conveyancing in Southsea.
My uncle informed me that in buying a property in Southsea there could be a number of restrictions limiting what one can do in terms of external alterations to the property. Is this right?
We are aware of anumerous of properties in Southsea which have some sort of restriction or requirement of consent to external changes. Part of the conveyancing in Southsea should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Is it the case that all Southsea solicitors on the Co-operative conveyancing panel are regulated by the SRA?
As solicitors, in order to be on the Co-operative conveyancing panel they would need to be governed by the SRA. Many lenders do permit licenced conveyancers on their panel in which case such practice would be regulated by the Council of Licensed Conveyancers.
I am purchasing a property in Southsea. A rare aspect is that the roof has a solar panel. Santander 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 Santander your lawyer must follow the formal requirements outlined in Part two of UK Finance Lenders’ Handbook for Santander. The Council of Mortgage Lenders’ Handbook sets out minimum conditions for solar panel roof-space leases, and lawyers are required to report to Santander where a lease fails to satisfy these provisions. The conditions relate to the installation of panels on properties nationwide and is not limited to Southsea.
I've recently bought a leasehold flat in Southsea. Do I have any liability for service charges for periods before my ownership?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure 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).
Southsea Leasehold Conveyancing - A selection of Queries before Purchasing
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You should be aware that where the lease has no more than 80 years it will have adverse implications on the marketability of the flat. It is worth checking with your mortgage company that they are willing to to proceed given the lease term. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth discovering what this would cost. Remember, in most cases you would need to own the property for two years before you are entitled to extend the lease. It would be sensible to discover as much as you can about the company managing the block as they will impact your use and enjoyment of the property. Being a leasehold owner you are frequently in the clutches of the managing agents both financially and when it comes to practical matters like the cleanliness of the common parts. You should not be shy to ask other tenants what they think of their management. On a final note, investigate as to the dates that you are obliged pay the maintenance charge to the managing agents and precisely what you get for your money.
I have noted on various online forums that before choosing a conveyancing lawyer they need approved by your mortgage company. I am first time buyer with but I have an offer in principle via Nat West Bank and I already have a bricks and morter conveyancing solicitor in Southsea on standby. Can Santander require an approved solicitor to be used? If so, where do I find that list for my conveyancing in Southsea?
You should instruct a solicitor that is on the Santander panel. Simply call your preferred Southsea conveyancing lawyer and ask if they are on the Santander panel. If they are not on the panel you have a couple of options open to you here:
- Complete the deal with your chosen Southsea conveyancing practitioner but Santander will no doubt use a property lawyer from their conveyancing panel. This will result in additional charges and potential frustration.
- Choose a new conveyancer to act in the purchase, obviously checking they are on the Santander conveyancing panel.
- Appeal to your property lawyer to apply to join the bank panel.