I am one month into the sale of my flat in Standish and the EA has just telephoned to advise that the buyers are appointing a new conveyancer. The excuse is that the lender will only work with solicitors on their conveyancing panel. On what basis would a big named mortgage company only deal with certain law firms rather the firm that they want to select to handle their conveyancing in Standish ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. Banks tend not to reveal 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. Plenty of firms 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 purchasers are unlikely to have any impact on this.
I have given 8 weeks notice to my existing landlord and have to leave my let out property in Standish by the end of next month. Conveyancing on my purchase has just started. How realistic is it to complete in six weeks as don't want to have to move into temporary accommodation?
The normal practice is not to give notice on a rental until exchange of contracts has taken place. If you have not previously done so, contact to your lawyer and urge them to they apply pressure on the sellers side, try to an agreed time frame that everyone will work towards
we are a couple who are buying a newly converted apartment in Standish with a loan from Yorkshire Building Society.We have a Standish conveyancing lawyer but Yorkshire Building Society informed us he's not on their "panel". It seems we have no choice but to instruct a Yorkshire Building Society panel solicitor or keep our local solicitor and fork out for one of their panel ones to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. The mortgage issued to you contains various provisions, one of which will be that solicitors needs to be on the Yorkshire Building Society approved list. in the past, most mortgage companies had large numbers of law firms on their panels: a borrower could find 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 lawyer to apply to be on the conveyancing panel for Yorkshire Building Society
A colleague recommended that where I am purchasing in Standish I should carry out a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is occasionally included in the estimate for your Standish conveyancing searches. It is a large document of more than thirty pages, listing and detailing important information about Standish around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, Standish Education with plans and statistics, Local Amenities and other useful data concerning Standish.
As co-executor for the will of my father I am selling a house in Neath but I am based in Standish. My solicitor (based 250 kilometers from merequires that I sign a statutory declaration before the transaction finalising. Can you recommend a conveyancing lawyer in Standish who can witness this legal document for me?
strictly speaking you are unlikely to be required to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will do regardless of whether they are located in Standish
I've found a house that appears to be perfect, at a reasonable figure which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I am assuming that there are issues buying a house with a leasehold title in Standish. Conveyancing lawyers have not yet been appointed. Will they explain the issues?
The majority of houses in Standish are freehold rather than leasehold. This is one of the situations where having a local conveyancer used to dealing with such properties who can assist with the conveyancing process. It is clear that you are purchasing in Standish so you should seriously consider looking for a Standish conveyancing practitioner and be sure that they have experience in dealing with leasehold houses. First you will need to check the unexpired lease term. As a tenant you will not be entirely free to do whatever you want with the house. The lease will likely included provisions for example requiring the freeholder’sconsent to carry out alterations. You may also be required to pay a contribution towards the maintenance of the estate where the property is part of an estate. Your solicitor should advise you fully on all the issues.
Standish Leasehold Conveyancing - Examples of Questions you should ask Prior to Purchasing
-
What is the yearly service fee and ground rent? Does the lease have more than 85 years left? What is the name of the managing agents?