I am nearing exchange of contracts for my house in Stockton Heath and the EA has just e-mailed to warn that the buyers are appointing a new solicitor. The reason given is that the mortgage company will only deal with property lawyers on their conveyancing panel. Why would a major mortgage company only engage with certain lawyers rather the firm that they want to appoint to handle their conveyancing in Stockton Heath ?
UK lenders have always had an approved set of law firms that can represent them, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Lending institutions point to the increase in fraud as the reason 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 being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any impact on this.
I am close to exchanging contracts on the sale of our house in Stockton Heath and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A high street Stockton Heath conveyancer would know this is not the case. It does beg the question why the buyers used an internet conveyancing outfit rather than a conveyancing solicitor in Stockton Heath. We have lived in Stockton Heath for three years we know of no issue. Should we contact our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing solicitor already. What do they say? You must 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 life insurance to cover that same illness)
About to purchase a new build apartment in Stockton Heath. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here is a sample of a few leasehold new build questions that you may expect your new-build leasehold conveyancing in Stockton Heath
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Forfeiture - bankruptcy or liquidation must not apply under this provision. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
Due to the input of my in-laws I had a survey completed on a property in Stockton Heath before retaining solicitors. I have been told that there is a flying freehold overhang to the property. Our surveyor advised that some banks will refuse to grant a mortgage on such a property.
It depends who your proposed lender is. Santander has different instructions from Halifax. Should you wish to call us we can check with the relevant bank. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Stockton Heath. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Stockton Heath to see if the conveyancing costs will increase in light of this.
Am I best advised to use a Stockton Heath conveyancing lawyer who is local to the property I am purchasing? We have a good friend who can conduct the legal formalities but his firm is located 400kilometers drive away.
The benefit of a local Stockton Heath conveyancing firm is that you can attend the office to sign paperwork, hand in your ID and pester them where appropriate. They will also have local intelligence which is a bonus. That being said it's more important to get someone that will do a good and efficient job. If other friends have used your friend and on the whole were impressed that must outweigh using an unknown Stockton Heath conveyancing lawyer just because they are based in the area.
I have just started marketing my ground floor flat in Stockton Heath.Conveyancing has not commenced however I have just received a yearly service charge demand – should I leave it to the buyer to sort out?
Your conveyancing lawyer is likely to suggest that you should discharge the invoice as normal as all ground rent and service charges should be apportionedas part of the financial calculations for completion monies, so you will be reimbursed by the purchaser for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date so it is important for both buyer and seller for the seller to show that they are up to date. This will smooth the conveyancing process