Me and my wife are purchasing residence in Tilbury. My lawyer has never been on on the bank approved list. Am I still permitted to retain my Tilbury conveyancing solicitor notwithstanding that they are excluded from the lender panel of approved conveyancing solicitors?
Various options include
- Proceed with your existing Tilbury conveyancer but your mortgage company will need to use a conveyancing practitioner from their approved list. This will result in additional cost together with potential delay.
- Appoint a fresh conveyancing practitioner to act in the purchase, ensuring that they are on the bank conveyancing panel.
- Convince your lawyer to pull out all the stops to get accepted on the mortgage company panel of solicitors
I am considering applying for a Yorkshire BS mortgage for purchase of a new build (under development) in Tilbury with 65 per cent LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Yorkshire BS ?
In theory, you could use a solicitor that is not on the Yorkshire BS conveyancing panel, but Yorkshire BS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same transaction.
Should my conveyancer be raising enquiries concerning flooding as part of the conveyancing in Tilbury.
Flooding is a growing risk for conveyancers dealing with homes in Tilbury. There are those who purchase a house in Tilbury, fully aware that at some time, it may suffer from flooding. However, aside from the physical damage, where a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the property. Steps can be carried out during the course of a property purchase to forewarn the purchaser.
Lawyers are not best placed to give advice on flood risk, however there are a number of checks that can be carried out by the purchaser or by their conveyancers which will give them a better understanding of the risks in Tilbury. The conventional set of property information forms sent to a purchaser’s lawyer (where the Conveyancing Protocol is adopted) incorporates a usual question of the owner to discover whether the property has suffered from flooding. If flooding has previously occurred which is not revealed by the owner, then a buyer could bring a compensation claim resulting from an incorrect answer. A purchaser’s lawyers should also commission an environmental report. This will higlight whether there is a recorded flood risk. If so, further investigations will need to be initiated.
Due to the encouragement of my in-laws I had a survey completed on a property in Tilbury prior to instructing lawyers. I have been advised that there is a flying freehold element to the property. The surveyor has said that some mortgage companies will not grant a loan on such a premises.
It depends who your proposed lender is. Santander has different instructions from Birmingham Midshires. Should you wish to call us we can check via the appropriate mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Tilbury. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Tilbury to see if the conveyancing will be more expensive.
I am looking into buying my first house which is in Tilbury and I am already nervous. I couldn't find anything specific about Tilbury. Conveyancing will be needed in due course but do you know about the Tilbury area? or perhaps some other tips you can share?
Rather than looking online forget looking online you should go and have a look at Tilbury. In the meantime here are some basic statistics that we found
Our conveyancer has advised that he intends to complete and exchange simultaneously on the disposal of our £350,000 flat in Tilbury next Monday. The managing agents has quoted £384 for Landlord’s certificate, insurance certificate and 3 years statements of service charge. Is it legal for a freeholder to charge an administration fee for a leasehold conveyance in Tilbury?
Tilbury conveyancing on leasehold maisonettes often requires the purchaser’s lawyer sending enquiries for the landlord to answer. Although the landlord is not legally bound to answer these enquiries the majority will be willing to assist. They are entitled to charge a reasonable administration fee for responding to questions or supplying documentation. There is no upper cap for such fees. The average costs for the paperwork that you are referring to is over three hundred pounds, in some situations it is above £800. The administration charge required by the landlord must be accompanied by a synopsis of entitlements and obligations in relation to administration fees, otherwise the charge is technically not due. In reality you have no option but to pay whatever is demanded if you want to sell the property.
Tilbury Leasehold Conveyancing - A selection of Questions you should consider before Purchasing
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Generally speaking the cost for major works are not built into the maintenance charges, although a few managing agents in Tilbury obliged leasehold owners to contribute towards a sinking fund created for the specific intention of building a fund for major works. This information is useful as a) areas can result in problems for the building as the common areas may start to deteriorate if repairs are not paid for b) if the leaseholders have an issue with the managing agents you will want to have all the details Best to be warned whether changing the roof or some other significant cost is anticipated to be shared between the leasehold owners and could well materially impact the level of the maintenance charges or necessitate a one off invoice.