I am in the process of selling my maisonette in Tisbury and the estate agent has just called to advise that the purchasers are switching law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their conveyancing panel. On what basis would a leading lender only work with certain law firms rather the firm that they want to appoint for their conveyancing in Tisbury ?
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 Santander, 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 reduction – criteria have been narrowed as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says 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. The purchasers are unlikely to have any impact on this.
We are selling our flat in Tisbury. Does my property lawyer need to be required to be on the Nottingham conveyancing panel in order to deal with paying off my mortgage?
Ordinarily, even if your lawyer is not on the Nottingham conveyancing panel they can still act for you on your sale. It might be that the lender will not release the original deeds (if applicable and increasingly irrelevant) until after the mortgage is paid off. You should speak to your lawyer directly before you start the process though to ensure that there is no problem as lenders are changing their conditions fairly frequently currently.
My wife and I are planning on selling our property in Tisbury and the buyers lawyers are claiming that there is a risk of it being built land that was not decontaminated. Any local lawyer would know that there is no such problem. It does beg the question why the purchasers are using a factory type conveyancing practice as opposed to a conveyancing solicitor in Tisbury. We have lived in Tisbury for many years we know that this is a non issue. Should we get in touch with our local Authority to obtain confirmation that the buyers are looking for.
It would appear that you have a conveyancing firm 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 life insurance to cover that same illness)
What does commercial conveyancing in Tisbury cover?
Non domestic conveyancing in Tisbury covers a broad range of services, offered by qualified solicitors, relating to business premises. For instance, this type of conveyancing can cover the sale or purchase of freehold business premises or, more commonly, the transfer of existing leases or the drafting of new leasing arrangements. Commercial conveyancing solicitors can also offer advice on the sale of business assets, commercial loans and the termination of leases.
I need to instruct a conveyancing solicitor in Tisbury for my home move. Can I check a solicitor's record with the legal regulator?
Members of the public can find presented Solicitor Regulator Association (SRA) determinations resulting from inquisitions started on or after Jan 2008. Go to Check a solicitor's record. For information Pre 2008, or to check a firm's history, telephone 0870 606 2555, 08.00 - 18.00 Monday, Wednesday, Thursday, Friday and 09.30 - 18.00 Tuesday. For non-uk callers, dial +44 (0)121 329 6800. The regulator sometimes monitor telephone calls for training reasons.
Can you provide any advice for leasehold conveyancing in Tisbury with the aim of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Tisbury can be avoided where you get in touch lawyers the minute your agents start marketing the property and request that they start to collate the leasehold information which will be required by the buyers’ conveyancers. In the event that you altered the property did you need the Landlord’s permission? In particular have you laid down wooden flooring? Most leases in Tisbury state that internal structural changes or addition of wooden flooring calls for a licence issued by the Landlord consenting to such changes. Where you fail to have the consents in place do not communicate with the landlord without checking with your lawyer first. Some Tisbury leases require Licence to Assign from the landlord. If this is the case, it would be prudent to place the estate agents on notice to make sure that the purchasers obtain bank and professional references. Any bank reference should make it clear that the buyer is able to meet the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. If there is a history of conflict with your freeholder or managing agents it is very important that these are resolved before the property is marketed. The buyers and their solicitors will be reluctant to purchase a flat where a dispute is ongoing. You will have to accept that you will have to pay any arrears of service charge or settle the dispute prior to completion of the sale. It is therefore preferable to have any dispute settled prior to the contract papers being issued to the buyers’ solicitors. You will still have to reveal details of the dispute to the purchasers, but it is clearly preferable to present the dispute as over rather than unresolved.
Tisbury Conveyancing for Leasehold Flats - Examples of Questions you should consider Prior to buying
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It is important to be aware whether a new roof is being put on or some other major work is coming up to be shared between the tenants and will dramatically impact the level of the maintenance charges or require a specific payment. How many years remain on the lease?