My wife and I are purchasing a 3 bedroom flat in Upper Tean with a mortgage. We like our Upper Tean lawyer, however the mortgage company advise she’s not on their "panel". We have to appoint one of the lender panel firms or retain our Upper Tean conveyancer and pay for one of their panel ones to represent them. This feels very unfair; are we not able to insist that the lender use our Upper Tean conveyancer ?
No, not really. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the lender’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 Upper Tean conveyancing lawyer to apply to be on the conveyancing panel.
When reading mumsnet.com for a conveyancing solicitor in Upper Tean, many post that I should look for a CQS accredited solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home moving process, trusted by some of the UK's biggest lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). CQS is not a scheme offered by the Council of Licensed Conveyancing. Upper Tean is one of the many areas of the UK where there are CQS solicitors.
Will my lawyer be making enquiries about flooding during the conveyancing in Upper Tean.
Flooding is a growing risk for solicitors conducting conveyancing in Upper Tean. Plenty of people will acquire a house in Upper Tean, fully aware that at some time, it may be flooded. However, leaving to one side the physical destruction, if a house is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or sell the property. Steps can be carried out as part of the conveyancing process to forewarn the buyer.
Lawyers are not qualified to offer advice on flood risk, however there are a numerous checks that may be carried out by the buyer or on a buyer’s behalf which can give them a better appreciation of the risks in Upper Tean. The conventional set of information supplied to a buyer’s lawyer (where the solicitors are adopting what is known as the Conveyancing Protocol) includes a usual inquiry of the seller to find out if the premises has ever been flooded. In the event that flooding has previously occurred which is not disclosed by the owner, then a buyer may bring a legal claim for losses stemming from an inaccurate answer. A buyer’s conveyancers may also conduct an environmental search. This should higlight if there is any known flood risk. If so, more detailed investigations should be conducted.
I decided to have a survey carried out on a house in Upper Tean before instructing lawyers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders will not give a loan on such a home.
It depends who your proposed lender is. Santander has different requirements for example to Nationwide. Should you wish to call us we can look into this further 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 Upper Tean. Conveyancing may be slightly more expensive based on your lender's requirements.
We expect to complete our sale of a £375,000 flat in Upper Tean next week. The freeholder has quoted £420 for Certificate of Compliance, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge exorbitant fees for a leasehold conveyance in Upper Tean?
For the majority of leasehold sales in Upper Tean conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
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Completing conveyancing due diligence enquiries
Where consent is required before sale in Upper Tean
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Upper Tean - Examples of Queries Prior to Purchasing
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It is important to be aware whether fixing the lift or some other major work is due in the near future that will be shared between the leasehold owners and will dramatically impact the level of the maintenance fees or necessitate a specific invoice. Does the lease have onerous restrictions? The best form of lease arrangement is a share of the freehold. In this scenario the leaseholders have being in charge if their destiny and even though a managing agent is often employed where the building is bigger than a house conversion, the managing agent employed by the leaseholders.
I am considering choosing a web based conveyancer as opposed to a Upper Tean conveyancing firm. Should I ‘stay local’?
There are advantages of being able to visit a local Upper Tean conveyancing solicitor for instance
- signing papers and and when necessary
- having one on one explanations of things that you need help with
- the ability to raise concerns if matters need to addressed
When checking fees, look out for hidden extras. The majority decent Upper Tean high street solicitors give an all-inclusive figure. Often online agents appear to offer discounted prices, yet have burried 'extras' in the small print.