I am nearing exchange of contracts for my flat in Waddington and the estate agent has just called to warn that the purchasers are changing their property lawyer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their conveyancing panel. On what basis would a major lender only deal with certain law firms rather the firm that they want to appoint to handle their conveyancing in Waddington ?
UK lenders have always had panels of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been stiffened as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices 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. The purchasers are unlikely to have any sway in the decision.
Would the conveyancing solicitors listed on your site handle right to buy conveyancing in Waddington?
We do have plenty of conveyancing lawyers who can handle right to buy transactions Do e-mail the conveyancers listed with a view to secure a costs illustration.
Do all mortgage companies provide you with an approved list of Waddington conveyancing solicitors? How do you know who is on the Santander conveyancing panel?
Waddington conveyancing firms themselves provide us confirmation that they are on the Santander conveyancing panel as opposed to being supplied with a list from Santander directly.
I used Action Conveyancing a few years past for my conveyancing in Waddington. Now, I need my files but the law firm is no longer operating. What do I do?
Do call the Solicitors Regulatory Authority (SRA) to help locate your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Waddington of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
I have been on the look out for a ground for flat up to £235,500 and identified one close by in Waddington I like with open areas and railway links nearby, however it only has 49 years unexpired on the lease. I can't really find anything else in Waddington suitable, so just wondered if I would be making a mistake buying a lease with such few years left?
Should you require a mortgage the remaining unexpired lease term will likely be an issue. Reduce the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the property for at least 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor about this matter.
I am in need of some leasehold conveyancing in Waddington. Before I set the wheels in motion I require certainty as to the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and most are in Waddington - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
Waddington Conveyancing for Leasehold Flats - Sample of Queries before buying
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Plenty Waddington leasehold flats will incur a service bill for the upkeep of the building levied by the freeholder. Where you buy the property you will have to pay this amount, normally quarterly during the year. This could differ from a couple of hundred pounds to thousands of pounds for blocks with lifts and large communal areas. In all probability there will be a ground rent to be met annual, normally this is not a exorbitant amount, say around £50-£100 but you need to check as occasionally it can be many hundreds of pounds. Who are the managing agents? Are any of leasehold owners in arrears of their service charge payments?