I am nearing exchange of contracts for my flat in Ware and the estate agent has just e-mailed to say that the purchasers are switching conveyancer. I am told that this is due to the fact that the mortgage company will only work with property lawyers on their approved list. On what basis would a big named lender only work with specific law firms rather the firm that they want to choose for their conveyancing in Ware ?
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 Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 15 years.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to oversee. 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 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. Your purchasers are unlikely to have any impact on this.
I am nearing an exchange on a flat in Ware and my parents have transferred the 10% deposit to my solicitor. I am now advised that as the deposit has been sent from someone other than me my conveyancing practitioner needs to make a notification to my mortgage company. Apparently, in also acting for the bank he must advise them that the balance of the purchase price is not just from me. I advised the bank regarding my parents' contribution when I applied for the mortgage, so is it really appropriate for him to raise this?
The property lawyer is duty bound to clarify with the bank to make sure that they are aware that the balance of the purchase price is not from your own funds. The solicitor can only reveal this to your bank if you agree, failing which, your lawyer must cease to continue acting.
I am due to move home in October. Will my conveyancing solicitor communicate with the removal company on the day of completion. Incidentally, can you put forward a removal company in Ware. Conveyancing solicitor was organised before I stumbled across your page.
On the afternoon of completion you can pick up the house keys from the selling agent but this can only take place once the vendors lawyers confirm to the agent that they acknowledge receipt of the completion payment and the keys can be passed over. After that you should tell the removal company that you are ready to move in. We are not in a position to suggest a specific removal company but can help you locate a conveyancing in Ware or a solicitor that specialises in conveyancing in Ware.
Is it the case that all Ware solicitor practices on the Kent Reliance conveyancing panel are governed by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the Kent Reliance approved list of solicitors they would need to be overseen by the Solicitors Regulatory Authority. Many banks do allow licenced conveyancers on their panel in which case such practice would be governed by the CLC.
We previously chose conveyancers located in Ware on the Coventry BS solicitor panel. They are now charging me a further charge for dealing with the Coventry BS mortgage. Is this a supplemental conveyancing fee specified by Coventry BS?
As unfair as it may seem, as long as it’s in their Terms of Engagement or Quote then yes your conveyancing practitioner is entitled to levy a fee for this. This fee is not set by Coventry BS but by your Ware solicitor. Some firms on the Coventry BS panel will charge ’dealing with mortgage’ fee but some practices incorporate it on their overall fee.
I am buying a new build flat in Ware. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here are examples of a few leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Ware
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
My partner has urged me to instruct his conveyancers in Ware. Should I use them?
There are no two ways about it it’s preferable to choose a conveyancing solicitor is to seek guidance from friends or family who have actually experience in using the conveyancer you're contemplating using.
I today plan to offer on a house that seems to tick a lot of boxes, at a reasonable figure which is making it more attractive. I have subsequently been informed that the title is leasehold as opposed to freehold. I would have thought that there are particular concerns buying a house with a leasehold title in Ware. Conveyancing lawyers have are about to be instructed. Will they explain the issues?
The majority of houses in Ware are freehold rather than leasehold. In this scenario it’s worth having a local solicitor who is familiar with the area who can help the conveyancing process. We note that you are purchasing in Ware so you should seriously consider looking for a Ware conveyancing practitioner and check that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want with the house. The lease comes with conditions for example obtaining the freeholder’spermission to carry out alterations. It may be necessary to pay a maintenance charge towards the maintenance of the communal areas where the property is located on an estate. Your solicitor will report to you on the legal implications.
Ware Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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On the whole the cost for major works are not included within service charges, albeit that a few managing agents in Ware ask tenants to pay into a sinking fund and this is used to offset against major works. The prefered form of lease arrangement is where the freehold interest is owned by the leaseholders. In this arrangement the leaseholders benefit from being in charge if their destiny and notwithstanding that a managing agent is frequently retained if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Does this lease have in excess of 82 years left?