I am in the process of selling my house in Welton and the estate agent has just text me to say that the purchasers are changing their law firm. The excuse is that the lender will only engage with solicitors on their conveyancing panel. On what basis would a leading lender only deal with specific solicitors rather the firm that they want to select for their conveyancing in Welton ?
Banks have always had panels of law firms they are willing to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lenders point to the increase in fraud as the reason for the reduction – criteria have been tightened as a smaller panel is easier to monitor. No lender will say 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 are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
Can you recommend a Nationwide Building Society sanctioned Welton conveyancing practice that can complete within 10 days? Am I best advised to unstruct a local Welton firm or an online comparison site?
We can recommend some very good Welton conveyancing firms. Another option is to visit the high street in Welton. Approach two or three firms and request to speak with a conveyancing solicitor for a quote. Mention your time frames together with your reasons and ask for a commitment on your deadline. Appoint the one that genuine.
We are looking to buy a flat and need a conveyancing solicitor in Welton who is on the Barclays approved panel. Could you point me in the right direction as regards a firm?
Our service is limited to being a directory service for firms who wish to be listed as being on the approved conveyancing panel for Barclays . We don't recommend any particular firms conducting conveyancing in Welton.
I am buying a new build flat in Welton. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Welton
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Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. There must be mutual enforceability of lessee’s covenants.
I was advised by numerous estate agents in Welton to select a conveyancer on your site. What’s the financial incentive for Estate Agents to recommend your site rather than alternative conveyancing organisations?
We don’t make any commission for sending work in our direction. We found it would be just too difficult to pay a commission because a client could think, ‘How come the agent getting a kickback? Why am I not receiving any benefit too?’ So we decided to step away from that.
I am in need of some leasehold conveyancing in Welton. Before I set the wheels in motion I would like to find out the number of years remaining on the lease.
Assuming the lease is recorded at the land registry - and 99.9% are in Welton - then the leasehold title will always include the basic details 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.
Welton Conveyancing for Leasehold Flats - Sample of Questions you should ask before buying
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Its a good idea to find out as much as possible concerning the company managing the block as they will either make your life much easier or problematic. Being a leasehold owner you will be in the clutches of the managing agents from a financial perspective and when it comes to every day matters like the cleanliness of the communal areas. Ask prospective neighbours what they think of their management. On a final note, find out the dates that you are obliged pay the service charge to the relevant party and specifically what it includes. Are there any major works in the near future that will add a premium to the service charges? Is the freehold reversion owned jointly by the tenants?