My wife and I are hoping to purchase a 1 bedroom apartment in Westbourne with a mortgage. We have a Westbourne conveyancer, but the mortgage company advise she’s not on their "panel". It appears that we have no choice but to appoint one of the mortgage company panel conveyancing practices or continue with our Westbourne property lawyer as well as pay for one of their panel firms to represent them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’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 Westbourne conveyancing lawyer to apply to be on the conveyancing panel.
Our solicitor has discovered a a problem with the lease for the property we are purchasing in Westbourne. The other side have suggested defective title insurance as a solution. We are content with insurance and will pay for it. Our conveyancing practitioner has advised that he must be satisfied that the mortgage company is content with this solution. Are we the client or is the mortgage company ?
Notwithstanding that you have a mortgage offer from the bank does not mean to say that the property will meet their specifications for the purposes of a mortgage. Your lawyer has to ensure that the lease has to comply with the UK Finance Lenders’ Handbook specifications. You and the bank are the client. These conveyancing instructions must be adhered to.
Just had an offer accepted on a new build apartment in Westbourne. Conveyancing is a frightening process 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.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Westbourne
-
Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision. The Landlord must covenant to assume the management if the Management Company goes into liquidation or otherwise defaults in running the management scheme.
I was recommended by a number of property agents in Westbourne to choose a conveyancer on your site. What’s the financial inducement for Estate Agents to offer your services over alternative conveyancing organisations?
We don’t give any referral fee for sending work in our direction. We found it would be just too difficult to pay a commission because home movers will think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ So we decided to step away from that.
As co-executor for the estate of my grandmother I am selling a property in Cardiff but I am based in Westbourne. My conveyancer (based 200 kilometers awayrequires that I sign a statutory declaration prior to completion. Can you recommend a conveyancing lawyer in Westbourne who can attest this legal document for me?
strictly speaking you should not need to have the documents witnessed by a conveyancing solicitor. Ordinarily or notary public or solicitor will be fine regardless of whether they are located in Westbourne
All being well we will complete the sale of our £325,000 maisonette in Westbourne in seven days. The managing agents has quoted £360 for Certificate of Compliance, building insurance schedule and previous years statements of service charge. Is it legal for a freeholder to charge such fees for a leasehold conveyance in Westbourne?
Westbourne conveyancing on leasehold maisonettes often requires the purchaser’s lawyer sending questions for the landlord to answer. Although the landlord is not legally bound to answer such questions most will be content to do so. They may levy a reasonable administration fee for answering enquiries or supplying documentation. There is no set fee. The average costs for the information that you are referring to is over three hundred pounds, in some situations it is in excess of £800. The management information fee demanded by the landlord must be sent together with a synopsis of entitlements and obligations in relation to administration charges, otherwise the invoice is technically not due. Reality however dictates that you have little option but to pay whatever is demanded should you wish to complete the sale of your home.
Leasehold Conveyancing in Westbourne - Sample of Questions you should consider Prior to buying
-
Who are the managing agents? In the main the outlay for major works tend not to be included within maintenance charges, although a few managing agents in Westbourne ask leaseholders to contribute towards a reserve fund created for the specific purpose of establishing a fund for major repairs or maintenance.