My husband and I are planning to acquire a property in Westbourne and have instructed a Westbourne conveyancing firm. Within the last couple of days our lawyer has sent a preliminary report and documents to look through with a view to exchanging next week. Chelsea Building Society have this evening contacted us to inform me that they have now hit a problem as our Westbourne solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Westbourne lawyers, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Various internet forums that I have come across warn that are a common cause of obstruction in Westbourne conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the determinations of a review by MoveWithUs that conveyancing searches do not figure amongst the most frequent causes of hindrances in the conveyancing process. Local searches are not likely to be the root cause of holding up conveyancing in Westbourne.
I am buying my first flat in Westbourne with the aid of help to buy. The developers would not reduce the amount so I negotiated 6k of additionals instead. The sale representative advised me not to tell my lawyer about this side-deal as it may affect my mortgage with the bank. Do I keep my lawyer in the dark?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
I opted to have a survey done on a house in Westbourne prior to instructing conveyancers. I have been told that there is a flying freehold aspect to the property. My surveyor has said that some mortgage companies tend not issue a loan on this type of premises.
It depends who your proposed lender is. HSBC has different instructions from Birmingham Midshires. 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 help as they are used to dealing with flying freeholds in Westbourne. Conveyancing may be slightly more expensive based on your lender's requirements.
How simple is it to swap firm as I need to instruct one who is on the Halifax conveyancing panel. I was using a local conveyancing solicitor in Westbourne round the corner but he is not accepted by Halifax
We will our best to assist in finding you a conveyancing solicitor in Westbourne on the Halifax panel. Please note that the solicitors that we on the directory do not pay us a referral fee if you instruct them and are regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Westbourne. In making use of search facility on this site, you can scrutinise fees for conveyancing solicitors in Westbourne and throughout England and Wales.
I today plan to offer on a house that seems to be perfect, at a great price which is making it more attractive. I have subsequently discovered that it's a leasehold rather than freehold. I would have thought that there are particular concerns purchasing a leasehold house in Westbourne. Conveyancing lawyers have are about to be instructed. Will my lawyers set out the risks of buying a leasehold house in Westbourne ?
Most houses in Westbourne are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. We note that you are purchasing in Westbourne in which case you should be shopping around for a Westbourne conveyancing solicitor and check that they are used to dealing with leasehold houses. First you will need to check the number of years remaining. As a tenant you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example obtaining the landlord’sconsent to conduct alterations. It may be necessary to pay a contribution towards the maintenance of the communal areas where the house is located on an estate. Your solicitor should report to you on the legal implications.
Westbourne Leasehold Conveyancing - A selection of Questions you should ask before Purchasing
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You will want to find out as much as possible concerning the managing agents as they will impact your use and enjoyment of the property. Being a leasehold owner you are often in the clutches of the managing agents both financially and when it comes to practical issues such as the cleanliness of the communal areas. Ask other tenants what they think of them. In conclusion, investigate as to the dates that the service fees are due to the appropriate party and specifically what you get for your money. The answer will be helpful as a) areas can cause problems in the block as the communal areas may start to deteriorate if repairs remain unpaid b) if the tenants have a dispute with the managing agents you will need to have full disclosure The best form of lease arrangement is where the freehold interest is owned by the leaseholders. In this scenario the tenants enjoy being in charge if their destiny and even though a managing agent is frequently employed if the building is larger than a house conversion, the managing agent employed by the leaseholders.