I am nearing exchange of contracts for my apartment in Whiston and the estate agent has just called to say that the purchasers are changing their solicitor. The reason given is that the bank will only deal with solicitors on their conveyancing panel. Why would a major mortgage company only work with certain law firms rather the firm that they want to select for their conveyancing in Whiston ?
Banks have always had an approved set of law firms that can act for them, but in recent years big names such as Yorkshire Building Society, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Lending institutions point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say 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 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 unlikely to have any impact on this.
We were just about to sign contracts for a ground floor flat in Whiston. We encountered a snag. Our loan offer with Accord Mortgages Ltd expires on 3/11/2025 but the vendors are suggesting a completion date of 5/11/2025. Can one prolong the mortgage offer?
The best person to deal with your question is your solicitors who is in a position to assess if they corresponding with the mortgage company, vendor’s solicitors, selling agents or possibly all parties based on the circumstances your house move to date.
I am helping my aunt sell her property in Whiston. Does the conveyancing solicitor arrange the energy performance certificate or do I organise this?
After the abolition of HIPs, EPC’s was left as a mandatory part of selling a house. An EPC should be to hand before the property is put on the market. It is not something that law firms normally organise. If you are instructing a Whiston conveyancing solicitor they may be willing to arrange energy assessments given their relationships with long established Whiston energy assessors
A relative informed me that in buying a property in Whiston there may be various restrictions preventing external changes to the property. Is this right?
There are anumerous of properties in Whiston which have some sort of restriction or requirement of consent to execute external alterations. Part of the conveyancing in Whiston should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I've read lots of house buying guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Whiston solicitor - who is on the Principality conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Principality will need an independent valuation of the property. Your lawyer will not arrange this. Usually Principality will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your property lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Whiston postcode. As you are getting a mortgage with Principality, you could contact them to see if they have a list of approved surveyors in Whiston.
I've recently found out that there is a flying freehold element on a house I put an offer in a fortnight ago in what should have been a quick, chain free conveyancing. Whiston is the location of the property. Can you shed any light on this issue?
Flying freeholds in Whiston are rare but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Whiston you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Whiston may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
Am I better off to choose a Whiston conveyancing solicitor in close proximity to the house I am hoping to buy? I have an old university friend who can execute the conveyancing but his firm is located over three hundred kilometers drive away.
The benefit of a local Whiston conveyancing practice is that you can visit the firm to execute documents, deliver your ID and apply pressure on them where appropriate. They will also have local knowledge which is a plus. That being said nothing is more important than finding someone that will pull out all the stops for you. If if people you trust used your friend and in the main were content that must surpass using an unfamiliar Whiston conveyancing solicitor solely due to them being Whiston based.
I am employed by a long established estate agency in Whiston where we have experienced a number of flat sales jeopardised as a result of leases having less than 80 years remaining. I have received contradictory information from local Whiston conveyancing solicitors. Please can you shed some light as to whether the owner of a flat can initiate the lease extension process for the buyer?
Provided that the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to kick-start the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer need not have to sit tight for 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or simultaneously with completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.
Whiston Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to buying
-
The majority of Whiston leasehold properties will incur a service bill for the upkeep of the building invoiced by the management company. If you buy the property you will have to meet this charge, usually quarterly accross the year. This could be anything from a few hundred pounds to thousands of pounds for bigger purpose-built blocks. In all likelihood there will be a rentcharge for you to pay yearly, this is usually not a exorbitant amount, say about £50-£100 but you should to check as on occasion it could be many hundreds of pounds. Is anyone aware of any major works anticipated that could increase the service charges? Its a good idea to find out as much as you can regarding the managing agents as they will either make life much simpler or problematic. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to practical issues such as the upkeep of the communal areas. You should not be afraid to ask other tenants if they are happy with their management. Finally, find out the dates that the service charges are due to the managing agents and precisely what you get for your money.