Is the fact that my solicitor in Whittlesey is not listed on my lender's solicitor panel that there is a problem with the quality of her conveyancing?
It would be unwise to jump to that conclusion. There are plenty of reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should contact the Whittlesey conveyancing firm and enquire why they are no longer on the approved list for your mortgage company.
I have been told that property searches are the main reason for delay in Whittlesey conveyancing transactions. Is there any truth in this?
The Council of Property Search Organisations (CoPSO) has noted the findings of research by MoveWithUs that conveyancing searches do not feature within the common causes of hindrances in the conveyancing process. Local searches are not likely to feature in any slowing down conveyancing in Whittlesey.
I am buying my first flat in Whittlesey with a loan from Chelsea Building Society. The sellers would not reduce the price so I negotiated £7000 of fixtures and fittings instead. The sale representative suggested that I not disclose to my lawyer about the side-deal as it could affect my loan with Chelsea Building Society. Should I keep quiet?.
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 have been on the look out for a flat up to £305k and identified one close by in Whittlesey I like with a park and railway links in the vicinity, however it only has 49 remaining years left on the lease. There is not much else in Whittlesey suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan the shortness of the lease will likely be problematic. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the current proprietor has owned the property for a minimum of 2 years you could request that they start the process of the extension and pass it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should consult your conveyancing solicitor concerning this.
Taking into account that I am about to part with hundreds of thousands of pounds on 3 bedroom house in Whittlesey I wish to have a conversation with the conveyancer regarding thetransaction in advance of giving the go ahead to the firm. Is this something that you can arrange?
We could not agree more - it is our preference to talk to you we do not take any clients on without you speaking to the conveyancer who will be doing your conveyancing in Whittlesey.There is no ‘factory style conveyancing’ - every client is unique individual, not a file number. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Whittlesey should be the amount on the final invoice that you end up paying.
Due to sign contracts shortly on a leasehold property in Whittlesey. Conveyancing solicitors have said that they will have a report out to me within the next couple of days. Are there areas in the report that I should be focusing on?
Your report on title for your leasehold conveyancing in Whittlesey should include some of the following:
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Ground rent - what is due and what the invoice dates are, and also know whether this will change in the future Advice concerning the obligations as set out in the lease to to contribute towards maintenance costs - in relation to the building, and the more general rights a tenant enjoys The length of the lease term. You should be advised as what happens when the lease ends, and informed of the importance of not letting the lease term falling below eighty years Whether the landlord has obligations to ensure rights of quiet enjoyment over your premises and do you know what it means in practice? You need to be advised what is to be regarded as a Nuisance as far as the lease is concerned
Whittlesey Leasehold Conveyancing - Examples of Questions you should consider before buying
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It is important to be aware if window replacement or some other significant cost is anticipated that will be shared amongst the leasehold owners and will materially impact the level of the maintenance costs or require a one off invoice. You will want to discover as much as possible about the managing agents as they can either make life much easier or problematic. As the proprietor of a leasehold property you will be in the clutches of the managing agents from a financial perspective and when it comes to practical issues like the cleanliness of the common parts. You should not be shy to ask other people whether they are happy with their management. On a final note, be sure you understand the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds. How many of the leaseholders are in arrears for their maintenance charge payments?