My husband and I are looking to acquire a flat in Yaxley and have instructed a Yaxley conveyancing practice. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Accord Mortgages Ltd have this morning contacted us to inform me that they have now hit a problem as our Yaxley conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual 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 Accreditation Scheme. Your solicitor should contact your mortgage company 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 Yaxley lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
After researching moneysavingexpert.com for a recommended solicitor in Yaxley, most post that I must instruct a CQS kitemarked solicitor. What is CQS?
The Law Society's Conveyancing Quality Scheme is the recognised kitemark for legal experts in home ownership transfers, trusted by some of the UK's leading lenders. Four years ago the Conveyancing Quality Scheme was officially recognised by the Association of British Insurers (ABI). The scheme does not cover licenced conveyancers. Yaxley is one of the numerous areas in England and Wales where there are Accredited solicitors.
four months have gone by since my purchase conveyancing in Yaxley took place. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £160,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I opted to have a survey carried out on a house in Yaxley prior to retaining solicitors. I have been informed that there is a flying freehold aspect to the property. The surveyor has said that some banks will not grant a loan on a flying freehold property.
It varies from the lender to lender. Lloyds has different instructions for example to Halifax. If you e-mail us we can investigate further via the relevant bank. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Yaxley. Conveyancing will be smoother if you use a solicitor in Yaxley especially if they are familiar with such properties in Yaxley.
How simple is it to change firm as I have to find one who is on the Norwich and Peterborough Building Society conveyancing panel. I instructed a high street conveyancing solicitor in Yaxley five minutes from me but the firm is not accepted by Norwich and Peterborough Building Society
It would be our pleasure to assist you select a conveyancing solicitor in Yaxley on the Norwich and Peterborough Building Society panel. Please note that the law firms that we on the directory do not pay us fee if you instruct them and are registered with the Solicitors Regulation Authority who regulate all conveyancing solicitors in Yaxley. In making use of search facility on this page, you can contrast charges for conveyancing solicitors in Yaxley and throughout England and Wales.
All being well we will complete the sale of our £125,000 garden flat in Yaxley in six days. The landlords agents has quoted £420 for Certificate of Compliance, insurance certificate and previous years statements of service charge. Is the landlord entitled to charge exorbitant fees for a flat conveyance in Yaxley?
For the majority of leasehold sales in Yaxley conveyancing will involve, questions about the management of a building inevitably needing to be answered directly by the freeholder or its agent, this includes :
-
Addressing conveyancing due diligence questions
Where consent is required before sale in Yaxley
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Yaxley Conveyancing for Leasehold Flats - Sample of Questions you should ask before Purchasing
-
Who manages the block? How long is the Lease? Plenty Yaxley leasehold properties will be liable to pay a service charge for maintenance of the block levied by the landlord. Where you acquire the property you will have to meet this liability, usually in instalments during the year. This could be anything from a few hundred pounds to thousands of pounds for blocks with lifts and large communal grounds. There will also be a rentcharge to be met yearly, normally this is not a large sum, say approximately £25-£75 but you should to check it because sometimes it can be surprisingly expensive.