I am 3 weeks into the sale of my ground floor flat in Caldicot and the EA has just text me to warn that the purchasers are swapping property lawyer. The reason given is that the bank will only engage with solicitors on their approved list. On what basis would a leading lender only engage with certain solicitors rather the firm that they want to select to handle their conveyancing in Caldicot ?
Mortgage companies have always had an approved set of law firms that can represent them, but in recent years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Lending institutions justify this action to a rise in fraud by way of justification for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The purchasers are not going to have any impact on this.
I require conveyancing for an apartment in a fairly new development (seven years old) in Caldicot. Almost all the properties are already disposed of. Is it strictly necessary to order conveyancing searches as part of conveyancing in Caldicot?
Conveyancing Searches are a vital link in the Caldicot conveyancing process. There are hundreds search providers who offer Caldicot conveyancing searches, as well direct from the local authority. These are usually referred to as personal search providers due to them carrying out, personal searches. However, all Local Authority Search conveyancing products have one thing in common - they must obtain their data from the local authority.
I have todayfound out that Wolstenholmes have closed. They carried out my conveyancing in Caldicot for a purchase of a leasehold apartment 10 months ago. How can I be sure that the property is not still registered in the name of the previous owner?
The easiest way to check if the property is registered to you, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Caldicot conveyancing specialists.
Just had an offer accepted on a new build apartment in Caldicot. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Caldicot
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Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
Due to the guidance of my in-laws I had a survey completed on a property in Caldicot in advance of instructing lawyers. I have been advised that there is a flying freehold aspect to the house. My surveyor has said that some banks tend not give a loan on this type of house.
It varies from the lender to lender. HSBC has different instructions from Halifax. If you e-mail us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Caldicot. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Caldicot to see if the conveyancing will be more expensive.
All being well we will complete our sale of a £200,000 flat in Caldicot next Monday. The landlords agents has quoted £348 for Landlord’s certificate, insurance certificate and previous years service charge statements. Is it legal for a freeholder to charge an administration fee for a flat conveyance in Caldicot?
Caldicot conveyancing on leasehold apartments nine out of ten times involves fees being levied by freeholders :
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Completing pre-contract questions
Where consent is required before sale in Caldicot
Copies of the building insurance and schedule
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Caldicot Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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Who is in charge of the block? If a Caldicot lease has less than eighty years it will impact the value of the property. Check with your bank that they are content with residual term of the lease. Leases with fewer than 80 years remaining means that you will probably need a lease extension at some point and it is worth discovering what this would cost. Remember, in most cases you would be be obliged to have owned the property for a couple of years in order to be legally able to carry out a lease extension. How much is the ground rent and service charge?