I am considering applying for a Nottingham mortgage for purchase of a new build (under development) in Johnstown with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for Nottingham ?
There is nothing to stop you using your solicitor, but Nottingham will insist on their interests being represented by a firm on their conveyancing panel. There is greater potential for delays and confusion with an additional lawyer added to the mix, and it will undoubtedly be more expensive too.
Forgive me if this question is silly but I am unexperienced as FTB of a ground floor flat in Johnstown. Do I collect the keys to the property on the completion date from my lawyer? If this is the case, I will instruct a High Street conveyancing solicitor in Johnstown?
There is no need to visit the lawyers office on the day of completion. Your solicitors will transfer the completion advance to the owner’s solicitors, and once they have received this, you should be able to collect the keys from the property Agents and move into your new home. Usually this occurs early afternoon.
Is it the case that all Johnstown CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing panel?
A selection of banks and building societies now utilise CQS as the starting point for Panel approval such as HSBC and Santander. The Law Society’s CQS accreditation however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for solicitors wishing to join their approved list of conveyancing solicitors.
I recently had an offer accepted on a house in Johnstown. My financial adviser recommended their conveyancers. I paid an on account payment of £225. A few days later, the lawyer contacted me to say that they were not on the TSB conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the TSB panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Johnstown. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Set out below are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Johnstown
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Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. There must be mutual enforceability of lessee’s covenants. Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease.
I opted to have a survey done on a property in Johnstown in advance of instructing solicitors. I have been informed that there is a flying freehold aspect to the property. My surveyor has said that some banks will refuse to give a mortgage on such a premises.
It varies from the lender to lender. HSBC has different requirements from Halifax. If you call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Johnstown. Conveyancing will be smoother if you use a solicitor in Johnstown especially if they are accustomed to such properties in Johnstown.
Should I appoint a Johnstown conveyancing practitioner in close proximity to the house I am purchasing? An old friend can carry out the conveyancing but his firm is located 200miles drive away.
The primary upside of using a local Johnstown conveyancing practice is that you can drop in to execute paperwork, deliver your ID and pester them if necessary. Having local Johnstown know how is a bonus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and they were content that should trump using an unfamiliar Johnstown conveyancing lawyer solely due to them being Johnstown based.
What could I expect to pay for conveyancing in Johnstown?
The amount you are charged for Johnstown conveyancing charges will differ significantly from firm to firm. Given these differences it all the more important that you have a complete summary of fees when you first choose a solicitor. You should also consider asking a few like for like quotes.