I had intended to instruct a property lawyer in Astley for our house move. Our broker has since advised us that our bank HSBC Bank won't deal with them. Why is this not regarded as unduly restrictive?
Before the recession most banks had a different appetite for risk. Almost all Astley conveyancing firms would have been on most bank panels. The Financial Services Authority in 2010 conducted a thematic investigation into mortgage fraud which come to the conclusion: mortgage lenders should know the conveyancing solicitors dealt with. Consequently, mortgage companies are increasingly seeing more information from law firms relating to their operations and the individuals who work for them and establishing certain criteria such a completing on a minimum volume of transactions. Many Astley conveyancing firms that have been excluded from lender panels have a 100% healthy track record, no complaints and no claims and didn't just 'dabble' in conveyancing. Astley is one of the many locations where the solicitors showing on our search results are on the panel for HSBC Bank.
What is the difference between a licensed conveyancer and conveyancing solicitor in Astley
Two types of professional can execute conveyancing in Astley namely CLC regulated conveyancers or solicitors. The two can administer conveyancing services that required to complete the disposal or acquisition of property. They are both duty bound to carry out Astley conveyancing on similar quality and guidelines so you may be sure that your conveyancing will be professionally conducted and that all necessary steps should be suitably attended to.
Two weeks ago we had a mortgage agreed in principle with Skipton. Astley conveyancing practitioners were chosen. What is the average time that one could expect to receive a mortgage offer from Skipton?
There is no definitive answer here. Have Skipton completed the survey? Have you advised Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? Sometimes it can take as long as six weeks for a mortgage offer to be issued.
I recently had an offer accepted on a house in Astley. My financial adviser suggested a lawyer. I paid an on account payment of £200. Shortly after, the conveyancer contacted me to say that they were not on the RBS 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 RBS 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.
My wife and I are selling our house in Astley and the buyers lawyers are claiming that there is a possibility that the property was constructed land that was not decontaminated. Any high street Astley lawyer would know this is not the case. It does beg the question why the purchasers used a factory type conveyancing firm rather than a conveyancing solicitor in Astley. Having lived in Astley for six years we know that this is a non issue. Should we get in touch with our local Authority to get confirmation that there is no issue.
It would appear that you have a conveyancing solicitor already. What do they say? You must enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
I'm refinancing my current house to a buy to let mortgage with Bank of Ireland and intend to use the remaining equity as a down payment on a second house. The area we are interested in is Astley. Will your solicitors be able to act for the two lenders and tie in the transactions?
Do use our comparison tool on this page to ensure that the conveyancers are on the appropriate lender panels. Assuming that they are your conveyancer will be able to connect the two conveyancing matters but you should have a chat with you lawyer and communicate your desired outcome and requirements.
I am using a search engine for the term cheap conveyancing in Astley it reveals numerous conveyancersin the area. How do I determine which is the suitable conveyancing solicitor for purchase transaction?
The ideal way of choosing a suitable conveyancer is through a personal testimonial, so ask friends and family who have purchased a property in Astley or a local estate agent or financial adviser. Costs for conveyancing in Astley differ, so it's sensible to obtain at least three fee estimates from different solicitors. Be sure to seek confirmation what costs in the quote includes.
I am tempted by the attractive purchase price for a couple of apartments in Astley which have in the region of forty five years left on the leases. Do I need to be concerned?
There are no two ways about it. A leasehold flat in Astley is a wasting asset as a result of the reducing lease term. The closer the lease gets to zero years unexpired, the more it adversely affects the salability of the premises. The majority of purchasers and banks, leases with less than 75 years become less and less attractive. On a more positive note, leaseholders can extend their leases by serving a Section 42 Notice. One stipulation is that they must have owned the property for two years (unlike a Section 13 notice for purchasing the freehold, when leaseholders can participate from day one of ownership). When successful, they will have the right to an extension of 90 years to the current term and ground rent is effectively reduced to zero. Before moving forward with a purchase of a property with a short lease term remaining you should talk to a solicitor specialising in lease extensions and leasehold enfranchisement. We are are happy to put you in touch with Astley conveyancing experts who will explain the options available to you during an initial telephone conversation free of charge. More often than not it is possible to negotiate informally with the freeholder to extend the lease. They may agree to a smaller lump sum and an increase in the ground rent, but to shorter extension terms in return. You need to ensure that any new terms represent good long-term value compared with the standard benefits of the Section 42 Notice and that onerous clauses are not inserted into any redrafting of the lease.
Astley Conveyancing for Leasehold Flats - A selection of Queries Prior to buying
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Please inform me if there are any major works in the near future that could add a premium to the service fees? Generally speaking the cost for major works are not built into the service charges, although some managing agents in Astley ask leaseholders to pay into a sinking fund and this is used to offset against major works. This question is helpful as a) areas could cause problems in the building as the common areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have a dispute with the managing agents you will need to have full disclosure