I am in the process of selling my ground floor flat in Belmont and the estate agent has just called to advise that the purchasers are switching conveyancer. I am told that this is due to the fact that the lender will only deal with solicitors on their conveyancing panel. Why would a big named lender only work with specific solicitors rather the firm that they want to choose to handle their conveyancing in Belmont ?
Mortgage companies have always had panels of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for more than 25 years.
Banks point to the increase in fraud by way of justification for the reduction – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Plenty of firms 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 buyers are not going to have any impact on this.
The Belmont conveyancing lawyers that I appointed last week on my purchase in Belmont have suddenly closed. They were on acting for me because I needed a firm on the Barclays conveyancing panel and my previous Belmont lawyer was not. I paid them money in advance. What are my options?
Assuming that you have an Estate Agent in the equation then inform them straight away so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Barclays conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new solicitors may be able to assist.
My aunt advised me that in purchasing a property in Belmont there may be various restrictions limiting what one can do in terms of external alterations to a property. Is this right?
We are aware of a number of properties in Belmont which have some sort of restriction or requirement of consent to carry out external variations. Part of the conveyancing in Belmont should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
I am purchasing a property in Belmont. An unusual aspect is that the roof has a solar panel. Solicitors conducting should look into this right? Will my lender Lloyds be concerned?
Given that your lender is Lloyds your lawyer must check the conveyancing requirements contained in Part 2 of UK Finance Lenders’ Handbook for Lloyds. The Council of Mortgage Lenders’ Handbook stipulates minimum provisions for solar panel roof-space leases, and property lawyers are required to report to Lloyds where a lease fails to meet these conditions. The conditions relate to the installation of panels on properties in England and Wales and is not isolated to Belmont.
I have decided to exercise my right to buy my property in Belmont off the council. I have a mortgage agreed with Skipton. Conveyancing is not something I have any knowledge of. Can I proceed without a solicitor easily? I think we can but we keep being told I should have one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Skipton, you will need to appoint a solicitor on the Skipton conveyancing panel.
Are there restrictive covenants that are commonly picked up during conveyancing in Belmont?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the legal transfer of property in Belmont. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
I need to find a conveyancing solicitor for my conveyancing in Belmont. I've stumble across a site which seems to have the ideal answer If there is a chance to get all this stuff done via email that would be ideal. Should I be concerned? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Having had my offer accepted I require leasehold conveyancing in Belmont. Before diving in I require certainty as to the remaining lease term.
Assuming the lease is recorded at the land registry - and most are in Belmont - then the leasehold title will always include the short particulars of the lease, namely the date; the term; and the original parties. From a conveyancing perspective such details then enable any prospective buyer and lender to confirm that any lease they are looking at is the one relevant to that title. For any other purpose, such as confirming how long the term was granted for and calculating what is left, then the register should be sufficient on it's own.
I am the registered owner of a first floor flat in Belmont. In the absence of agreement between myself and the landlord, can the Leasehold valuation Tribunal determine the sum due for a lease extension?
Absolutely. We can put you in touch with a Belmont conveyancing firm who can help.
An example of a Lease Extension decision for a Belmont residence is 197 Byron Road in March 2013. In relation to the value of the extended lease the tribunal concluded that the appropriate premium should be £19237 This case affected 1 flat. The remaining number of years on the lease was 70.92 years.