My husband and I are buying a 3 bedroom flat in Canford Cliffs with a mortgage. We wish to retain our Canford Cliffs solicitor, but the mortgage company says he's not on their "panel". We have to appoint one of the mortgage company panel firms or continue with our Canford Cliffs lawyer and pay for one of their panel firms to act for them. This seems very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your Canford Cliffs conveyancing solicitor to apply to be on the conveyancing panel.
My nephew is in the process of securing a house that has just been built in Canford Cliffs with a mortgage from Nationwide. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. Who needs to receive the form?
The form is intended to provide information to the main parties involved in the transaction. Therefore, it will be provided to your son’s lawyer who should be on the Nationwide conveyancing panel as a standard part of the process, and to the surveyor when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nationwide conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Is there a reason why leasehold purchase conveyancing in Canford Cliffs costs more?
Canford Cliffs leasehold conveyancing transactions usually involve additional investigations than freeholds including investigating the Lease, liaising with the Landlord such as serving applicable notices on the Landlord or managing agent, obtaining up-to-date service charge and management information, obtaining Landlord’s consents and reviewing management accounts and formation documents.
We are expecting a mortgage offer soon. The bank mentioned the mortgage came with free conveyancing. Is the implication that I have to use their panel lawyer as I would prefer to appoint a high street conveyancing solicitor in Canford Cliffs?
You should check but the the probability is that appoint one of their panel solicitors where you take up the "fee-free" offer. Contact the bank and explore if they offer you a monetary alternative. Some banks have previously offered a £250 cashback as an alternative in which case that money can go towards the cost for your conveyancing solicitor near Canford Cliffs.
I have been sourcing a conveyancing lawyer in Canford Cliffs for my house move. Can I review a firm’s complaints history with the profession’s regulator?
Anyone can find presented Solicitor Regulator Association (SRA) determinations stemming from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's history, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, use +44 (0)121 329 6800. The SRA may monitor call for training requirements.
Do you have any advice for leasehold conveyancing in Canford Cliffs with the aim of expediting the sale process?
- Much of the delay in leasehold conveyancing in Canford Cliffs can be reduced where you appoint lawyers the minute you market your property and ask them to put together the leasehold documentation which will be required by the buyers’ representatives. The majority of landlords or managing agents in Canford Cliffs levy fees for providing management packs for a leasehold property. You or your lawyers should discover the actual amount of the charges. The management information can be applied for as soon as you have a buyer, thus accelerating the process. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Canford Cliffs. Some Canford Cliffs leases require Licence to Assign from the landlord. If this applies to your lease, you should place the estate agents on notice to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the buyers or their lawyers. If you hold a share in a the Management Company, you should make sure that you are holding the original share certificate. Organising a re-issued share certificate can be a time consuming formality and slows down many a Canford Cliffs home move. Where a duplicate share is necessary, do contact the company officers or managing agents (if relevant) for this as soon as possible. You may think that you are aware of the number of years remaining on your lease but it would be wise to double-check via your solicitors. A purchaser's conveyancer will not be happy to advise their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. In the circumstances it is essential at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your premises on the market for sale.
Canford Cliffs Conveyancing for Leasehold Flats - Sample of Questions you should consider before Purchasing
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How many of the leaseholders are in arrears for their service charge payments? Where a Canford Cliffs lease has fewer than eighty years it will have adverse implications on the salability of the property. It is worth checking with your bank that they are happy with the length of the lease. Leases with less than 80 years remaining means that you will most likely require a lease extension sooner rather than later and it is worth finding out how much this will be. Remember, in most cases you will be required to have owned the residence for two years in order to be entitled to exercise a lease extension. How much is the ground rent and service charge?