My husband and I are hoping to acquire a home in Canford Heath and are in fact using a Canford Heath conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. TSB have this morning contacted us to inform me that there is now an issue as our Canford Heath lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is conventional for the purchasers' solicitors to also act for the purchaser's lender. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You don't have to instruct a firm on the bank's conveyancing panel as you are at liberty to use your preferred Canford Heath lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Our grandson is about to exchange on a new build apartment in Canford Heath with a mortgage from Barclays. His conveyancer has advised him of a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Barclays conveyancing panel as a standard part of the process, and to the surveyor when requested. 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 Barclays conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
As someone clueless as to conveyancing in Canford Heath what is the number one tip you can impart concerning the ownership transfer in Canford Heath
Not many law firms shout this from the rooftops but conveyancing in Canford Heath and elsewhere in Dorset is an adversarial experience. In other words, when it comes to conveyancing there exists an abundance of room for confrontation between you and other parties involved in the transaction. E.g., the vendor, estate agent and sometimes a mortgage company. Appointing a lawyer for your conveyancing in Canford Heath is a critical decision as your conveyancer is your adviser, and is the SOLE person in the transaction whose role it is to act in your legal interests and to protect you.
There is a definite creep of a "blame" culture- someone must be blamed for the process being so protracted. We recommend that you your first instinct should be to trust your conveyancer above all other players when it comes to the legal assignment of property.
Does a directory service exist listing Santander panel solicitors in Canford Heath on the UK Finance Lenders’ Handbook Website?
No. There is no such facility on the Council of Mortgage Lenders or Building Society Association websites. A small selection of banks make their panel listings visible over the internet. Where you are looking for a Canford Heath lawyer on the Santander please use our tool.
After much negotiation I have agreed a price on an apartment in Canford Heath. My mortgage broker recommended their conveyancers. I paid an upfront payment of £225. A couple of days later, the solicitor contacted me to say that they were not on the Co-operative 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 Co-operative 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.
Intending to buy a flat in Canford Heath. I have received an online quote from a licenced conveyancer, which states: "There will be no charge for dealing with the Building Society if you are obtaining a mortgage". I take this to mean that there will be no additional fee if the solicitor is on the Kent Reliance conveyancing panel. I wanted to make sure it means there will be no additional fees for dealing with the mortgage.
They are simply saying that the cost for acting for the lender is included in the fee being quoted. It is worth you checking that the Canford Heath solicitor is on the Kent Reliance conveyancing panel.
Should I be suspicious about third parties that I am dealing with are encouraging me to use a national conveyancing firm rather than a High Street Canford Heath conveyancing company?
As is the case with lots of service providers, often input from connections can be most helpful. Yet there are numerous players in a conveyancing transaction; estate agents, financial adviser and banks might all put forward conveyancers to choose. Sometimes these lawyers might be known to one of the organisations as one of the best in their field, but occasionally there behind the scenes financial incentive behind the recommendation. You have the right to select your preferred lawyer. However, bear in mind that some lenders specify a panel list of lawyers you are obliged to use for the lender aspect of your conveyancing.
Can you provide any top tips for leasehold conveyancing in Canford Heath with the aim of expediting the sale process?
- A significant proportion of the delay in leasehold conveyancing in Canford Heath can be bypassed if you get in touch lawyers as soon as you market your property and request that they start to put together the leasehold documentation needed by the purchasers’ representatives. If you have carried out any alterations to the premises would they have required Landlord’s consent? Have you, for example laid down wooden flooring? Most leases in Canford Heath state that internal structural alterations or laying down wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Where you dont have the consents to hand do not communicate with the landlord without checking with your lawyer before hand. You may think that you are aware of the number of years left on your lease but you should verify this via your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is below 75 years. It is therefore important at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your property on the market for sale. If you have the benefit of shareholding in the Management Company, you should make sure that you are holding the original share document. Organising a re-issued share certificate can be a time consuming formality and slows down many a Canford Heath conveyancing deal. Where a reissued share is required, you should approach the company director and secretary or managing agents (if applicable) for this sooner rather than later.
I am the registered owner of a 1st floor flat in Canford Heath, conveyancing formalities finalised in 2011. Can you let me have an estimate of the premium that my landlord can legally expect in return for granting a renewal of my lease? Comparable flats in Canford Heath with an extended lease are worth £180,000. The average or mid-range amount of ground rent is £65 per annum. The lease expires on 21st October 2084
With 59 years left to run we estimate the premium for your lease extension to span between £20,900 and £24,200 as well as legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you the actual costs without more comprehensive investigations. Do not use this information in tribunal or court proceedings. There may be other issues that need to be taken into account and you obviously should be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.