My fiance and I are planning to buy a property in Consett and are in fact using a Consett conveyancing practice. Within the past 48 hours our solicitor has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. Halifax have this morning contacted us to advise us that they have now hit a problem as our Consett lawyer is not on their approved list of lawyers. Is this a problem?
Where you are buying a property requiring a mortgage it is normal for the purchasers' lawyers 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 Accreditation Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Consett solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Completed the sale of my flat in Consett last December but my buyer keeps whats apping me complaining that her conveyancer is waiting to hear from mine. What should my lawyer have done following completion?
Following your disposal your solicitor is obliged to send the transfer documentation and all of the paperwork to the purchaser's solicitors. If applicable, your lawyer must also send confirmation that the home loan has been redeemed to the purchasers solicitors. There are no post completion tasks just for conveyancing in Consett.
We wanted to use a conveyancing solicitor in Consett for our house move. Our broker has since advised us that our mortgage lenders Lloyds TSB Bank won't deal with them. Surely this is unduly restrictive?
A bank may require a panel conveyancer act for it. Borrowers are expected to bear the cost of this. Do use our tool to choose a solicitor to carry conveyancing in Consett on the Lloyds TSB Bank approved list of solicitors.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Consett. 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 conveyancing.
Set out below are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Consett
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Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose? The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Over the last few months I have been searching for a leasehold apartment up to £235,500 and identified one near me in Consett I like with amenity areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Consett in this price bracket, so just wondered if I would be making a grave error acquiring a short lease?
Should you require a mortgage the shortness of the lease will likely be an issue. Discount the price by the expected lease extension will cost if it has not already been discounted. If the existing proprietor has owned the premises for at least 2 years you may ask them to start the process of the extension and then assign it to you. An additional ninety years can be extended on to the current lease and have £0 ground rent by law. You should speak to your conveyancing solicitor regarding this.
A couple of weeks ago I was informed by my mortgage company that their panel lawyers operate no completion no charge basis for conveyancing in Consett. My purchase aborted nevertheless the conveyancers have invoiced for search fees! They say the fees are nothing to do with their fees!
in offering "no completion no fee" Consett conveyancing lawyers are foregoing their fees for any work carried out. We should point out that this does not constitute an insurance scheme. Disbursements aren’t covered – where the conveyancer have to pay money out to other people, e.g. Consett local search fees