My wife and I are looking to acquire a flat in Coven and have appointed a Coven conveyancing practice. Within the last couple of days our property lawyer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. Leeds Building Society have this afternoon contacted us to inform me that there is now an issue as our Coven conveyancer is not on their approved list of lawyers. Please explain?
When purchasing a property with the benefit of a mortgage it is standard 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 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 and you may continue to use your own Coven solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
We are about to sign contracts for a semi detached house in Coven. We have hit a stumbling block. Our loan offer with Skipton Building Society expires on 4/3/2026 but the sellers are suggesting a completion date of 6/3/2026. Is it possible to extend the mortgage offer?
The best person to deal with your question is your conveyancer who should determine whether he or she is should be discussing with the mortgage company, owner’s lawyers, property agents or conceivably all three given what has happend in your house move to date.
I require expedited conveyancing in Coven as I have an ultimatum to complete within 2 weeks. Luckily I do not need a mortgage. Is it possible to avoid the conveyancing searches to save money and time?
As you are are a cash buyer you have the choice not to have searches conducted although no solicitor would recommend that you don't. With plenty of history conveyancing in Coven the following are examples of what can crop up and therefore impact market value: Refused Planning Applications, Outstanding Charges, Overdue Grants, Road Schemes,...
Due to the advice of my in-laws I had a survey completed on a house in Coven prior to retaining solicitors. I have been advised that there is a flying freehold aspect to the property. Our surveyor advised that some lenders may refuse to grant a mortgage on this type of property.
It depends who your proposed lender is. Santander has different instructions from Nationwide. If you contact us we can check via the relevant lender. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Coven. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Coven to see if the conveyancing will be more expensive.
I am thinking of appointing a conveyancing practitioner in Coven for my purchase. Can I review a firm’s complaints history with the profession’s regulator?
Members of the public may read documented Solicitor Regulator Association (SRA) decisions resulting from investigations commenced on or after Jan 2008. Visit Check a solicitor's record. To find records about the period before 1 January 2008, or to check a solicitors record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. For callers outside the UK, dial +44 (0)121 329 6800. The SRA could recorded call for training reasons.
I am attracted to a couple of flats in Coven both have in the region of forty five years remaining on the leases. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease deteriorates and it becomes more expensive to extend the lease. For this reason it is advisable to extend the lease term. Sometimes it is difficult to sell a property with a short lease because mortgage companies may be unwilling to lend money on properties of this type. Lease enfranchisement can be a protracted process. We advise that you get professional help from a conveyancer and surveyor with experience in this arena.
Coven Conveyancing for Leasehold Flats - Examples of Questions you should consider before buying
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It is important to be aware if changing the roof or some other significant cost is due in the foreseeable future that will be shared by the leaseholders and will materially increase the the service fees or require a specific payment. The best form of lease structure is a share of the freehold. In this situation the tenants enjoy being in charge if their destiny and although a managing agent is often employed if it is larger than a house conversion, the managing agent is directed by the tenants. Make sure you investigate if there are any onerous prohibitions in the lease. For instance some leases prohibit pets being permitted in in a block in Coven. If you like the flatin Coven yet your cat is not allowed to live with you then you will be presented with a difficult decision.