It has come to my attention via my financial adviser that my East Coker the law firm I have appointed is not on the bank Solicitor panel. What can I do to check?
Your first step should be to contact your East Coker conveyancer. It is reasonable to expect your lawyer to advise you what has happened. If they are not on the panel they may be able to suggest a East Coker conveyancing firm that is on the conveyancing panel for your lender.
Me and my partner are purchasing a apartment in East Coker. It might be a silly question but how we can trust a solicitor? On the day of competition we have to deposit funds into their account. What is the protection we have from them run away with our deposit?
Be assured that all money in a Solicitors client account is 100% safe, and even if your Solicitor ran off with it, the Law Society would reimburse you fully.
Last month we had a mortgage agreed in principle with Skipton. East Coker conveyancing solicitors have been instructed. How long does it take for Skipton to issue the offer to the conveyancing practitioner?
There is no definitive answer here. Have Skipton done the survey? Have you advised Skipton as to your lawyers' details and checked that your lawyers are on the Skipton conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have a mortgage with Skipton for my property in East Coker. Conveyancing was finalised 12 months ago. If I am intending to rent out my property and do not currently have a buy-to-let mortgage do I need to remortgage to a BTL mortgage or inform Skipton?
Skipton must be informed of your intention before letting out your property as this is likely to be a breach of Skipton’s mortgage conditions. In many cases banks or building societies will permit you to let out your former home without needing to switch to a buy-to-let mortgage but some lenders will add a surcharge to your mortgage rate to reflect the higher risk. You should contact Skipton directly. It should not be necessary to do this via a Skipton conveyancing panel solicitor.
I am planning on selling our property in East Coker and the buyers lawyers are claiming that there is a risk of it being built on contaminated land. A local lawyer would know that there is no such problem. It does beg the question why the buyers used a nationwide conveyancing firm as opposed to a conveyancing solicitor in East Coker. Having lived in East Coker for 4 years we know of no issue. Should we get in touch with our local Authority to seek confirmation that the buyers are looking for.
It sounds as though you may have a conveyancing firm already. Are they able to advise? You must check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same illness)
Are there restrictive covenants that are commonly picked up during conveyancing in East Coker?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in East Coker. 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…’
How does conveyancing in East Coker differ for new build properties?
Most buyers of new build premises in East Coker come to us having been asked by the developer to sign contracts and commit to the purchase even before the premises is built. This is because developers in East Coker typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in East Coker or who has acted in the same development.
Last June I purchased a leasehold flat in East Coker. Do I have any liability for service charges for periods before completion of my purchase?
In a situation where the service charge has already been demanded from the previous owner and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to be sure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
East Coker Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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The prefered form of lease structure is if the freehold title is owned by the leaseholders. In this arrangement the leaseholders benefit from control and notwithstanding that a managing agent is frequently retained if it is larger than a house conversion, the managing agent is directed by the tenants. For many East Coker leaseholds the cost for major works are not included within maintenance charges, although there some managing agents in East Coker require leaseholders to contribute towards a reserve fund and this is used to offset against larger repairs or maintenance. Best to be warned whether a new roof is being installed or some other significant cost is coming up to be shared between the leasehold owners and may well materially increase the the maintenance costs or necessitate a one time payment.