My wife and I are hoping to acquire a flat in Falconwood and are in fact using a Falconwood conveyancing firm. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through with the expectation that exchange is imminent. HSBC Bank have this evening contacted us to advise us that they have now hit a problem as our Falconwood solicitor is not on their conveyancing panel. Please explain?
If you are buying a property requiring a mortgage it is usual for the purchasers' solicitors to also represent the mortgage company. 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 don't have to instruct a firm on the lender’s conveyancing panel as you are at liberty to use your preferred Falconwood lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
We note that you have a post code search directory identifying law firms on the RBS conveyancing panel. Do firms pay you a referral fee if I instruct them for our conveyancing in Falconwood?
We are a listing service only for law firms wishing to communicate if they are on the RBS conveyancing panel or other lender panels. We do not charge referral fees to any conveyancer that you subsequently appoint for your conveyancing in Falconwood.
I am buying a property and need a conveyancing solicitor in Falconwood who is on the Santander solicitor. Can you recommend a local solicitor?
Our service is limited to being a directory service for firms who wish to listed as being on the approved conveyancing panel for Santander in certain locations such as Falconwood. We dont recommend any particular firm.
A colleague recommended that if I am purchasing in Falconwood I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
A search of this type is sometimes quoted for as part of the standard Falconwood conveyancing searches. It is a large report of about 40 pages, listing and detailing significant information about Falconwood around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Falconwood Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime statistics, Local Education with maps and statistics, Local Amenities and other useful data concerning Falconwood.
Are there restrictive covenants that are commonly picked up during conveyancing in Falconwood?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Falconwood. 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…’
Over the last few months I have been searching for a leasehold apartment up to £305k and found one near me in Falconwood I like with amenity areas and railway links in the vicinity, however it's only got 52 years on the lease. There is not much else in Falconwood for this price, so just wondered if I would be making a grave error acquiring a lease with such few years left?
If you need a mortgage the remaining unexpired lease term will be an issue. Reduce the price by the amount the lease extension will cost if not already taken into account. If the existing owner has owned the property for at least 2 years you can request that they commence the lease extension formalities and pass it to you. You can add 90 years to the existing lease term and have £0 ground rent by law. You should consult your conveyancing lawyer about this.