I am selling my maisonette in Flint Mountain and the EA has just text me to say that the purchasers are swapping conveyancer. The excuse is that the lender will only deal with property lawyers on their approved list. On what basis would a big named mortgage company only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Flint Mountain ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the last few years big names such as Santander, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Mortgage companies blame a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are not going to have any sway in the decision.
When scouring mumsnet.com for a recommended solicitor in Flint Mountain, many comment that I must instruct a CQS assured solicitor. Can you explain what CQS is?
The Law Society's Conveyancing Quality Scheme is the recognised quality mark for legal experts in the legal transfer of properties, trusted by some of the UK's major banks. In 2011-12 the Conveyancing Quality Scheme was officially recognised by the Council of Mortgage Lenders (CML). The scheme does not cover licenced conveyancers. Flint Mountain is one of the many areas in England and Wales where there are Accredited solicitors.
Are there restrictive covenants that are commonly picked up as part of conveyancing in Flint Mountain?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Flint Mountain. 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 easy is it to swap conveyancer as I have to choose one who is on the Norwich and Peterborough Building Society conveyancing panel. I was using a family conveyancing solicitor in Flint Mountain five minutes from me but she is not accepted by Norwich and Peterborough Building Society
We will our best to assist in finding you a conveyancing solicitor in Flint Mountain on the Norwich and Peterborough Building Society panel. Please note that the solicitors that we list do not pay us commission if you instruct them and are fully regulated by the Solicitors Regulation Authority who oversee all conveyancing solicitors in Flint Mountain. In making use of the find a conveyancing solicitor tool on this page, you can compare charges for conveyancing solicitors in Flint Mountain and throughout England and Wales.
What makes a Flint Mountain lease unacceptable for security purposes?
There is nothing unique about leasehold conveyancing in Flint Mountain. All leases are drafted differently and drafting errors can sometimes mean that certain clauses are not included. The following missing provisions could result in a defective lease:
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Insurance obligations Service charge per centages that don't add up correctly leaving a shortfall
A defective lease can cause issues when trying to sell a property primarily because it impacts on the ability to obtain a mortgage on the property. National Westminster Bank, The Mortgage Works, and Platform Home Loans Ltd all have very detailed requirements when it comes to what is expected in a lease. If a mortgage lender believes that the lease is problematic they may refuse to provide security, obliging the buyer to withdraw.
I purchased a 1st floor flat in Flint Mountain, conveyancing having been completed 6 years ago. 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? Equivalent properties in Flint Mountain with over 90 years remaining are worth £197,000. The ground rent is £55 invoiced every year. The lease finishes on 21st October 2080
You have 55 years left to run we estimate the price of your lease extension to be between £31,400 and £36,200 plus legals.
The suggested premium range that we have given is a general guide to costs for extending a lease, but we cannot give you a more accurate figure in the absence of comprehensive due diligence. You should not use this information in a Notice of Claim or as an informal offer. There are no doubt other concerns that need to be taken into account and you obviously want to be as accurate as possible in your negotiations. You should not move forward based on this information before getting professional advice.
Is there a reason that Flint Mountain conveyancing fees are higher for leasehold and freehold properties?
If purchasing a leasehold property there is more work involved purely due to the fact that usually there are further parties involved in the form of the freeholder and/or Management Agents. As part of a lawyers enquiries they will check that all ground rent and service charges are paid up to date amongst other general leasehold matters. For this reason, the Sellers lawyers usually have to refer to the freeholder or Managing Agent for their replies to our questions. This may be time consuming and beyond the lawyers control