My partner and I are looking to purchase a flat in Forest Row and have instructed a Forest Row conveyancing practice. Within the past 48 hours our conveyancer has sent a preliminary report and documents to look through in anticipation of exchanging contracts shortly. Chelsea Building Society have this evening contacted us to inform me that there is now an issue as our Forest Row solicitor is not on their approved list of lawyers. What do we do from here?
When purchasing a property with mortgage finance it is standard 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 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 lawyers to represent them. You don't have to instruct a firm on the bank's conveyancing panel and you may continue to use your own Forest Row solicitors, in which case your legal fees may increase, and it may delay matters as you are adding another lawyer into the mix.
I am considering applying for a Virgin Money mortgage for purchase of a newly converted (under development) in Forest Row with 70% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Virgin Money ?
In theory, you could use a solicitor that is not on the Virgin Money conveyancing panel, but Virgin Money would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
We are intent on selling our home in Forest Row and according to the buyers it appears that there is a possibility that the property was constructed land that was not decontaminated. Any high street Forest Row conveyancer would know that there is no such problem. It does beg the question why the buyers instructed a web based conveyancing outfit as opposed to a conveyancing solicitor in Forest Row. We have lived in Forest Row for 5 years we know of no issue. Is it a good idea to get in touch with our local Authority to obtain confirmation need.
It would appear that you have a conveyancing firm already. What do they say? You must enquire of 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 health insurance to cover that same sickness)
About to purchase a new build apartment in Forest Row. Conveyancing is a frightening process 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 legal work.
Here are examples of a selection of leasehold new build questions that you should expect your new-build leasehold conveyancing in Forest Row
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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. There must be mutual enforceability of lessee’s covenants. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal.
Due to the encouragement of my in-laws I had a survey completed on a house in Forest Row ahead of instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders tend refuse to grant a loan on this type of premises.
It varies from the lender to lender. Lloyds has different instructions from Nationwide. Should you wish to call us we can look into this further with the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Forest Row. Conveyancing may be slightly more expensive based on your lender's requirements.
My brother has suggested that I appoint his conveyancing solicitors in Forest Row. Do I take his advice?
No doubt it’s preferable to select a conveyancing practitioner is to get feedback from friends or relatives who have used the solicitor that you are contemplating using.