My wife and I are hoping to buy a property in Forestdale and are in fact using a Forestdale conveyancing firm. 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. Alliance & Leicester have this afternoon contacted us to inform me that there is now an issue as our Forestdale solicitor is not on their approved list of lawyers. What do we do from here?
Where you are buying a property with the assistance of a mortgage it is normal for the purchasers' solicitors 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 Quality Scheme. Your solicitor 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 are not legally obliged to appoint a law firm on the bank's conveyancing panel and you may continue to use your own Forestdale solicitors, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
The owners have rather pushy sellers who has suggested a lock out contract with a payment two thousand pounds. Are such arrangements generally advanced for Forestdale conveyancing transactions?
There are a couple of primary downsides with signing a lock out agreement (occasionally termed a no-shop agreement) is that it diverts attention away from progressing with the conveyancing process, so unless it requires minimal or no negotiation then it could turn out to be a hindrance. It is not particularly popular amongst Forestdale conveyancing lawyers for this reason. The other main concern is the extent of the remedies available - an aggrieved purchaser should not expect to obtain injunctive relief to bar the seller selling to another buyer, so the only remedy available under the contract will be the reimbursement of wasted charges and, in rare scenarios, the extra payment of damages.
Having spent time researching moneysavingexpert.com for a conveyancing lawyer in Forestdale, most post that I must look for a CQS accredited lawyer. Can you explain what CQS is?
The Conveyancing Quality Scheme (CQS) provides a kitemark for residential conveyancing practices issued by the Law Society. Membership achievement establishes a level of credibility for member firms with stakeholders (regulators, lenders, insurers and consumers) based upon: * the integrity of the senior responsible officer and other key conveyancing staff * the firm's adherence to good practice management standards * adherence to best practice conveyancing processes via the scheme protocol It includes many firms who perform conveyancing in Forestdale.
Me and my partner are purchasing a house in Forestdale. I might seem paranoid but how we can trust a solicitor? At some point we will need to deposit our life savings into their account. What protection do 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.
I am due to exchange contracts on my house. I had a double glazing fitted in October 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s lender, Aldermore are being difficult. The Forestdale solicitor who is on the Aldermore conveyancing panel is saying indemnity insurance will be fine but Aldermore are insisting on a building regulation certificate. Why do Aldermore have a conveyancing panel if they don't accept advice from them?
It is probably the case that Aldermore have referred the matter to their valuer. The reason why Aldermore may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
Having digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Forestdale solicitor - who is on the Aldermore conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?
Aldermore will need an independent valuation of the property. Your lawyer will not arrange this. Usually Aldermore will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your lawyer will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Forestdale postcode. As you are getting a mortgage with Aldermore, you could contact them to see if they have a list of approved surveyors in Forestdale.
I decided to have a survey done on a property in Forestdale before retaining conveyancers. I have been told that there is a flying freehold overhang to the house. My surveyor has said that some lenders may not issue a mortgage on a flying freehold home.
It depends who your proposed lender is. Santander has different instructions for example to Nationwide. Should you wish to call us we can check with the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Forestdale. Conveyancing will be smoother if you use a solicitor in Forestdale especially if they regularly deal with such properties in Forestdale.
Looking forward to exchange soon on a studio apartment in Forestdale. Conveyancing lawyers have said that they report fully within the next couple of days. Are there areas in the report that I should be focusing on?
The report on title for your leasehold conveyancing in Forestdale should include some of the following:
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What you can do if an adjoining owner breaches a clause of their lease? Advice as to the provision in the lease to pay service charges - in respect of the block, and the more general rights a lessee enjoys Does the lease prevent you from letting out the flat, or working from home Defining your legal entitlements in relation to common areas in the building.For example, does the lease permit a right of way over an accessway or staircase? Your lawyers should enable you to have an understanding of the building insurance requirements
I am the leaseholder of a ground-floor 1960’s flat in Forestdale. Given that I can not reach agreement with the freeholder, can the Leasehold valuation Tribunal determine the sum payable for the purchase of the freehold?
You certainly can. We are happy to put you in touch with a Forestdale conveyancing firm who can help.
An example of a Freehold Enfranchisement decision for a Forestdale property is The Woodlands 95 Purley Park Road in April 2009. The Tribunals own valuation produced the figure of £37,912. This case affected 6 flats. The unexpired term was 78.32 years.