I am progressing with the sale of my maisonette in Halewood and the EA has just e-mailed to warn that the purchasers are switching law firm. I am told that this is due to the fact that the lender will only deal with solicitors on their conveyancing panel. On what basis would a leading lender only deal with certain solicitors rather the firm that they want to select for their conveyancing in Halewood ?
Banks have always had panels of law firms they are content to work with, but in the last few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Lenders blame a rise in fraud as the reason for the cull – criteria have been stiffened as a smaller panel is easier to oversee. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is being contacted daily by practices that have been removed from panels. Some are unaware that they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. Your purchasers are not going to have any impact on this.
I am purchasing a house for cash in Halewood. I have been residing for the previous 20 years in Halewood. Conveyancing searches are exorbitant. Given that I have knowledge of the area and road very well must I have all the conveyancing searches?
If you not getting a home loan, then the vast majority of the Halewood conveyancing searches are at your discretion. Your conveyancer will ’encourage you, no-doubt strongly, that you should have searches done, but he has a professional duty to take that path of advice. One thing to bear in mind; if you are intend to dispose of the house at a future date, it will be of interest to your prospective buyer what the searches contain. Sometimes houses with functional issues can still show up unfavourable search results. A competent conveyancing solicitor in Halewood will be able to give you some practical advice here.
I am considering applying for a Kent Reliance mortgage for purchase of a newly converted (under development) in Halewood with 60% LTV. Is it compulsory to choose a solicitor on the conveyancing panel for Kent Reliance ?
There is nothing to stop you using your solicitor, but Kent Reliance will insist on their interests being represented by a firm on their conveyancing panel. There is much more potential for delays and confusion with two solicitors involved, and it will undoubtedly be more expensive too.
I have been told that property searches are the primary reason for hinderance in Halewood conveyancing transactions. Is that correct?
The Council of Property Search Organisations (CoPSO) released conclusions of research by MoveWithUs that conveyancing searches do not figure amongst the common causes of delays during the legal transfer of property. Local searches are unlikely to feature in any delay in conveyancing in Halewood.
The estate agent has sent us the confirmation of our purchase of a new build apartment in Halewood. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a few leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Halewood
Where there is an Undertaking being granted there is the risk of forfeiture of the Headlease subject to relief if one or more of the Underlessees are willing to accept the original Head Lessee’s obligations as otherwise relief will be denied to the Underlessees. The only alternatives are the Head Lessor agreeing not to forfeit the Headlease or the Head Lessee guaranteeing to the Underlessees that it will not be in breach of the Headlease. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? 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. Has the Lease plan been approved by the Land Registry and if not when will they be lodged for this purpose?
I've recently found out that there is a flying freehold issue on a house I put an offer in two weeks back in what should have been a quick, chain free conveyancing. Halewood is where the house is located. Can you shed any light on this issue?
Flying freeholds in Halewood are rare but are more likely to exist in relation to terraced houses. Even where you use a solicitor outside Halewood you must be sure that your lawyer goes through the deeds diligently. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Halewood may decide that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold premises.