I am nearing exchange of contracts for my ground floor flat in Handforth and the estate agent has just e-mailed to warn that the purchasers are appointing a new conveyancer. The reason given is that the lender will only work with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only deal with certain solicitors rather the firm that they want to select to handle their conveyancing in Handforth ?
Mortgage companies have always had panels of law firms that can act for them, but in recent years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for over 25 years.
Lending institutions blame a rise in fraud by way of justification for the cull – criteria have been narrowed as a smaller panel is easier to monitor. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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. The buyers are not going to have any sway in the decision.
I have given 2 months notice to my existing landlord and have to vacate my rented property in Handforth by the end of next month. Conveyancing for my house purchase has just started. Is it possible to complete in 5 weeks as don't want to have to find short term accommodation?
It is unwise to serve notice on a rental unless your lawyer suggests that you should. Assuming that you have not already done so, contact to your solicitor and request that they chase the sellers lawyers, try to an acceptable time-line that everyone will work to achieve
I am considering mortgaging my house in Handforth, does my lawyer have to be on the Skipton Conveyancing panel?
There is nothing to stop you using your solicitor, but Skipton 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.
A colleague recommended that if I am buying in Handforth I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is usually quoted for as part of the standard Handforth conveyancing searches. It is a large document of about 40 pages, listing and setting out significant information about Handforth around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the Handforth Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average House Prices, Crime details, Handforth Education with maps and statistics, Local Amenities and other useful information concerning Handforth.
About to purchase a new build flat in Handforth. Conveyancing is daunting 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 Handforth
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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Forfeiture - bankruptcy or liquidation must not apply under this provision. Please supply evidence that the form of Lease proposed has been approved by the Land Registry. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore.
I am attracted to a two apartments in Handforth both have about 50 years left on the lease term. Will this present a problem?
A lease is a legal document that entitles you to use the property for a period of time. As the lease gets shorter the marketability of the lease reduces and it becomes more costly to extend the lease. For this reason it is often a good idea to extend the lease term. More often than not it is difficulties arise selling premises with a short lease because mortgage lenders may be unwilling to lend money on properties of this type. Lease extension can be a protracted process. We advise that you get professional assistance from a conveyancer and surveyor with experience in this arena.
Handforth Leasehold Conveyancing - Sample of Queries before buying
Can you inform me if there are any major works on the horizon that could increase the maintenance fees? This question is useful as a) areas could cause problems for the block as the communal areas may start to deteriorate if services are not paid for b) if the leaseholders have an issue with the running of the building you will wish to know about it How long is the Lease?