My husband and I are looking to purchase a house in Hassocks and have instructed a Hassocks conveyancing firm. Within the past 48 hours our lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. The Royal Bank of Scotland have this morning contacted us to advise us that they have now hit a problem as our Hassocks lawyer is not on their approved list of lawyers. What do we do from here?
When purchasing a property with the benefit of a mortgage it is normal for the purchasers' lawyers to also represent 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 property lawyer 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 solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred Hassocks lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another lawyer into the mix.
My fiance and I intend to purchase a newbuild flat in Hassocks with a mortgage from Halifax.We have a Hassocks conveyancing solicitor but Halifax informed us her practice is not listed on their "panel". we are left little option but to use a Halifax panel solicitor or retain our high street solicitor and pay for a Halifax panel lawyer to act for them. We feel as though this is unjust; Can we not simply insist that Halifax use our lawyer?
Unfortunately,no. The loan issued to you contains terms and conditions, one of which will be that lawyers needs to be on the Halifax approved list. in the past, most lenders had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. Another option that might be available is for your solicitors to apply to be on the conveyancing panel for Halifax
What is the difference between a licensed conveyancer and conveyancing solicitor in Hassocks
There are two types of lawyers who can perform conveyancing in Hassocks namely licenced conveyancers or solicitors. The two can handle the legal services that required to complete the disposal or purchase of property. Both are required to carry out Hassocks conveyancing to the same standards and guidelines so you may be safe in the knowledge that your conveyancing will be properly carried out and that the necessary procedures will be correctly taken.
A friend pointed out to me me that in purchasing a property in Hassocks there may be a number of restrictions limiting what one can do in terms of external alterations to a property. Is this right?
There are anumerous of properties in Hassocks which have some sort of restriction or requirement of consent to execute external changes. Part of the conveyancing in Hassocks should determine what restrictions are applicable and advising you as part of a ROT that should be sent to you.
Can I be sure that the Hassocks conveyancing solicitor on the Leeds Building Society panel is any good?
When it comes to conveyancing in Hassocks seeking recommendations is a sensible starting point. Before you go ahead, check if they offer a no sale no fee offer. Also, you often get what you pay for - a firm which quotes more, will often provide a better service than one advertising the lowest fees. We would always recommend that you speak with the lawyer handling your transaction.
Taking into account that I am about to spend £400,000 on a property in Hassocks I would like to have a conversation with the conveyancer about mytransaction before appointing the firm. Is this something that you can arrange?
This is something that we encourage - we would be delighted to talk to you we do not take any clients on without you first talking to the lawyer due to be doing your conveyancing in Hassocks.There is no ‘factory style conveyancing’ - each client is unique individual, not a file reference. The law firms that we put you in touch with believe that the fees you are provided with for residential conveyancing in Hassocks should be the amount on the final invoice that you end up paying.
As co-executor for the estate of my father I am disposing of a house in Cardiff but reside in Hassocks. My lawyer (approximately 300 miles from mehas requested that I execute a statutory declaration prior to completion. Could you suggest a conveyancing practitioner in Hassocks to attest this legal document for me?
strictly speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Ordinarily or notary public or qualified solicitor will suffice regardless of whether they are Hassocks based
Are there common deficiencies that you witness in leases for Hassocks properties?
There is nothing unique about leasehold conveyancing in Hassocks. Most leases are individual and drafting errors can sometimes mean that certain sections are missing. The following missing provisions could result in a defective lease:
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Service charge per centages that don't add up correctly leaving a shortfall A provision for the recovery of money spent for the benefit of another party.
You will encounter difficulties when selling your property if you have a defective lease as they can affect a potential buyer’s ability to obtain a mortgage. Accord Mortgages Ltd, Coventry Building Society, and Bank of Ireland all have very detailed requirements when it comes to what is expected in a lease. Where a lender has been advised by their lawyers that the lease does not cover certain provisions they may refuse to provide security, forcing the purchaser to withdraw.
Leasehold Conveyancing in Hassocks - A selection of Questions you should ask Prior to Purchasing
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Where a Hassocks lease has less than 80 years it will affect the value of the apartment. It is worth checking with your lender that they are happy with residual term of the lease. Leases with fewer than 80 years remaining means that you will almost definitely have to extend the lease sooner rather than later and you need to have some idea of what this will be. For most Hassockslease extensions you will be required to have been the owner of the property for 24 months before you are entitled to extend the lease. How much is the ground rent and service charge? How is the lease structured?