I am one month into the sale of my ground floor flat in Henllys and the EA has just called to advise that the buyers are swapping law firm. The excuse is that the mortgage company will only deal with solicitors on their approved list. On what basis would a big named mortgage company only deal with certain solicitors rather the firm that they want to select for their conveyancing in Henllys ?
Mortgage companies have always had panels of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 25 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to disclose 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. Plenty of firms 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.
My god-son is about to exchange on a newly built flat in Henllys with a home loan from Nottingham. His lawyer has said that there is a delay in receiving the ‘Disclosure of Incentive Form’. This document is news to me - what is it and who needs sight of it?
The document is intended to provide information to the main parties engaged in the purchase. Therefore, it will be provided to your son’s lawyer who should be on the Nottingham conveyancing panel as a standard part of the process, and to the valuer when asked. The developer will be required to start the process by downloading the form and completing it. The form will therefore need to be available for the valuer at the time of his or her site visit. The form should be sent to the Nottingham conveyancing panel solicitor as early as possible, in order to avoid any last minute delays, and no later than at exchange of contracts.
Are there restrictive covenants that are commonly identified during conveyancing in Henllys?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Henllys. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Just had an offer accepted on a new build flat in Henllys. Conveyancing is daunting 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.
Set out below are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Henllys
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The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will the freehold then be transferred for a nominal consideration (not exceeding £100) to the Management Company? There must be mutual enforceability of lessee’s covenants. 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. Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified.
What tools are available to search for a Henllys law firm on the Barclays conveyancing panel? I have a car and am happy to travel upto 20kilometers to meet the conveyancer.
Feel free to make use of the facility on this website. Please select a lender and your location and you will see a number of Henllys conveyancing lawyers based on proximity. We have detailed some Henllys conveyancing firms at the bottom of this page and you can telephone them to see whether they are on the Barclays panel
I have recently realised that I have Fifty years remaining on my lease in Henllys. I now want to get lease extension but my landlord is absent. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be granted an extra 90 years by the magistrate. However, you will be required to demonstrate that you have done all that could be expected to track down the freeholder. For most situations an enquiry agent should be useful to carry out a search and prepare an expert document which can be used as evidence that the landlord can not be located. It is wise to seek advice from a property lawyer both on investigating the landlord’s absence and the vesting order request to the County Court covering Henllys.
Henllys Leasehold Conveyancing - A selection of Queries before buying
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The best form of lease arrangement is a share of the freehold. In this scenario the lessees enjoy being in charge if their destiny and even though a managing agent is usually employed if the building is larger than a house conversion, the managing agent acts for the leaseholders themselves. Please inform me if there are any major works in the near future that will likely add a premium to the service fees? In the main the cost for major works are not included within service charges, although there some managing agents in Henllys ask leaseholders to contribute towards a reserve fund and this is used to offset against major works.