I am one month into the sale of my ground floor flat in Heysham and the EA has just e-mailed to warn that the buyers are switching solicitor. The reason given is that the lender will only engage with solicitors on their approved list. Why would a big named lender only work with certain law firms rather the firm that they want to choose to handle their conveyancing in Heysham ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Banks blame a rise in fraud as the reason for the pruning – criteria have been narrowed as a smaller panel is easier to maintain. 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 being contacted daily by practices 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. Your buyers are unlikely to have any sway in the decision.
The owners of the home we are purchasing have appointed a conveyancing solicitor in Heysham who has suggested a exclusivity agreement with a down payment of 5k. Is it wise to enter into such agreements?
This type of contract isn't frequently used in Heysham, conveyancers are often inclined to direct clients away from them as they divert attention from the main conveyancing focus and if you end up having your deposit forfeited then the lawyer is left exposed. Furthermore, there is no certainty that just because the owner has signed a lock out contract they will complete the sale with you. They may be in contravention of the agreement if they receive a large enough financial inducement to do so because a wronged buyer with the benefit of a exclusivitycontract will still be obliged show losses as a consequence of the breach and this may not equalise the financial upside that the owner may gain by breaching the agreement, however morally condemnable the behaviour is.
Finally the sale completed on my house in Heysham last September but my buyer keeps Skype messaging every few hours complaining that her lawyer is waiting to hear from mylawyer. What should my lawyer have done now that I have sold?
Following your sale your lawyer is obliged to forward the transfer documentation and all supplemental paperwork to the purchaser's conveyancer. If applicable, your lawyer must also evidence that the legal charge in favour of the lender has been repaid to the buyers solicitors. There are no post completion requirements specific conveyancing in Heysham.
The estate agent has sent us the confirmation of our purchase of a new build flat in Heysham. 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 legal work.
Set out below are examples of a selection of leasehold new build enquiries that you should expect your new-build leasehold conveyancing in Heysham
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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. Forfeiture - bankruptcy or liquidation must not apply under this provision. 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. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I'm converting the mortgage on my current property to a BTL mortgage with Bank of Scotland and I will use the ballance of the raised equity as a down payment on further property. The location we are looking at is Heysham. Will your solicitors be able to act for both sets of lenders and link together the two deals?
Do use our search tool on this page to ensure that the conveyancers are on the relevant lender panels. On the basis that they are your solicitor will be able to connect the two conveyancing matters but you should talk with you conveyancer and specify your expectations and requirements.
My father has suggested that I instruct his conveyancers in Heysham. Should I find my own solicitor?
There are no two ways about it it’s preferable to find a conveyancing lawyer is to have referrals from friends or family who have actually experience in using the conveyancer you're are thinking of instructing.