My husband and I are purchasing a 2 bedroom flat in High Wycombe with a mortgage. We have a High Wycombe solicitor, but the bank advise she’s not on their "panel". We have to appoint one of the lender panel firms or continue with our High Wycombe solicitor as well as pay for one of their panel ones to act for them. This seems very unfair; are we not able to require that the mortgage company use our High Wycombe property lawyer ?
Unfortunately,no. The mortgage offered to you is subject to its terms and conditions, one of which will be that lawyers will on the bank’s conveyancing panel. Until recently, most lenders had large numbers of law firms on their panels: a borrower could choose 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 High Wycombe conveyancing lawyer to apply to be on the conveyancing panel.
Should our lawyer be raising enquiries regarding flooding during the conveyancing in High Wycombe.
The risk of flooding is if increasing concern for solicitors specialising in conveyancing in High Wycombe. Some people will buy a property in High Wycombe, fully aware that at some time, it may suffer from flooding. However, leaving to one side the physical damage, if a property is at risk of flooding, it may be difficult to obtain a mortgage, suitable building insurance, or sell the premises. There are steps that can be taken during the course of a house purchase to forewarn the purchaser.
Solicitors are not best placed to impart advice on flood risk, but there are a number of checks that may be undertaken by the purchaser or by their lawyers which will give them a better appreciation of the risks in High Wycombe. The standard information given to a purchaser’s conveyancer (where the Conveyancing Protocol is adopted) includes a standard question of the seller to determine whether the property has suffered from flooding. If the property has been flooded in past and is not disclosed by the seller, then a purchaser may bring a compensation claim as a result of such an incorrect response. The purchaser’s solicitors may also commission an enviro report. This should reveal if there is a recorded flood risk. If so, further investigations should be carried out.
It has been 3 months following my purchase conveyancing in High Wycombe concluded. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £215,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the premises from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
About to purchase a new build flat in High Wycombe. 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 is a sample of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in High Wycombe
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The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. 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. 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. There must be mutual enforceability of lessee’s covenants. Please supply a car parking plan.
How does the Landlord & Tenant Act 1954 impact my business premises in High Wycombe and how can you help?
The 1954 Act provides a safeguard to business tenants, granting the dueness to make a request to court for a continuation of occupancy at the end of the lease term. There are certain specified grounds where a landlord can refrain from granting a lease renewal and the rules are involved. Fees are different for commercial conveyancing. High Wycombe is one of our hundreds of areas of the UK in which the firms we work with have offices
My wife and I are purchasing a 2 bedroom flat in High Wycombe. When we first instructed lawyer, they said that they were on all major UK lender panels. The mortgage broker emailed yesterday to advise that they are not on the Coventry BS approved list. Were it to be true, what should we do? Should we just find a new solicitor that is on their approved list or do we cover the costs for dual representation, with Coventry BS appointing their own approved lawyer.
When buying a property with the benefit of a mortgage it is usual for the purchaser’s lawyers to also act for the purchaser's lender. In order to act for a bank or building society a conveyancing practitioner has to be on that lender's conveyancing panel. An application has to be made by the solicitor to the lender to become a member of the lender's panel and there are increasingly strict criteria which the solicitor has to meet. Some mortgage companies now insist their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your lawyer should call Coventry BS to find out 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 Coventry BS's conveyancing panel and you may continue to use your own High Wycombe solicitors, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another property lawyer into the mix.