I am in the process of selling my ground floor flat in Hook Norton and the EA has just telephoned to warn that the buyers are switching property lawyer. The excuse is that the lender will only engage with property lawyers on their conveyancing panel. Why would a leading lender only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Hook Norton ?
Mortgage companies have always had panels of law firms that can represent them, but in the last few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Mortgage companies justify this action to a rise in fraud as the reason for the cull – criteria have been tightened as a smaller panel is easier to maintain. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society says it is hearing daily from firms that have been removed from panels. Plenty of firms do not even realise 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.
Will my lawyer be raising questions concerning flooding as part of the conveyancing in Hook Norton.
The risk of flooding is if increasing concern for solicitors carrying out conveyancing in Hook Norton. There are those who buy a house in Hook Norton, fully aware that at some time, it may be flooded. However, aside from the physical destruction, where a property is at risk of flooding, it may be difficult to get a mortgage, satisfactory building insurance, or dispose of the premises. There are steps that can be taken during the course of a property purchase to forewarn the buyer.
Solicitors are not best placed to impart advice on flood risk, however there are a various checks that may be undertaken by the purchaser or by their conveyancers which can figure out the risks in Hook Norton. The standard information supplied to a buyer’s conveyancer (where the Conveyancing Protocol is adopted) includes a usual inquiry of the vendor to determine if the property has suffered from flooding. In the event that the property has been flooded in past and is not notified by the vendor, then a purchaser may issue a compensation claim resulting from an incorrect reply. A purchaser’s solicitors should also order an enviro report. This will higlight if there is a recorded flood risk. If so, more detailed investigations should be initiated.
Me and my brother purchased a renovated Georgian property in Hook Norton. Conveyancing solicitor represented me and Aldermore. I did a free Land Registry search last week and I saw two entries: the first freehold, another for leasehold with the exact same property. I thought I was buying a freehold how can I check?
You need to assess the Freehold register you have again and check the Charges Register for mention of a lease. The best way to be sure that you are also the registered owner of the leasehold and freehold title as well is to check (£3). It is not completely unheard of in Hook Norton and other areas of the country and poses no real issues for owners other than when they sell they have to account for both freehold and leasehold interests when dealing with buyers. You can also check the position with the conveyancing lawyer who conducted the work.
Due to the input of my in-laws I had a survey completed on a house in Hook Norton before instructing conveyancers. I have been told that there is a flying freehold overhang to the property. The surveyor has said that some lenders tend refuse to grant a loan on a flying freehold home.
It varies from the lender to lender. Lloyds has different instructions from Halifax. If you call us we can check with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Hook Norton. Conveyancing will be smoother if you use a solicitor in Hook Norton especially if they are familiar with such properties in Hook Norton.
As co-executor for the estate of my father I am disposing of a property in Swansea but live in Hook Norton. My solicitor (approximately 260 miles from meneeds me to execute a stat dec before completion. Could you suggest a conveyancing lawyer in Hook Norton to attest this legal document for me?
Technically speaking you are unlikely to be required to have the documents attested by a conveyancing solicitor. Normally or notary public or solicitor will do regardless of whether they are Hook Norton based
Can you provide any advice for leasehold conveyancing in Hook Norton with the intention of speeding up the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Hook Norton can be reduced if you instruct lawyers the minute your agents start advertising the property and ask them to collate the leasehold information which will be required by the purchasers’ solicitors. A minority of Hook Norton leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers put in hand bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the yearly service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the actual amount of the service charge so that they can pass this information on to the purchasers or their solicitors. You believe that you know the number of years left on your lease but you should double-check by asking your conveyancers. A buyer’s conveyancer will not be happy to advise their client to where the lease term is less than 80 years. In the circumstances it is important at an as soon as possible that you identify whether the lease for your property needs extending. If it does, contact your solicitors before you put your property on the market for sale. In the event that you altered the property did you need the Landlord’s permission? Have you, for example installed wooden flooring? Hook Norton leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord acquiescing to such alterations. Should you dont have the paperwork to hand you should not contact the landlord without contacting your solicitor in advance.
Leasehold Conveyancing in Hook Norton - Examples of Questions you should consider Prior to Purchasing
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Is there a share of the freehold? What prohibitions exist in the Hook Norton Lease? The answer will be useful as a) areas could result in problems in the building as the communal areas may start to deteriorate where services are not paid for b) if the leaseholders have an issue with the running of the building you will want to have all the details