Why is leasehold purchase conveyancing in Kelsall costs more?
In summary, leasehold conveyancing in Kelsall and elsewhere usually warrants additional due diligence compared to freehold transactions. This includes checking the lease terms, liaising with the landlord about the service of required notices, procuring up-to-date service charge and management information, procuring the freeholder’s consents and reviewing management accounts. The obligations on both the landlord and the tenant in the lease need to be studied by the buyer’s conveyancing team and read from beginning to end – no matter how many different owners have owned the lease since it was first entered into.
We are expecting a mortgage offer soon. The bank mentioned the home loan came with free conveyancing. Does this mean I have to use their panel conveyancer as I would much rather appoint a Kelsall based conveyancing firm?
Do check but the chances are that appoint one of their panel lawyers where you want the "fee-free" incentive. Speak to the bank to explore if they offer you a monetary alternative. Some mortgage companies have previously offered a £250 cashback as an alternative in which case that money can go towards your preferred conveyancing solicitor in Kelsall.
is it true that all Kelsall solicitor practices on the UBS conveyancing panel are regulated by the Solicitors Regulatory Authority?
As a firm of solicitors, in order to be on the UBS conveyancing panel they would need to be overseen by the Solicitors Regulatory Authority. The majority of banks do list licenced conveyancers on their panel and in such a situation the practice would be regulated by the Council of Licensed Conveyancers.
I recently had an offer accepted on a house in Kelsall. My financial adviser suggested a conveyancing practitioner. I paid an advanced payment of £150. Shortly after, the lawyer called me embarrassingly acknowledging that they were not on the Virgin Money conveyancing panel. Am I right in thinking that I should be due a refund?
You should be able to recover this from the law firm if they were not on the Virgin Money panel. They should have asked at the outset which lender you were obtaining a mortgage with. An important lesson to readers of this site is to check that the lawyers are on the appropriate lender panel.
I am selling my flat. I had a double glazing fitted in June 2006, but did not receive a FENSA certificate or Building Regulation Certificate. My purchaser’s mortgage company, Bank of Ireland are being difficult. The Kelsall solicitor who is on the Bank of Ireland conveyancing panel is happy to accept ‘lack of building regulation’ insurance but Bank of Ireland are requiring a building regulation certificate. Why do Bank of Ireland have a conveyancing panel if they don't accept advice from them?
It is probably the case that Bank of Ireland have referred the matter to their valuer. The reason why Bank of Ireland may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
My relative recommended that where I am buying in Kelsall I should carry out a Neighbourhood, Planning and Local Amenity Search. Can you explain what the purpose of this search is?
This is a search is sometimes quoted for as part of the standard Kelsall conveyancing searches. It is not a small report of about 40 pages, listing and setting out significant information about Kelsall around the property and the people living there. It includes an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the local Housing Market, Council Tax Banding, the demographics of People living in the area, the dominant type of Housing, the Average Property Price, Crime statistics, Kelsall Education with plans and statistics, Local Amenities and other useful information about Kelsall.
I opted to have a survey done on a house in Kelsall before instructing conveyancers. I have been informed that there is a flying freehold aspect to the property. My surveyor advised that some banks will refuse to give a loan on a flying freehold premises.
It depends who your proposed lender is. Bank of Scotland has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can look into this further via the relevant mortgage company. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in Kelsall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Kelsall to see if the conveyancing will be more expensive.
My partner and I are purchasing a first floor flat in Kelsall. At the time of instructing our conveyancer, they assured us that they were on all major UK bank panels. Our financial adviser contacted us today to say that they are not on the Santander approved list. Should that be true, what should we do? Do we just pick a different property lawyer that is on their panel or should we pay for separate representation, with Santander selecting their own approved solicitor.
Where you are buying a property needing 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 conveyancer has to be on that lender's list of approved lawyers. An application has to be made by the conveyancer to the lender to become a member of the lender's panel and there are increasingly strict conditions which the conveyancer has to fulfill. Some building societies now require their panel firms to be part of the Law Society’s Conveyancing Accreditation Scheme. Your property lawyer should call Santander 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 Santander's conveyancing panel as you are at liberty to use your preferred Kelsall lawyers, in which case your legal fees may increase, and it will likely delay the transaction as you are adding another conveyancer into the mix.