I was informed recently by my mortgage adviser that my Keswick lawyer is not on the bank Solicitor panel. How can I be certain whether this is indeed the case?
You need to call your Keswick lawyer directly. You lawyer should inform you of the situation. Where they are not on the panel they may recommend you to a Keswick conveyancing practice that is on the approved list of lawyers for your mortgage company.
The Keswick conveyancing lawyers that I recently instructed on my purchase in Keswick have suddenly shut down. I chose them because I needed a solicitor on the Coventry BS conveyancing panel and my family Keswick lawyer was not. I gave my credit card details for them to take £195 for searches. What are my options?
If you have an estate agent involved then let them know immediately so that they can let the sellers know that there may be a slight delay due to reasons beyond your control. Most sellers would be sympathetic and urge their lawyer to send a new set of papers to your new solicitors. You should appoint new lawyers that are on the Coventry BS conveyancing panel and notify the lender. If you have paid over any money, it will hopefully be held by the SRA as money in an intervened firm's bank accounts is transferred to the SRA. Then, the SRA or the intervention agent looks at the intervened firm's accounts to work out who the money belongs to. To claim your money you will need to contact the SRA. If the SRA cannot return money you are owed from the firm's bank accounts, or if they can only return part of the money, you can apply to the Compensation Fund for a grant. Your new lawyers may be able to help.
Are there restrictive covenants that are commonly picked up during conveyancing in Keswick?
Covenants that are restrictive in nature can be picked up when reviewing land registry title as part of the process of conveyancing in Keswick. 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…’
How does conveyancing in Keswick differ for new build properties?
Most buyers of new build property in Keswick approach us having been asked by the builder to sign contracts and commit to the purchase even before the premises is constructed. This is because builders in Keswick tend to purchase the real estate, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct property lawyers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are accustomed to new build conveyancing in Keswick or who has acted in the same development.
I was pointed in your direction by a number of selling agents in Keswick to find a conveyancer using your seach tool. Is there a financial upside for Estate Agents to promote your services ahead of a competitor’s?
We don’t give any referral fee for pointing buyers and sellers our way. We found it would be just too difficult a fee as a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ We would prefer to grow our business on genuine recommendations.
I work for a busy estate agent office in Keswick where we have experienced a few flat sales derailed as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Keswick conveyancing firms. Please can you clarify whether the vendor of a flat can instigate the lease extension formalities for the buyer?
Provided that the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to start the lease extension process and assign the benefit of the notice to the purchaser. This means that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment needs to be completed before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to agree the lease extension with the freeholder either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the purchaser.
Keswick Leasehold Conveyancing - A selection of Queries Prior to Purchasing
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How much is the maintenance charge and ground rent on the property? Please tell me if there are any major works on the horizon that could increase the maintenance costs? Best to be warned whether fixing the lift or some other significant cost is anticipated that will be shared by the leasehold owners and may well materially increase the the service charges or require a specific invoice.