My wife and I are planning to acquire a 1 bedroom flat in Kings Norton with a mortgage. We have a Kings Norton solicitor, but the lender advise she’s not on their "panel". We have to appoint one of the lender panel solicitors or keep our Kings Norton solicitor and pay for one of their panel firms to act for them. This feels very unfair; is there anything we can do?
Unfortunately,no. Your mortgage offer is subject to its terms and conditions, one of which will be that lawyers will on the lender’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 Kings Norton conveyancing solicitor to apply to be on the conveyancing panel.
Will my conveyancing lawyers need to check that the building insurance when buying a house in Kings Norton. My lender is Chelsea Building Society
Chelsea Building Society have specific requirements as set out in the UK Finance Lenders’ Handbook. As of 27/7/2024, the requirements read as follows :
Me and my brother purchased a renovated Victorian house in Kings Norton. Conveyancing lawyer represented me and Aldermore. I happened to do a free search for it on the Land Registry database and I saw two entries: one for freehold, another for leasehold under the exact same address. I'd like to know for sure, how can I find out??
You should assess the Freehold register you have again and check the Charges Register as there may be 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 Kings Norton and other locations in the country and poses no real issues for owners other than when they mortgage they have to account for both freehold and leasehold interests when dealing with lenders. You can also enquire as to the situation with your conveyancing lawyer who conducted the purchase.
I decided to have a survey completed on a property in Kings Norton in advance of appointing solicitors. I have been informed that there is a flying freehold element to the house. The surveyor advised that some banks may not give a loan on a flying freehold home.
It varies from the lender to lender. HSBC has different instructions for example to Birmingham Midshires. Should you wish to telephone us we can check via the relevant mortgage company. If you lender is happy to lend one our lawyers can help as they are accustomed to dealing with flying freeholds in Kings Norton. Conveyancing will be smoother if you use a solicitor in Kings Norton especially if they regularly deal with such properties in Kings Norton.
Estate agents have just been given the go-ahead to market my garden flat in Kings Norton. Conveyancing solicitors are to be appointed soon, but I have just had a yearly service charge invoice – should I leave it to the buyer to sort out?
It best that you pay the service charge as normal because all ground rent and service payments will be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the next payment date. Most managing agents will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Kings Norton Leasehold Conveyancing - Examples of Queries before Purchasing
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The answer will be important as a) areas can cause problems in the block as the common areas may start to deteriorate where services remain unpaid b) if the leaseholders have an issue with the managing agents you will wish to have all the details Are there any major works on the horizon that will likely add a premium to the service costs?
Am in the process of purchasing my 1st house in Kings Norton. Conveyancing lawyer has been instructed. The mortgage adviser pointed out that a survey is not necessary as the house was only constructed 16 yrs ago.
At the very least you should have a Home Buyer's Report. As the premises is more than 10 years old the property will be without a warranty, so you would be well advised not to take a risk. For a property that age with no signs of problems a Home Buyer's report could suffice. The report should highlight any apparent issues and suggest further investigation where appropriate. If there are any signs of material issues seek a comprehensive Building Survey from the beginning.