My husband and I are hoping to purchase a house in Knebworth and are in fact using a Knebworth conveyancing firm. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report in anticipation of exchanging contracts shortly. The Royal Bank of Scotland have this morning contacted us to inform me that they have now hit a problem as our Knebworth solicitor is not on their approved list of lawyers. Is this a problem?
When purchasing a property with mortgage finance it is normal for the purchasers' lawyers to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Accreditation Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the bank's conveyancing panel as you are at liberty to use your preferred Knebworth lawyers, in which case it will likely add costs, and it may delay matters as you have another set of people involved.
My partner and I have lately purchased a property in Knebworth. We have noticed several problems with the property which we believe were omitted in the conveyancing searches. What action can we take? Can you clarify the type of searches that needed to have been carried out as part of conveyancing in Knebworth?
The query is not clear as what problems have arisen and if they are unique to conveyancing in Knebworth. Conveyancing searches and investigations initiated during the buying process are designed to help avoid problems. As part of the legal transfer of property, the vendor fills in a form known as a SPIF. If the information is misleading, you may have a misrepresentation claim against the owner for any losses that you have suffered. The survey should have identified any problems with the structure of the property. Assuming a detailed survey was carried out and the issues were not identified, you may have a claim against the surveyor. However, if you did not have a full survey, you may be responsible for fixing any defects that have now been noted. We would always encourage buyers to take every possible step to ensure they are completely aware of the condition of a property before purchase regardless of whether they are buying in Knebworth.
I am considering applying for a UBS mortgage for purchase of a new build (under development) in Knebworth with 70% loan to value. Is it compulsory to choose a solicitor on the conveyancing panel for UBS ?
In theory, you could use a solicitor that is not on the UBS conveyancing panel, but UBS would require one of their panel solicitors to be instructed to act in their interests, and you'd have to pay for this - so most people instruct a panel solicitor. It's also easier, as otherwise you'd have to deal with two solicitors for the same conveyancing matter.
I used Stirling Law several years past for my conveyancing in Knebworth. I now require my file however the law firm is no longer operating. What do I do?
You should contact the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Knebworth of the conveyancing firm of solicitors you previously used, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Knebworth. Conveyancing is daunting 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.
Here are examples of a selection of leasehold new build enquiries that you can expect your new-build leasehold conveyancing in Knebworth
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There must be mutual enforceability of lessee’s covenants. The Vendor must covenant to keep unoccupied units in good repair until long leases are granted therefore. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please supply evidence that the form of Lease proposed has been approved by the Land Registry. Forfeiture - bankruptcy or liquidation must not apply under this provision.
Can you provide any advice for leasehold conveyancing in Knebworth with the purpose of expediting the sale process?
- A significant proportion of the frustration in leasehold conveyancing in Knebworth can be bypassed where you instruct lawyers the minute your agents start advertising the property and request that they start to collate the leasehold documentation needed by the purchasers’ solicitors. Many landlords or managing agents in Knebworth levy fees for supplying management packs for a leasehold home. You or your lawyers should enquire as to the actual amount of the charges. The management pack sought as soon as you have a buyer, thus reducing delays. The average time it takes to receive management information is three weeks. It is the most frequent reason for frustration in leasehold conveyancing in Knebworth. If you have the benefit of shareholding in the freehold, you should make sure that you are holding the original share certificate. Arranging a duplicate share certificate is often a lengthy formality and delays many a Knebworth conveyancing transaction. If a new share is necessary, you should approach the company officers or managing agents (where applicable) for this as soon as possible. You may think that you are aware of the number of years remaining on your lease but it would be wise to verify this via your solicitors. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is less than 75 years. In the circumstances it is essential at an early stage that you identify whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Knebworth Leasehold Conveyancing - Sample of Queries before buying
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Who are the managing agents? Its a good idea to discover as much as possible about the managing agents as they will either make your life much easier or problematic. Being a leasehold owner you are frequently at the mercy of the managing agents both financially and when it comes to practical matters such as the cleanliness of the communal areas. Don't be afraid to ask other tenants what they think of them. In conclusion, be sure you know the dates that the service charges are due to the relevant party and precisely how they are spending the funds. Can you inform me if there are any major works in the near future that could increase the service costs?