My financial adviser requires my Langport law firm’s panel reference for the Nat West conveyancing panel. Can you suggest how I discover this. I have contacted my local Langport branch but they have not got back to me yet.
You are best placed to get this information from your Langport solicitor . They keep a central record lender panel numbers.
I can not fathom if my lender requires a lease extension. I have called my Langport bank branch on various occasions and was told it does not affect the mortgage offer and they would lend. My Langport conveyancing solicitor - who is on the mortgage company conveyancing panel- called and was told they will not lend in accordance with their published requirements. Who do I believe?
As long as the lawyer is on the mortgage company approved list, they must adhere to the Council of Mortgage Lenders’ Handbook requirements for the bank. Unless your lawyer obtains specific confirmation in writing that the mortgage company will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the lender to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
After weeks of negotiation I have agreed a price on a house in Langport. My mortgage broker pressured me to appoint their lawyer. I paid an on account payment of £150. Soon after, the property lawyer contacted me sheepishly admitting that they were not on the Kent Reliance 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 Kent Reliance 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 was told three weeks ago that my mortgage has been agreed to by UBS. Is it usual for UBS to only issue the offer once my solicitor in Langport is approved on their conveyancing panel? UBS have asked my solicitor to see a copy of their PI Insurance.
Mortgage companies tend not to not issue an offer until they have details of a lawyer on their panel. It can take a few weeks for UBS to deal with your lawyer's application to be on the UBS conveyancing panel. There's no guarantee that your solicitor will be accepted.
Is it simple use the search tool to get a costs illustration from a conveyancing practitioner in Langport on the authorised to act for my mortgage?
First select a mortgage company such as Nationwide Building Society, Skipton Building Society or Clydesdale then choose your preferred area for example Langport. Conveyancing firms in Langport and further afield will then be shown.
Am I better off to choose a Langport conveyancing practitioner based in the area that I am hoping to buy? We have a good friend who can perform the legal work but her office is a couple of hundredmiles drive away.
The benefit of a local Langport conveyancing firm is that you can pop in to execute paperwork, deliver your identification documents and pester them where appropriate. Having local Langport know how is a plus. However it's more important to get someone that will pull out all the stops for you. If if people you trust used your friend and the majority were happy that must trump using an unfamiliar Langport conveyancing lawyer solely due to them being based in the area.
I work for a busy estate agent office in Langport where we see a number of leasehold sales put at risk due to leases having less than 80 years remaining. I have been given conflicting advice from local Langport conveyancing firms. Can you shed some light as to whether the vendor of a flat can start the lease extension formalities for the purchaser on completion of the sale?
As long as the seller has been the owner for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. This means that the buyer can avoid having to wait 2 years to extend their lease. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.
Alternatively, it may be possible to extend the lease informally by agreement with the landlord 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.
Leasehold Conveyancing in Langport - Examples of Queries before Purchasing
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Make sure you investigate if there is anything that is prohibited in the lease. For instance some leases prohibit pets being allowed in in a block in Langport. If you love the propertyin Langport but your dog is not allowed to make the move with you then you will be presented with a hard choice. The best form of lease structure is a share of the freehold. In this arrangement the leaseholders enjoy control and although a managing agent is often retained where it is larger than a house conversion, the managing agent acts for the leaseholders themselves. Please note if it is fewer than eighty years it will affect the value of the property. It is worth checking with your bank that they are content with residual term of the lease. Leases with less than 80 years remaining means that you will probably need a lease extension at some point and you need to have some idea of what this will be. For most Langportlease extensions you will be required to have owned the premises for two years in order to be legally able to exercise a lease extension.
I previously told by my bank that their panel lawyers operate no sale no fee basis for conveyancing in Langport. Our purchase aborted and now the conveyancers have invoiced for search fees! They say the fees are seperate!
Langport conveyancing search fees are separate expenses not solicitors costs as these are payable to independent parties.