Unfortunately I am unable to travel far from Lydney. Can you please spell out why all Lydney property lawyers aren't included on all lender panels?
Mortgage Companies tend to impose restrictions on either the nature or volume of conveyancing solicitors on their approved list of lawyers. A common example of such criteria being that a firm needs to have at least two partners. In addition to restricting the nature of firm, some building societies made a decision to limit the size of their panel they permit to act for them. You should note that building societies have no liability for the standard of conveyancing supplied by any Lydney conveyancing practitioner on their approved list. Mortgage fraud was the key driver in the rationalisation of conveyancing panels from 2008 even though there are opposing points of view about whether solicitors sat at the center of that fraud. Data from HMLR exposes that thousands of conveyancing practices only carry out a couple of conveyances annually. Those advocating conveyancing panel cuts question why law firms deserve any entitlement to be on a lender panel when clearly property law is not their speciality?
I got the keys to my house on 2 March and the transaction details is yet to be registered. Any reason for this? My conveyancing solicitor in Lydney advises it will be concluded in a couple of weeks. Are properties in Lydney particularly slow to register?
As far as conveyancing in Lydney is concerned, registration is no faster or slower than anywhere else in England and Wales. As opposed to being determined by geographic area, timeframes can differ according to the party submitting the application, whether it is in order and if the Land registry communicate with any third parties. As of today in the region of three quarters of such applications are fully addressed within 12 days but some can be subject to longer hold-ups. Registration occurs after the purchaser is living at the premises therefore 'speed' is not usually primary concern but if it is urgent that the the registration takes place urgently then you or your solicitor could speak with the land registry and explain the circumstances.
I am buying a new build apartment in Lydney. Conveyancing is necessary evil 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 conveyancing.
Here is a sample of a few leasehold new build questions that you can expect your new-build leasehold conveyancing in Lydney
The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents.
I decided to have a survey done on a house in Lydney prior to appointing lawyers. I have been told that there is a flying freehold aspect to the property. My surveyor advised that some mortgage companies tend refuse to grant a mortgage on a flying freehold house.
It varies from the lender to lender. HSBC has different requirements for example to Birmingham Midshires. If you contact us we can investigate further with the appropriate bank. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Lydney. Conveyancing may be slightly more expensive based on your lender's requirements.
I was pointed in your direction by two or three local property agents in Lydney to locate a property lawyer using your seach tool. Is there a financial advantage for Estate Agents to market your services over and above a competitor’s?
We don’t give any financial incentive for directing people our way. We thought it would be too underhand to pay a commission as a client could think, ‘Why is the agent getting a kickback? Why am I not getting any benefit too?’ We would prefer to grow our business on genuine recommendations.
Jane (my partner) and I may need to sub-let our Lydney 1st floor flat temporarily due to taking a sabbatical. We used a Lydney conveyancing practice in 2003 but they have since shut and we did not have the foresight to get any guidance as to whether the lease prohibits the subletting of the flat. How do we find out?
Some leases for properties in Lydney do contain a provision to say that subletting is only allowed with permission. The landlord cannot unreasonably withhold but, in such cases, they would need to see references. Experience dictates that problems are usually caused by unsatisfactory tenants rather than owner-occupiers and for that reason you can expect the freeholder to take up the references and consider them carefully before granting consent.
Lydney Conveyancing for Leasehold Flats - Sample of Queries before Purchasing
You should want to find out as much as you can regarding the company managing the block as they will either make life much simpler or problematic. Being a leasehold owner you are often at the mercy of the managing agents from a financial perspective and when it comes to daily issues like the cleanliness of the common parts. Enquire of prospective neighbours what they think of their service. Finally, investigate as to the dates that you are obliged pay the service charge to the appropriate party and precisely how they are spending the funds. Best to be warned if changing the roof or some other significant cost is due in the foreseeable future that will be shared between the leaseholders and may well materially impact the level of the service charges or require a one time payment. Are there any major works on the horizon that will add a premium to the maintenance fees?