I am nearing exchange of contracts for my house in Mancot and the EA has just telephoned to advise that the buyers are switching solicitor. The excuse is that the mortgage company will only engage with property lawyers on their approved list. On what basis would a leading mortgage company only work with certain lawyers rather the firm that they want to appoint for their conveyancing in Mancot ?
UK lenders have always had panels of law firms they are willing to work with, but in the last few years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for more than 25 years.
Banks attribute this action to a rise in fraud by way of justification for the cull – criteria have been stiffened as a smaller panel is easier to keep an eye on. Banks tend not to reveal how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms that have been removed from panels. Some do not even realise they have been dropped until contacted by a borrower who has instructed them as might be the situation in your buyers' case. The buyers are unlikely to have any impact on this.
Are there restrictive covenants that are commonly identified as part of conveyancing in Mancot?
Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Mancot. 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…’
I have been on the look out for a flat up to £245,000 and found one close by in Mancot I like with a park and railway links nearby, however it's only got 52 years on the lease. I can't really find anything else in Mancot for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you need a home loan that many years may be problematic. Reduce the price by the expected lease extension will cost if not already taken into account. If the existing owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease and have £0 ground rent by law. You should speak to your conveyancing lawyer regarding this.
Given that I will soon spend over three hundred thousand on a terraced house in Mancot I would like to have a conversation with the solicitor regarding theconveyancing before instructing the firm. Is this something that you can arrange?
We could not agree more - we would be pleased to talk to you we do not take any clients on without you speaking to the conveyancer due to be carrying out your property ownership legalities in Mancot.There is no ‘factory style conveyancing’ - every client is unique individual, not a case reference. The practices that we put you in touch with believe that the figure you are provided with for your conveyancing in Mancot should be the amount on the final invoice that you end up paying.
I need to find a conveyancing solicitor for remortgage conveyancing in Mancot. I have land on a web site which looks to be the perfect answer If it is possible to get all formalities done via phone that would be preferable. Should I be wary? What are the potential pitfalls?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
I would like to rent out my leasehold apartment in Mancot. Conveyancing solicitor who did the purchase is retired - so can't ask him. Is permission from the freeholder required?
A small minority of properties in Mancot do contain a provision to say that subletting is only permitted with prior consent from the landlord. 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 permission.
Mancot Conveyancing for Leasehold Flats - Examples of Queries Prior to Purchasing
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What is the name of the managing agents? How much is the annual service fee and ground rent? It would be a good idea to investigate if there is anything that is prohibited in the lease. By way of example it is fairly common in Mancot leases that pets are not permitted in in a block in Mancot. If you like the flatin Mancot however your cat can’t make the move with you then you will be presented with a difficult determination.