Is the fact that my conveyancer in New Forest is not on my bank's solicitor panel that there is a problem with the quality of the firm’s conveyancing?
That is most likely a wrong assumption to make. There are all sorts of perfectly reasonable explanations. A recent report by the solicitors regulator revealed that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) low volume of transactions (2) the lawyer is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Should you be concerned you should simply call the New Forest conveyancing practice and ask them why they are no longer on the approved list for your lender.
What happens if my lawyer’s firm is removed from the Skipton Conveyancing panel ahead of completing my conveyancing in New Forest?
First, this is a very rare occurrence. In most cases even where a law firm is removed off of a panel the lender would allow the completion to go ahead as the lender would appreciate the difficulties that they would place you in if you have to instruct a new solicitor days before completion. In a worst case scenario where the lender insists that you instruct a new firm then it is possible for a very good lawyer to expedite the conveyancing albeit that you may pay a significant premium for this. The analogous situation is where a buyer instructs a lawyer, exchanges contracts and the law firm is shut down by a regulator such as the SRA. Again, in this situation you can find lawyers who can troubleshoot their way to bring the conveyancing to a satisfactory conclusion - albeit at a cost.
3 months have elapsed since my purchase conveyancing in New Forest concluded. I have checked the Land Registry site which shows that I paid £200,000 when infact I paid £170,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I'm buying a new build house in New Forest benefiting from help to buy. The builders would not move on the amount so I negotiated £7000 of extras instead. The house builders rep suggested that I not inform my solicitor about the extras as it could put at risk my loan with the bank. Should I keep quiet?.
All lenders require a Disclosure of Incentives Form from the developer of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
There are only 72 years remaining on my lease in New Forest. I need to extend my lease but my landlord is missing. What options are available to me?
On the basis that you meet the appropriate requirements, under the Leasehold Reform, Housing and Urban Development Act 1993 you can submit an application to the County Court for for permission to dispense with the service of the initial notice. This will enable the lease to be lengthened by the magistrate. You will be obliged to demonstrate that you or your lawyers have used your best endeavours to track down the freeholder. In some cases a specialist would be helpful to conduct investigations and to produce a report to be accepted by the court as proof that the freeholder is indeed missing. It is advisable to get professional help from a solicitor both on proving the landlord’s disappearance and the application to the County Court covering New Forest.
Leasehold Conveyancing in New Forest - Examples of Queries Prior to buying
Generally speaking the outlay for major works are not included within maintenance charges, albeit that there some managing agents in New Forest obliged leasehold owners to contribute towards a reserve fund and this is used to offset against larger works. The answer will be useful as a) areas can result in problems for the block as the communal areas may begin to deteriorate where services remain unpaid b) if the leasehold owners have an issue with the managing agents you will want to have all the details What is the the remaining lease term?
Builders have recommended to me a property lawyer and I've obtained an estimate from them. They are almost £250 less expensive than my family New Forest conveyancer. What's the catch?
Builders normally have panels of conveyancing practitioners who expedite matters and who know the developer’s documentation and conveyancing practitioner. Plenty of developers offer an incentive to select their approved conveyancing practitioner for this reason, any increased charges can be avoided and a developer will not put forward a conveyancing factory and run the risk of having the conveyancing stall when they require an exchange inside a month. A counter-argument for not agreeing to use the suggested solicitor is that they may prove hesitant to 'push' your interests for fear of alienating the developer. If you worry that this may be the situation you should remain with your high street New Forest lawyer.