My partner and I are looking to acquire a flat in New Romney and have appointed a New Romney conveyancing practice. Within the last couple of days our solicitor has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Halifax have this afternoon contacted us to advise us that they have now hit a problem as our New Romney lawyer is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is conventional for the purchasers' lawyers to also act for the purchaser's lender. 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 Quality Scheme. Your property lawyer should contact your bank and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own solicitors to act. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel as you are at liberty to use your preferred New Romney lawyers, in which case your legal fees may increase, and it may delay matters as you have another set of people involved.
Last January we completed a house move in New Romney. We have noticed several issues with the property which we consider were missed in the conveyancing searches. Do we have any recourse? Can you clarify the type of searches that needed to have been carried out for conveyancing in New Romney?
The question is vague as what problems have arisen and if they are relate to conveyancing in New Romney. Conveyancing searches and due diligence undertaken as part of the legal transfer of property are supposed to help avoid problems. As part of the legal transfer of property, a seller completes a form referred to as a Seller’s Property Information Form. If the information provided is incorrect, you could possibly take legal action 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 New Romney.
My friend suggested that if I am buying in New Romney I should ask my conveyancer to execute a Neighbourhood, Planning and Local Amenity Search. What does it cover?
This is a search is usually quoted for as part of the standard New Romney conveyancing searches. It is a large document of about 40 pages, listing and detailing important information about New Romney around the property and the people living there. It incorporates an Aerial Photograph, Planning Applications, Land Use, Mobile Phone Masts, Rights of Way, the New Romney Housing Market, Council Tax Banding, the type of People living in the area, the dominant type of Housing, the Average Property Price, Crime details, New Romney Education with maps and statistics, Local Amenities and other useful information concerning New Romney.
I decided to have a survey carried out on a house in New Romney in advance of retaining solicitors. I have been informed that there is a flying freehold aspect to the property. Our surveyor advised that some lenders may refuse to grant a loan on such a house.
It depends who your proposed lender is. Santander has different instructions from Nationwide. Should you wish to telephone us we can check via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are used to dealing with flying freeholds in New Romney. Conveyancing may be slightly more expensive based on your lender's requirements.
My company is hoping to lease a unit on the high street. Can you recommend lawyers offering no-sale-no charges for non-domestic conveyancing in New Romney for below 2k?
We can recommend firms who have an in-depth of experience of commercial conveyancing in New Romney, including the sale and purchase of businesses as well as simply premises. If you are hoping to buy or lease a shop, pub, restaurant, office, retail unit or a complete business we will put you in touch with the right lawyer. As for the costs this will depend on the structure and nuances of the deal. Please provide us with your details or email us so that we may furnish you with comprehensive commercial conveyancing calculation.
Looking forward to exchange soon on a ground floor flat in New Romney. Conveyancing lawyers inform me that they will have a report out to me within the next couple of days. What should I be looking out for?
Your report on title for your leasehold conveyancing in New Romney should include some of the following:
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What remedies are open the freeholder should you have contravened the provisions of the lease? The physical ownership of the premises. This could be the flat itself but could also include a loft or storage are if appropriate. How long the lease is. You should be advised as what happens when the lease ends, and informed of the importance of the 80 year mark Defining your rights in respect of common areas in the block.E.G., does the lease include a right of way over a path or staircase? Whether your lease caters for for a reserve fund?
Leasehold Conveyancing in New Romney - Sample of Questions you should ask Prior to Purchasing
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Is there a share of the freehold? This information is helpful as a) areas may cause problems in the block as the communal areas may begin to deteriorate where repairs are not paid for b) if the tenants have a dispute with the managing agents you will need to know about it Are any of leasehold owners in dispute over their service charge liability?