I am nearing exchange of contracts for my apartment in Newhaven and the EA has just called to warn that the buyers are swapping solicitor. The reason given is that the mortgage company will only work with solicitors on their conveyancing panel. Why would a major lender only engage with certain law firms rather the firm that they want to choose to handle their conveyancing in Newhaven ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Yorkshire Building Society, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for over 25 years.
Lenders blame a rise in fraud as the reason for the reduction – criteria have been narrowed 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 being contacted daily by practices that have been removed from panels. Plenty of firms 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 sway in the decision.
I had a mortgage agreed in principle with Co-operative. Newhaven conveyancing solicitors are chosen. How long does it take for Co-operative to forward the offer to the property lawyer?
There is no definitive answer here. Have Co-operative conducted the valuation? Have you informed Co-operative as to your lawyers' details and checked that your lawyers are on the Co-operative conveyancing panel? It is not unusual for a mortgage offer to take a month to come through.
I have decided to exercise my right to buy my property in Newhaven off the council. I have a mortgage agreed with Coventry BS. Conveyancing is new to me. Can I proceed without a solicitor easily? I think we can but we keep being told I should use one. Any advice?
It is not advisable to proceed with a house purchase without a solicitor. The council's solicitor are not acting for you. You need a solicitor for a number reasons. One of which is to verify what plans the Council have for repairs and refurbishment for the next five years. Many leaseholders have been stung for contributions of thousands of pounds. In any event, if you are getting a mortgage with Coventry BS, you will need to appoint a solicitor on the Coventry BS conveyancing panel.
I am selling my apartment. I had a double glazing fitted in February 2010, but did not receive a FENSA certificate or Building Regulation Certificate. My buyer's lender, Clydesdale are being pedantic. The Newhaven solicitor who is on the Clydesdale conveyancing panel is recommending indemnity insurance as a solution but Clydesdale are insisting on a building regulation certificate. Why do Clydesdale have a conveyancing panel if they don't accept advice from them?
It is probably the case that Clydesdale have referred the matter to their valuer. The reason why Clydesdale may not want to accept indemnity insurance is because it does not give them any reassurance that the double glazing was correctly and safely installed. The indemnity insurance merely protects against enforcement action which is very unlikely anyway.
I have been on the look out for a flat up to £305k and found one round the corner in Newhaven I like with open areas and railway links in the vicinity, however it only has 61 years unexpired on the lease. I can't really find anything else in Newhaven in this price bracket, so just wondered if I would be making a grave error buying a short lease?
If you need a mortgage that many years will likely be an issue. Discount the offer by the expected lease extension will cost if not already taken into account. If the existing proprietor has owned the premises for at least twenty four months you could ask them to start the process of the extension and pass it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should speak to your conveyancing solicitor about this matter.
I'm refinancing my primary home to a BTL loan with Norwich and Peterborough Building Society and intend to use the remaining equity towards another property. The neighborhood we are talking about is Newhaven. Will your lawyers be able to act for both sets of lenders and tie in the conveyances?
Make use of our comparison tool on this page to ensure that the solicitors are on the appropriate lender panels. Having checked that they are your solicitor should be able to simultaneously deal with the two conveyancing matters but you should talk with you lawyer and communicate your expectations and requirements.
Am I best advised to instruct a Newhaven conveyancing solicitor in close proximity to the house I am purchasing? We have a good friend who can conduct the conveyancing but they are based approximately 350kilometers away.
The primary upside of using a high street Newhaven conveyancing practice is that you can pop in to sign documents, hand in your identification documents and apply pressure on them if necessary. They will also have local knowledge which is a benefit. That being said it's more important to get someone that will pull out all the stops for you. If you know people who instructed your friend and in the main were happy that must trump using an unfamiliar Newhaven conveyancing lawyer just because they are round the corner.
Is planning permission required to convert a house into multiple flats in Newhaven? This has been done to a house opposite to my home in Newhaven and was ignorant of the conversion until it was complete.
Planning permission is needed for converting a single dwelling in Newhaven into flats but possibly not for converting once again to single dwelling-house so, in answer to your question, yes.