My fiance and I wish to acquire a newly converted flat in Patcham with a residential mortgage from Clydesdale.We like our Patcham conveyancing practitioner but Clydesdale informed us she’s not on their "panel". we are left little option but to use a Clydesdale panel firm or keep our local solicitor and pay for one of their panel ones to represent them. We feel as though this is unjust; is there anything we can do?
No, not really. The mortgage offered to you contains various provisions, a common one being that solicitors must be on the Clydesdale approved list. Until recently, most mortgage companies had large numbers of law firms on their panels: a borrower could find one for themselves, as long as it was on the lender's panel. The lender would then simply instruct the borrower's lawyers to act for the lender, too. You can use your lender's panel lawyers or you could borrow from another lender which does not restrict your choice. A further alternative is for your lawyer to apply to be on the conveyancing panel for Clydesdale
Should commercial conveyancing searches reveal impending roadworks that may affect a commercial land in Patcham?
Many commercial conveyancing solicitors in Patcham will carry out a SiteSolutions Highways report as it dramatically cuts the time that conveyancers spend in investigating accurate data on highways that impact buildings and development assets in Patcham. The report provides definitive information on the adoption status of roads, footpaths and verges, as well as the implication of traffic schemes and the rights of way surrounding a commercial development sites in Patcham.
For every commercial conveyancing transaction in Patcham it is critical to investigate the adoption status of roads surrounding a site. The absence of identifying developments where adoption procedures have not been dealt with adequately can cause delays to Patcham commercial conveyancing transactions as well as pose a risk to future intentions for the site. These searches are not conducted for domestic conveyancing in Patcham.
three months have gone by since my purchase conveyancing in Patcham completed. I have checked the Land Registry site which shows that I paid £150,000 when infact I paid £160,000. 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 asset 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.
How does conveyancing in Patcham differ for new build properties?
Most buyers of new build property in Patcham contact us having been asked by the seller to exchange contracts and commit to the purchase even before the house is built. This is because house builders in Patcham usually buy the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancing solicitors as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Patcham or who has acted in the same development.
Due to the encouragement of my in-laws I had a survey completed on a house in Patcham in advance of appointing lawyers. I have been told that there is a flying freehold element to the property. The surveyor has said that some banks will refuse to issue a mortgage on this type of home.
It varies from the lender to lender. Bank of Scotland has different instructions from Birmingham Midshires. Should you wish to telephone us we can investigate further via the appropriate lender. If you lender is happy to lend one our lawyers can assist as they are accustomed to dealing with flying freeholds in Patcham. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Patcham to see if the conveyancing will be more expensive.
I've recently bought a leasehold property in Patcham. Am I liable to pay service charges for periods before my ownership?
Where the service charge has already been demanded from the previous lessee and they have not paid you would not usually be personally liable for the arrears. Strange as it may seem, your landlord may still be able to take action to forfeit the lease. It is an essential part of leasehold conveyancing for your conveyancer to ensure to have an up to date clear service charge receipt before completion of your purchase. If you have a mortgage this is likely to be a requirement of your lender.
If you purchase part way through an accounting year you may be liable for charges not yet demanded even if they relate to a period prior to your purchase. In such circumstances your conveyancer would normally arrange for the seller to set aside some money to cover their part of the period (usually called a service charge retention).
Leasehold Conveyancing in Patcham - Examples of Questions you should consider Prior to Purchasing
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Best to be warned if window replacement or some other major work is pending to be shared between the leaseholders and will materially increase the the maintenance charges or necessitate a specific invoice. What prohibitions are there in the Patcham Lease? Please note that where the lease has fewer than eighty years it will have adverse implications on the marketability of the apartment. Check with your lender that they are happy with residual term of the lease. A short lease means that you will almost definitely require a lease extension sooner rather than later and it is worth finding out how much this will be. For most Patchamlease extensions you will be required to have owned the premises for a couple of years before you are eligible to carry out a lease extension.