My partner and I are planning to acquire a flat in Rawtenstall and have appointed a Rawtenstall conveyancing practice. Within the last couple of days our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Santander have this evening contacted us to advise us that they have now hit a problem as our Rawtenstall conveyancer is not on their conveyancing panel. What do we do from here?
When purchasing a property with the benefit of a mortgage it is usual for the purchasers' lawyers to also represent 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 solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Rawtenstall solicitors, in which case it will likely add costs, and it may delay matters as you are adding another lawyer into the mix.
Do I have to visit the offices of the solicitor to sign the mortgage deed? If so, I will choose one who does conveyancing in Rawtenstall so that I can attend their offices if required.
As opposed to 12 years ago, the vast majority banks no longer require their conveyancing panel solicitor to witness the borrowers signature. It will still be necessary for you to provide identification documents and there are still manifest benefits to using a locally based ayer, in your situation a conveyancing solicitor in Rawtenstall.
Just had an offer accepted on a new build flat in Rawtenstall. Conveyancing is a frightening process at the best of times but I have never purchased a new build flat before. Can you give me some examples of some of the questions asked in new build conveyancing.
Here is a sample of a selection of leasehold new build questions that you may expect your new-build leasehold conveyancing in Rawtenstall
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Please confirm the Lease plans are surveyor prepared. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Investor purchasers must be able to freely grant unsecured tenancies at market rents without requiring any consents. Forfeiture - bankruptcy or liquidation must not apply under this provision. There must be mutual enforceability of lessee’s covenants.
I decided to have a survey done on a property in Rawtenstall before appointing conveyancers. I have been advised that there is a flying freehold aspect to the property. My surveyor advised that some lenders may refuse to give a mortgage on such a premises.
It depends who your proposed lender is. HSBC has different requirements for example to Birmingham Midshires. If you call us we can investigate further with the appropriate mortgage company. If you lender is happy to lend one our lawyers can help as they are used to dealing with flying freeholds in Rawtenstall. Conveyancing can be more complicated and therefore you should check with your conveyancing solicitor in Rawtenstall to see if the conveyancing will be more expensive.
I only have Seventy years left on my flat in Rawtenstall. I am keen to get lease extension but my landlord is can not be found. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply 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 Court. You will be obliged to demonstrate that you have used your best endeavours to locate the freeholder. In some cases an enquiry agent should be useful to conduct investigations and prepare an expert document to be used as proof that the landlord can not be located. It is advisable to get professional help from a property lawyer both on devolving into the landlord’s disappearance and the vesting order request to the County Court overseeing Rawtenstall.
Rawtenstall Conveyancing for Leasehold Flats - A selection of Queries before buying
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Please note that where the lease has fewer than eighty years it will affect the marketability of the flat. It is worth checking with your mortgage company that they are willing to go ahead with the loan given the lease term. A short lease means that you will most likely require a lease extension sooner rather than later and it is worth finding out what this would cost. Remember, in most cases you will be required to have been the owner of the property for two years before you are entitled to extend the lease. It would be sensible to discover as much as you can concerning the managing agents as they can either make your life much simpler or uncomfortable. As the proprietor of a leasehold property you are frequently at the mercy of the managing agents from a financial perspective and when it comes to daily matters like the cleanliness of the common parts. Ask prospective neighbours what they think of their service. In conclusion, find out the dates that the service charges are due to the managing agents and precisely what it includes. What restrictions are contained in the Rawtenstall Lease?
Being a tenant I am liable for a maintenance contribution for my property in Rawtenstall. Due to redundancy and other issues I fell into arrears with payments. I negotiated a clearance schedule but there remains three grand remaining to be paid.
I want to sell and I am nervous that this will hold me back if I have to discharge the amount due now. Do I have to settle before - is this practicable?
Your conveyancing practitioner should be able to negotiate with the appropriate parties, and agree with them whether or not they would accept settlement from sale proceeds. Here is an example of why it might be good to appoint a property lawyer in Rawtenstall as they are likely to enjoy an established relationship with the management company.