I am five weeks into the sale of my flat in Sheffield and the EA has just telephoned to say that the buyers are appointing a new law firm. I am told that this is due to the fact that the mortgage company will only work with solicitors on their approved list. On what basis would a big named lender only work with certain solicitors rather the firm that they want to select to handle their conveyancing in Sheffield ?
UK lenders have always had an approved set of law firms that can represent them, but in recent years big names such as HSBC, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for many years.
Banks point to the increase in fraud as the reason for the reduction – criteria have been stiffened as a smaller panel is easier to keep an eye on. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is hearing daily from firms 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 not going to have any impact on this.
We are purchasing a newly built flat in Sheffield and my lawyer is telling me that she is duty bound to the mortgage company to reveal incentives from the developer. I am nearing the developer’s deadline to exchange and my preference is not to delay the conveyancing. is my lawyer playing by the book?
You should not exchange unless you have been advised to do so by your property lawyer. A precondition to being on a lender panel is to comply with the UK Finance Lenders’ Handbook specifications. The CML Conveyancing Handbook requires that your lawyer have the appropriate Disclosure of Incentive form completed by the developer and accepted by your lender.
I used Action Conveyancing several years ago for my conveyancing in Sheffield. Now, I need my documents but the law firm has closed. What do I do?
You should call the Solicitors Regulatory Authority (SRA) to assist in tracing your conveyancing files. They can be contacted on please contact on 0870 606 2555. Alternatively, you should use their online form to make an enquiry. You will need to provide the SRA with as much information as possible to assist their search, including the name and address in Sheffield of the conveyancing firm of solicitors you previously instructed, the name of conveyancing solicitor with whom you had dealings, and the date on which you last had dealings with the firm.
The estate agent has sent us the confirmation of our purchase of a new build flat in Sheffield. Conveyancing is daunting at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build conveyancing.
Here are examples of a few leasehold new build questions that you should expect your new-build leasehold conveyancing in Sheffield
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There must be mutual enforceability of lessee’s covenants. If there are lifts in the building, please confirm that the owners of flats on the ground and basement floors will not be required to contribute towards the cost of maintenance and renewal. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier? Please provide evidence that the form of Lease proposed has been approved by the Land Registry. Please confirm the Lease plans are architect prepared.
We expect to complete the sale of our £225,000 maisonette in Sheffield next Monday. The management company has quoted £372 for Landlord’s certificate, building insurance schedule and 3 years statements of service charge. Is it legal for a freeholder to charge exorbitant fees for a flat conveyance in Sheffield?
Sheffield conveyancing on leasehold apartments nine out of ten times necessitates fees being raised by landlords agents :
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Completing pre-exchange questions
Where consent is required before sale in Sheffield
Supplying insurance information
Deeds of covenant upon sale
Registering of the assignment of the change of lessee after a sale
Leasehold Conveyancing in Sheffield - Examples of Questions you should ask before Purchasing
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Please inform me if there are any major works in the near future that will likely increase the maintenance costs? This information is helpful as a) areas could cause problems in the building as the common areas may begin to deteriorate where repairs are not paid for b) if the leasehold owners have an issue with the managing agents you will want to have complete disclosure Does the lease have onerous restrictions?
My hope is to acquire a garden apartment in Sheffield. Conveyancing solicitor is waiting for, from the vendor, building insurance paperwork. Earlier today I was advised that the seller must send the insurance paperwork for the flat above in addition. Why would my property lawyer need to check the insurance for the other flat? Is it really necessary? We have been waiting for the previous 4 weeks…
It is not impossible in leasehold conveyancing in Sheffield to find Conveyancing in Sheffield in a minority of cases reveals that the lease requires the tenant's to insure their individual flats rather than the landlord insuring the complete building - which is clearly better. You should clarify with your conveyancer but it would seem that your conveyancing practitioner is looking to establish that the entire building is insured. Insuring your flat is no help when it comes to rebuilding after a fire if the 1st floor cannot be rebuilt for lack of insurance cover.