We chose a Stretford based lawyer for our conveyancing in Stretford today. Reviewing the fine print it is apparent thatwe are on the hook for costs even if the sale aborts. Would I be best advised to appoint an internet solicitor practice promoting no move no charge conveyancing in Stretford?
Generally there is a compromise along the lines that if "No Sale No Fee" is advertised then the conveyancing charges will tend to be be uplifted to counteract those conveyances that fail to complete. You should be mindful that such deals rarely cover disbursements such as Stretford conveyancing search charges.
I do hope you can assist me. My Stretford conveyancer is informing me me that he is legally obliged toapply for Stretford conveyancing searches asthe firm are on the Nat Westsolicitor panel. Do I not have any say here?
Unfortunately both you and your lawyer have little choice here. Given that you are taking out a loan with a lender your solicitor has to comply with their conditions as set out in their version of the CML Conveyancing Handbook. Your conveyancer would have previously signed the Terms and Conditions of your lender’s conveyancing panel appointment which obliges them to comply with the Council of Mortgage Lenders’ Handbook provisions . Even if you were a cash buyer you would be ill advised not to carry out Stretford conveyancing searches.
Is it correct that all Stretford CQS (Conveyancing Quality Scheme) solicitors are on the Nationwide conveyancing list of approved practices?
Some major banks and building societies now utilise the accreditation scheme as the kick off point for Panel membership such as HSBC and Santander. CQS membership however is no guarantee to lender panel acceptance. That being said,the CML have indicated that it is likely to become a pre-requisite for firms wishing to remain on their approved list of firms.
When it comes to mortgage companies such as TSB, do Stretford conveyancers have to pay an annual charge to be on the conveyancing panel?
We are not aware of any mortgage company fees to register on their list of approved firms, although some do levy an administration charge to deal with the processing of the conveyancing panel submission.
I can not fathom if my mortgage offer obliges me to make sure the lease term for the flat is extended prior to the completion date. I have called into my local Stretford bank branch on various occasions and was told they are content with the situation and they would lend. My Stretford conveyancing solicitor - who is on the bank conveyancing panel- telephoned to say that they will not lend in accordance with their UK Finance Lenders’ Handbook minimum lease term requirements. I simply don't know who is right.
Your solicitor must follow the CML Handbook Part 2 specifications for your bank. Unless your lawyer obtains specific confirmation in writing that the lender will go ahead, your lawyer has no choice but to refrain from exchanging contract and committing you to the purchase. We would suggest that you ask the bank to contact your lawyer in writing confirming that they will accept the number of years left on the lease.
Is it necessary to take out insurance to address the risk of chancel repairs when purchasing a residence in Stretford?
Unless a previous acquisition of the premises completed after 12 October 2013 you may take it that solicitors conducting conveyancing in Stretford to continue to suggest a chancel search and or insurance against a claim.
Yesterday I discovered that there is a flying freehold issue on a house I have offered on a fortnight ago in what was supposed to be a quick, chain free conveyancing. Stretford is the location of the property. Is there any guidance you can impart?
Flying freeholds in Stretford are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Stretford you would need to get your solicitor to go through the deeds thoroughly. Your lender may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Stretford may ascertain that this is not enough and that the deeds be re-written to give you the most up to date legal protection. If so, the next door neighbour also had to sign up to the revised deeds.It is possible that your lender will not accept the situation so the sooner you find out the better. You should also check with your insurance broker as to whether they will insure a flying freehold property.
I have just started marketing my ground floor flat in Stretford. Conveyancing is yet to be initiated, but I have recently received a yearly maintenance charge demand – what should I do?
It best that you pay the maintenance contribution as normal as all ground rent and maintenance invoices should be allotted on completion, so you will be reimbursed by the buyer for the period running from after the completion date to the subsequent invoice date. Most management companies will not acknowledge the buyer unless the service charges have been paid and are up to date, so it is important for both buyer and seller for the seller to show that they are up to date. Having a clear account will assist your cause and will leave you no worse off financially.
Leasehold Conveyancing in Stretford - Sample of Queries before Purchasing
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Who manages the building? How long is the Lease?