Is the fact that my conveyancer in Totland is not on my bank's solicitor panel that there is a problem with the standard of her work?
That is more than likely an incorrect assumption to make. There are plenty of reasonable explanations. Just recently a report by the solicitors regulator indicated that over three quarters of law firms surveyed had been removed from at least one lender panel. The top 5 reasons are as follows: (1) lack of transactions (2) the solicitor is a sole practitioner (3) as part of the HSBC panel reduction (4) regulatory contact by SRA (5) accidental removal. Where you are concerned you should simply call the Totland conveyancing practice and ask them why they are no longer on the approved list for your lender.
We are selling our home in Totland and according to the buyers it appears that there is a risk of it being constructed land that was not decontaminated. Any local conveyancer would know that there is no such problem. For the life of me I don't know why the purchasers are using a national conveyancing outfit rather than a conveyancing solicitor in Totland. Having lived in Totland for many years we know that this is a non issue. Should we get in touch with our local Authority to seek confirmation that the buyers are looking for.
It would appear that you have a conveyancing lawyer currently acting for you. What do they say? You need to check with your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same ailment)
I am purchasing my first flat in Totland benefiting from help to buy. The builders refused to budge the price so I negotiated 6k of fixtures and fittings instead. The estate agent told me not inform my solicitor about this extras as it may affect my loan with the lender. Is this normal?.
All lenders require a Disclosure of Incentives Form from the builder of any new build, converted or renovated property, It is available online from the Lenders’ Handbook page on the CML website. CML form is completed and handed to the lender's surveyor when the inspection is done.
Lenders have different policies on incentives. Some accept none at all, cash or physical, while others will accept cash incentives up to 5%.
Hard to understand why the representative of a builder would be suggesting you withold information from a solicitor when all this will be clearly visible on forms the builder has to supply to its solicitor, the buyer's solicitor and the surveyor.
Yesterday I discovered that there is a flying freehold issue on a house I put an offer in a fortnight ago in what was supposed to be a simple, chain free conveyancing. Totland is where the house is located. What do you suggest?
Flying freeholds in Totland are unusual but are more likely to exist in relation to terraced houses. Even though you don't necessarily need a conveyancing solicitor in Totland you must be sure that your lawyer goes through the deeds very carefully. Your bank may require your conveyancing solicitor to take out an indemnity policy. Some of the more diligent conveyancing solicitors in Totland 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 residence.
I was recommended by a few selling agents in Totland to find a conveyancer on your site. Is there a financial inducement for Estate Agents to market your lawyers over another?
We don’t offer any commission for sending work our way. We found it would be just too difficult a fee because a client could think, ‘Why is the agent getting a kickback? Why aren’t I receiving any benefit too?’ So we decided to step away from that.
Can you provide any top tips for leasehold conveyancing in Totland from the perspective of expediting the sale process?
- Much of the delay in leasehold conveyancing in Totland can be reduced where you instruct lawyers the minute you market your property and request that they start to collate the leasehold information needed by the purchasers’ conveyancers. Many freeholders or Management Companies in Totland charge for providing management packs for a leasehold home. You or your lawyers should discover the actual amount of the charges. The management information sought as soon as you have a buyer, thus reducing delays. The average time it takes to obtain the necessary information is three weeks. It is the most common cause of delay in leasehold conveyancing in Totland. If you hold a share in a the Management Company, you should make sure that you have the original share document. Organising a re-issued share certificate can be a time consuming formality and slows down many a Totland conveyancing deal. If a duplicate share certificate is needed, do contact the company officers or managing agents (where applicable) for this sooner rather than later. You may think that you are aware of the number of years remaining on your lease but it would be advisable double-check via your lawyers. A purchaser's lawyer will be unlikely to recommend their client to proceed with the purchase of a leasehold property the remaining number of years is under 80 years. In the circumstances it is essential at an early stage that you consider whether the lease requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Totland Conveyancing for Leasehold Flats - Sample of Questions you should ask Prior to Purchasing
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Generally speaking the outlay for major works are not included within maintenance charges, albeit that a few managing agents in Totland require leasehold owners to contribute towards a sinking fund and this is used to offset against major repairs or maintenance. Be sure to enquire if there are any onerous prohibitions in the lease. By way of example plenty of leases prohibit pets being allowed in certain buildings in Totland. If you love the flatin Totland however your dog can’t live with you then you have a very hard decision. Best to be warned if a new roof is being installed or some other significant cost is pending that will be shared amongst the tenants and will materially impact the level of the maintenance costs or result in a specific payment.