I am progressing with the sale of my maisonette in Trowbridge and the estate agent has just called to warn that the buyers are appointing a new solicitor. The excuse is that the mortgage company will only engage with solicitors on their conveyancing panel. On what basis would a major mortgage company only engage with certain law firms rather the firm that they want to appoint to handle their conveyancing in Trowbridge ?
UK lenders have always had panels of law firms that can act for them, but in the last few years big names such as HSBC, have considered and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lenders point to the increase in fraud by way of justification 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. Your buyers are unlikely to have any impact on this.
Is there a search tool that I can utilise to discover of the solicitor handling my conveyancing in Trowbridge is on the lender’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for The Royal Bank of Scotland thus paying £187.00 plus VAT in another set of legal fees.
You should make the most of the search tool on this web page. Pick the mortgage company and type ‘Trowbridge’ or your preferred area and you will discover a number of lawyer based in Trowbridge or near you.
About to purchase a new build flat in Trowbridge. 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 legal work.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Trowbridge
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Where service of notices and proceedings can be at the property demised please confirm that this can be amended to include simultaneous services at the Lessees’ solicitors’ offices where the Lessee from time to time is not resident in the UK - such solicitors may be varied by notice in writing to the Landlord from time to time but otherwise will be as previously specified. Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. 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.
Over the last few months I have been searching for a flat up to £305k and identified one close by in Trowbridge I like with amenity areas and transport links nearby, however it only has 61 years unexpired on the lease. I can't really find anything else in Trowbridge for this price, so just wondered if I would be making a mistake purchasing a lease with such few years left?
Should you need a home loan the shortness of the lease may be a potential deal breaker. Reduce the price by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for a minimum of 2 years you could ask them to start the process of the extension and then assign it to you. You can add 90 years to the existing lease and have £0 ground rent by law. You should consult your conveyancing lawyer concerning this matter.
In my capacity as executor for the will of my father I am selling a property in Neath but reside in Trowbridge. My lawyer (who is 250 miles from mehas requested that I execute a statutory declaration prior to completion. Could you suggest a conveyancing solicitor in Trowbridge to witness and place their company stamp on the document?
strictly speaking you are unlikely to need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will suffice regardless of whether they are Trowbridge based
I've recently bought a leasehold property in Trowbridge. Am I liable to pay service charges relating to a period prior to my ownership?
In a situation 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 be sure 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).
Trowbridge Leasehold Conveyancing - Examples of Queries before Purchasing
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Who takes responsibility for maintaining and repairing the building? How much is the ground rent and service charge? What restrictions are there in the Trowbridge Lease?