I am in the process of selling my house in Weldon and the EA has just text me to advise that the purchasers are changing their property lawyer. The reason given is that the lender will only engage with solicitors on their approved list. On what basis would a big named mortgage company only work with specific law firms rather the firm that they want to appoint to handle their conveyancing in Weldon ?
UK lenders have always had an approved set of law firms they are content to work with, but in the past few years big names such as Santander, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have worked with them for many years.
Banks attribute this action to a rise in fraud by way of justification for the cull – criteria have been tightened as a smaller panel is easier to monitor. No lender will say how many solicitors have been dropped, claiming the information is commercially sensitive, but the Law Society claims that it is being contacted daily by practices that have been removed from panels. Plenty of firms are unaware that 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.
I know that there are debates on Chancel Insurance on online forums. Am I compelled to have this when purchasing a house in Weldon? or Apparently there is a law dating back centuries that means some owners of property living in a parish church boundary will be compelled to pay for maintenance towards the chancel within the church. Is this appropriate for conveyancing in Weldon?
Unless a prior purchase of the property completed after 12 October 2013 you can assume that conveyancing practitioners delivering conveyancing in Weldon to remain recommending a chancel search and or chancel repair liability policy.
Are there restrictive covenants that are commonly identified during conveyancing in Weldon?
Restrictive covenants can be picked up when reviewing land registry title as part of the process of conveyancing in Weldon. An 1874 stipulation that was seen was ‘The houses to be erected on the estate are each to be of a uniform elevation in accordance with the drawings to be prepared or approved by the vendor’s surveyor…’
Over the last few months I have been searching for a leasehold apartment up to £235,500 and found one close by in Weldon I like with amenity areas and railway links in the vicinity, however it only has 61 years on the lease. There is not much else in Weldon suitable, so just wondered if I would be making a grave error purchasing a short lease?
If you need a home loan that many years will be a potential deal breaker. Discount the price by the anticipated lease extension will cost if not already taken into account. If the current owner has owned the premises for at least twenty four months you may request that they start the process of the extension and pass it to you. You can add 90 years to the existing lease term with a zero ground rent applied. You should speak to your conveyancing solicitor regarding this.
I need to instruct a conveyancing solicitor for remortgage conveyancing in Weldon. I happened to stumble upon a site which looks to be the perfect answer If there is a chance to get all formalities done via phone that would be ideal. Should I be wary? What should out be looking out for?
As usual with these online conveyancers you need to read ALL the small print - did you notice the extra charge for dealing with the mortgage?
Do you have any advice for leasehold conveyancing in Weldon with the intention of speeding up the sale process?
- A significant proportion of the delay in leasehold conveyancing in Weldon can be avoided if you appoint lawyers as soon as you market your property and request that they start to collate the leasehold information which will be required by the buyers’ lawyers. In the event that you altered the property did you need the Landlord’s approval? In particular have you installed wooden flooring? Weldon leases often stipulate that internal structural changes or addition of wooden flooring require a licence issued by the Landlord approving such alterations. If you dont have the consents in place you should not communicate with the landlord without contacting your lawyer before hand. The majority of freeholders or managing agents in Weldon charge for providing management packs for a leasehold home. You or your lawyers should find out the actual amount of the charges. The management information sought on or before finding a buyer, thus accelerating the process. The average time it takes to receive management information is three weeks. It is the most frequent cause of frustration in leasehold conveyancing in Weldon. Some Weldon leases require Landlord’s consent to the sale and approval of the buyers. If this is the case, you should notify your estate agents to make sure that the purchasers obtain bank and professional references. The bank reference will need to confirm that the buyers are financially capable of paying the annual service charge and the actual amount of the service charge should be quoted in the bank’s letter. You will therefore need to provide your estate agents with the service charge figures so that they can pass this information on to the purchasers or their lawyers. You may think that you are aware of the number of years remaining on your lease but you should double-check by asking your lawyers. A buyer’s conveyancer will be unlikely to recommend their client to to exchange contracts if the remaining number of years is less than 75 years. In the circumstances it is important at an early stage that you consider whether the lease term requires a lease extension. If it does, contact your solicitors before you put your premises on the market for sale.
Weldon Conveyancing for Leasehold Flats - Examples of Queries Prior to buying
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Does this lease have more than 85 years unexpired? Please inform me if there are any major works on the horizon that will increase the service costs?