I am nearing exchange of contracts for my ground floor flat in Whiston and the EA has just e-mailed to say that the buyers are changing their solicitor. The excuse is that the mortgage company will only engage with property lawyers on their conveyancing panel. On what basis would a big named mortgage company only engage with certain law firms rather the firm that they want to appoint for their conveyancing in Whiston ?
Mortgage companies have always had an approved set of law firms that can act for them, but in the past few years big names such as Lloyds Banking Group, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have represented them for more than 15 years.
Lending institutions attribute this action to a rise in fraud as the reason for the pruning – criteria have been tightened 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 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.
It has been three months since my purchase conveyancing in Whiston completed. I have checked the Land Registry website which shows that I paid £150,000 when infact I paid £180,000. Why the discrepancy?
The price paid figure is taken from the application to register the purchase. It is the figure included in the Transfer (the legal deed which transfers the residence from one person to the other) and referred to as the 'consideration' or purchase price. You can report an error in the price paid figure using the LR online form. In most cases errors result from typos so at first glance the figure. Do report it so they can double check and advise.
I have been on the look out for a ground for flat up to £195,000 and found one near me in Whiston I like with amenity areas and transport links in the vicinity, however it only has 51 remaining years left on the lease. I can't really find anything else in Whiston for this price, so just wondered if I would be making a mistake acquiring a lease with such few years left?
If you require a mortgage the shortness of the lease may be a potential deal breaker. Discount the offer by the amount the lease extension will cost if it has not already been discounted. If the existing owner has owned the premises for at least 2 years you can ask them to start the process of the extension and then assign it to you. You can add 90 years to the current lease term with a zero ground rent applied. You should speak to your conveyancing lawyer regarding this.
Is it simple use the search app to select a conveyancing solicitor in Whiston on the approved list for my bank?
Step one is to select a mortgage company such as Yorkshire Building Society, Chelsea Building Society or Nottingham Building Society then specify your preferred area e.g. Whiston. Conveyancing practices in Whiston and nationally will then be identified.
I have been sourcing a conveyancing practitioner in Whiston for my home move. Can I review a solicitor's complaints history with the legal regulator?
Members of the public may find documented Solicitor Regulator Association (SRA) determinations arising from inquisitions from 2008 onwards. Go to Check a solicitor's record. For records about the period before 1 January 2008, or to check a firm's record, call 0870 606 2555, 08.00 - 18.00 any week day save for Tuesday when lines open at 9.30am. International callers, call +44 (0)121 329 6800. The regulator sometimes monitor call for training requirements.
I am hoping to put an offer on a small detached house that seems to be perfect, at a reasonable figure which is making it all the more appealing. I have just discovered that the title is leasehold as opposed to freehold. I am assuming that there are issues purchasing a house with a leasehold title in Whiston. Conveyancing advisers have are about to be appointed. Will my lawyers set out the risks of buying a leasehold house in Whiston ?
The majority of houses in Whiston are freehold and not leasehold. In this scenario it’s worth having a local solicitor used to dealing with such properties who can help the conveyancing process. it is apparent that you are buying in Whiston in which case you should be looking for a Whiston conveyancing solicitor and be sure that they have experience in advising on leasehold houses. First you will need to check the number of years remaining. Being a lessee you will not be at liberty to do whatever you want to the property. The lease will likely included provisions for example requiring the landlord’spermission to conduct changes to the property. It may be necessary to pay a maintenance charge towards the upkeep of the communal areas where the house is part of an estate. Your conveyancer will appraise you on the various issues.
Whiston Leasehold Conveyancing - A selection of Queries Prior to Purchasing
How is the lease structured? Are there any major works on the horizon that could increase the service costs?