I am in the process of selling my maisonette in Woolacombe and the estate agent has just text me to advise that the buyers are appointing a new conveyancer. The reason given is that the bank will only engage with property lawyers on their conveyancing panel. Why would a leading mortgage company only deal with specific solicitors rather the firm that they want to appoint to handle their conveyancing in Woolacombe ?
Banks have always had an approved set of law firms they are willing to work with, but in the past few years big names such as Nationwide, have reviewed and reduced their conveyancing panel– in some cases removing conveyancing firms who have acted for them for many years.
Mortgage companies justify this action to a rise in fraud by way of justification for the cull – criteria have been stiffened 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 says it is being contacted daily by practices 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 purchasers are unlikely to have any sway in the decision.
I am under pressure from the owner of a property in Woolacombe to complete within four weeks. What can be done to expedite the buying process?
In the event that you are under time constraints to exchange we would recommend that your lawyer is familiar with the location as they will have local contacts and insight. It is possible that they may have transacted previousproperties in the same road. Therefore consider using a Woolacombe conveyancing lawyer. Second, make sure that the lawyer is on the member panel. It is believed that nearly one in five of Woolacombe conveyancing transactions are delayed or derailed after finding out that a buyer’s lawyer was not on their banks panel. This can often result in the transaction being frustrated by almost 21 days. It is said that this issue affects approximately one hundred thousand home sales every year. Most Woolacombe conveyancing firms can not act for certain banks so do check at the outset.
Do I need to pay for insurance to address the risk of chancel repairs when buying a residence in Woolacombe?
Unless a prior purchase of the premises completed post 12 October 2013 you could expect conveyancing practitioners carrying out conveyancing in Woolacombe to continue to advocate a chancel search and or insurance against a claim.
I have recentlybecome aware that Stirling Law have closed. They carried out my conveyancing in Woolacombe for a purchase of a leasehold apartment 10 months ago. How can I be sure that my home is not still registered in the name of the previous owner?
The easiest way to check if the property is in your name, you can carry out a search of the land registry (£3.00). You can either do this yourself or ask a law firm to do this for you. If you are not registered you can seek help from one of a number of Woolacombe conveyancing specialists.
In my capacity as executor for the will of my uncle I am selling a property in Cardiff but live in Woolacombe. My lawyer (who is 235 miles from mehas requested that I execute a statutory declaration before completion. Could you suggest a conveyancing lawyer in Woolacombe who can attest this legal document for me?
Technically speaking you should not need to have the documents witnessed by a conveyancing solicitor. Normally any notary public or solicitor will be fine regardless of whether they are Woolacombe based
Having checked my lease I have discovered that there are only 62 years remaining on my lease in Woolacombe. I need to extend my lease but my freeholder is missing. What are my options?
On the basis that you qualify, under the Leasehold Reform, Housing and Urban Development Act 1993 you can apply to the County Court for an order to dispense with the service of the initial notice. This will mean that your lease can be extended by the Court. You will be obliged to prove that you or your lawyers have used your best endeavours to find the landlord. On the whole a specialist should be useful to carry out a search and to produce a report to be accepted by the court as evidence that the freeholder can not be located. It is wise to seek advice from a conveyancer in relation to proving the landlord’s disappearance and the application to the County Court overseeing Woolacombe.
Woolacombe Conveyancing for Leasehold Flats - Examples of Questions you should consider before Purchasing
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How much is the yearly service fee and ground rent? How many years remain on the lease? What prohibitions are contained in the Woolacombe Lease?