Should conveyancers ask for money up-front for conveyancing in Lozells?

If you are buying a property in Lozells your lawyer will request that you place them with funds to cover the search fees. This will be the total of the cost of the conveyancing searches. When the down payment is payable against the sale price then this will be asked for shortly ahead of contracts are exchanged. The closing balance that is needed will be payable shortly before completion.

Is there a search tool that I can utilise to discover of the solicitor handling my conveyancing in Lozells is on the bank’sconveyancing panel? I am looking to avoid the situation of having one lawyer for me and one for Virgin Money thus spending £175.00 in additional legal invoice.

You should take advantage of the search tool on this site. Pick the lender and type ‘Lozells’ or your preferred area and you will see a number of lawyer based in Lozells or near you.

is it true that all Lozells solicitor firms on the Santander conveyancing panel are governed by the SRA?

As solicitors, in order to be on the Santander approved list of solicitors they would need to be regulated by the SRA. Many mortgage companies do permit licenced conveyancers on their panel in which case such firms would be overseen by the Council of Licensed Conveyancers.

I have today made my last payment due on my mortgage with Coventry BS. I assume I don't need a Lozells solicitor on the Coventry BS panel to discharge the mortgage at the Land Registry. Am I right?

If you have finished paying off your Coventry BS mortgage, they may send you evidence showing that you have paid it off. Alternatively they may notify the Land Registry directly. The Land Registry need to see this evidence before they will remove the Coventry BS mortgage from the register. Coventry BS, and any evidence they send you, will determine the action you need to take. In cases where no conveyancer is acting for you and you have paid off your mortgage:

1. but are not moving to another property
2. where Coventry BS has sent the Land Registry the discharge electronically, and
3. Coventry BS has instructed the Land Registry to do so

I've digested plenty of mortgage guides, I note that they all recommend that you should get your house surveyed prior to buying it. When I asked my local Lozells solicitor - who is on the Nationwide conveyancing panel - on this she said they don't do this and I need to contract an independent surveyor. Is that normal?

Nationwide will need an independent valuation of the property. Your lawyer will not arrange this. Usually Nationwide will appoint their own surveyor to do this, and you will have to pay for it. Remember that this is a valuation for mortgage purposes and not a survey. Your solicitor will not organise the survey but they may be able to put you in touch with a local one that they recommend. RICS offers a find a surveyor service (just google it) where you can search for a qualified surveyor by your Lozells postcode. As you are getting a mortgage with Nationwide, you could contact them to see if they have a list of approved surveyors in Lozells.

How does conveyancing in Lozells differ for new build properties?

Most buyers of new build property in Lozells approach us having been asked by the builder to sign contracts and commit to the purchase even before the house is completed. This is because new home sellers in Lozells typically purchase the site, plan the estate and want to get the plots sold off as they are building the properties. Buyers, therefore, will have to exchange contracts without actually seeing the house they are buying. To reduce the chances of losing the property, buyers should instruct conveyancers as soon as the property is reserved and mortgage applications should be submitted quickly. Due to the fact that it could be several months and even years between exchange of contracts and completion, the mortgage offer may need to be extended. It would be wise to use a lawyer who specialises in new build conveyancing especially if they are used to new build conveyancing in Lozells or who has acted in the same development.

I am employed by a busy estate agency in Lozells where we have experienced a few flat sales jeopardised as a result of leases having less than 80 years remaining. I have been given inconsistent advice from local Lozells conveyancing solicitors. Could you confirm whether the vendor of a flat can initiate the lease extension formalities for the purchaser on completion of the sale?

As long as the seller has owned the lease for at least 2 years it is possible, to serve a Section 42 notice to commence the lease extension process and assign the benefit of the notice to the purchaser. The benefit of this is that the proposed purchaser need not have to sit tight for 2 years for a lease extension. Both sets of lawyers will agree to form of assignment. The assignment has to be done before, or at the same time as completion of the disposal of the property.

An alternative approach is to extend the lease informally by agreement with the landlord either before or after the sale. If you are informally negotiating there are no rules and so you cannot insist on the landlord agreeing to grant an extension or transferring the benefit of an agreement to the buyer.

Lozells Leasehold Conveyancing - A selection of Questions you should consider before buying

Is the freehold owned jointly by the leaseholders? Its a good idea to discover as much as possible concerning the managing agents as they will either make your life much easier or a lot more difficult. As the owner of a leasehold property you are frequently in the clutches of the managing agents both financially and when it comes to every day issues like the tidiness of the common parts. Ask other tenants whether they are happy with their service. In conclusion, find out the dates that you are obliged pay the service charge to the managing agents and precisely how they are spending the funds.