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Find a Allestree Conveyancing Solictior on Your Lender’s Panel

Ready to buy a new home in Allestree? Failing to check that a lawyer is on your lender’s list of approved solicitors can put your Allestree transaction at risk of delay or failure.

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Recently asked questions about conveyancing in Allestree

We are nearing an exchange on a property in Allestree and my parents have transferred the ten percent deposit to my solicitor. I am now told that as the deposit has not arrived from me my solicitor needs to make a notification to my bank. Apparently, in also acting for the lender he must advise them that the balance of the purchase price is coming from anyone other than me. I disclosed to the mortgage company concerning my parents' contribution when I applied for the home loan, so is it really necessary for this now to delay the deal?

The property lawyer is obliged to check with the bank to ensure that they know that the balance of the purchase price is not from your own funds. Your solicitor can only reveal this to your mortgage company if you permit them to, failing which, your lawyer must cease to continue acting.

I had intended to instruct a property lawyer in Allestree for our house purchase. Our broker has since advised us that our bank Santander won't deal with them. Surely this is unfair competition?

Banks in the main imposes restrictions either the type or the amount of conveyancing practices on their panel. A common example of such restriction(s) being that a firm must not be a sole practitioner. As well as restricting the profile of firm, a few lenders have reduced the number of firms they permit to represent them. You should note that Santander have no responsibility for the quality of advice provided by any member of Santander Conveyancer Panel. Mortgage fraud was a key driver in the rationalisation of solicitor panels a few years ago even though there remains differing views about the extent of solicitor involvement in some of that fraud. Data from the Land Registry reveal that hundreds of law firms, including some in or near Allestree only perform very few conveyances a year.

Are there restrictive covenants that are commonly identified as part of conveyancing in Allestree?

Restrictive covenants can be picked up when reviewing land registry title as part of the legal transfer of property in Allestree. 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…’

How does conveyancing in Allestree differ for new build properties?

Most buyers of new build or newly converted property in Allestree come to us having been asked by the builder to sign contracts and commit to the purchase even before the residence is ready to move into. This is because new home sellers in Allestree usually acquire the land, 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 conveyancing solicitors 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 Allestree or who has acted in the same development.

In what way does the Landlord & Tenant Act 1954 affect my commercial property in Allestree and how can your lawyers assist?

The 1954 Act affords security of tenure to commercial leaseholders, giving them the dueness to make a request to court for a renewal tenancy and continue in occupation at the end of the lease term. There are certain specified grounds where a landlord can refuse a lease renewal and the rules are involved. We are happy to direct you to commercial conveyancing firms who use the act to your advantage and handle your commercial conveyancing in Allestree

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