My partner and I are hoping to purchase a flat in Aylsham and have instructed a Aylsham conveyancing firm. Within the past 48 hours our property lawyer has forwarded the sale agreement to be signed with a detailed report with the expectation that exchange is imminent. Birmingham Midshires have this evening contacted us to inform me that there is now an issue as our Aylsham solicitor is not on their conveyancing panel. Please explain?
When purchasing a property with mortgage finance it is normal for the purchasers' solicitors to also represent the mortgage company. In order to act for a bank or building society a law firm has to be on that lender's conveyancing panel. An application has to be made by the law firm to the lender to become a member of the lender's panel and there are increasingly strict criteria which the firm has to satisfy and indeed some lenders now require their panel members to be part of the Law Society’s Conveyancing Quality Scheme. Your solicitor should contact your mortgage company and see if they can apply for membership of their conveyancing panel, but if that is not viable they will instruct their own lawyers to represent them. You are not legally obliged to appoint a law firm on the lender’s conveyancing panel and you may continue to use your own Aylsham solicitors, in which case it will likely add costs, and it will likely delay the transaction as you have another set of people involved.
Can the conveyancing solicitors via your comparison service handle attended exchange conveyancing in Aylsham?
We do have a number of conveyancing specialists carrying out 24hr exchanges. Please contact us to secure a conveyancing quote and details as to availability.
We are downsizing from our house in Aylsham and according to the buyers it appears that there is a possibility that the property was constructed on contaminated land. Any local conveyancer would know this is not the case. For the life of me I don't know why the purchasers used a national conveyancing practice as opposed to a conveyancing solicitor in Aylsham. We have lived in Aylsham for 4 years we know that this is a non issue. Is it a good idea to contact our local Authority to get confirmation that there is no issue.
It sounds as though you may have a conveyancing lawyer currently acting for you. Are they able to advise? You need to enquire of your lawyer before you do anything. It is very possible that once the local authority has been informed of a potential issue it cannot be insured against (a bit like being diagnosed with a serious illness and then taking out life insurance to cover that same sickness)
Just had an offer accepted on a new build apartment in Aylsham. Conveyancing is necessary evil at the best of times but I have never purchased a new build flat before. What sort of enquires would be asked in new build legal work.
Here are examples of a selection of leasehold new build enquiries that you may expect your new-build leasehold conveyancing in Aylsham
Please confirm the Lease plans are surveyor prepared. The Lease must contain a provision on behalf of the Vendor to pay the service charges in respect of unoccupied units in order to ensure that all services can be provided. The Vendor must covenant to keep unsold units in good repair until long leases are granted therefore. Please supply a car parking plan. Will control of the Management Company (if any) be handed over to purchasers on completion of the last sale or earlier?
I own a leasehold flat in Aylsham. Conveyancing was finished in five years ago. I have heard that I mustn’t let the the remaining lease term to get too low. What is the reasoning?
Aylsham residential long term leases are for a set period - often ninety nine years when they started. However a significant appartments in Aylsham were constructed or converted in the 60’s and so such leases now have less than 80 years remaining. This may seem like plenty of time however Banks, Building Societies and other mortgage institutions on the whole need leases to have at least 75 years unexpired to be mortgageable. This means that when you come to sell the property you will need a lease extension if you are approaching seventy five years. To increase your property value you should be considering whether to extend your lease well in advance of selling the property. Furthermore strong financial reasons to taking action before the lease hits 80 years as when the lease is less than 80 years the premium to be paid to extend starts to get a lot more expensive.